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Crescent Processing Company: Full Steam Ahead
Five years and going strong – things are definitely looking up for Crescent Processing Company, especially now that they have recently recapitalized their balance sheet and refinanced their senior debt. These developments had taken place in May of last year and had given the company a new credit facility of US$55 million.
A group of high-profile banks led by JP Morgan Chase had provided this credit facility, which will be in effect for the next three years. According to Crescent's CFO, Chris Dierks, Crescent Processing Company is pleased both by the refinancing and the promising future that it has given the company.
Dierks further said that the current refinancing is another reaffirmation of the success that Crescent has been experiencing since its establishment barely five years ago. Indeed, for such a relatively young company, Crescent has advanced quite fast in the merchant services industry, now servicing more than 50,000 small-scale and medium-scale business in the United States.
Amid talks of scams and other malicious rumors, Crescent has kept going forward, disregarding these rumors and focusing on providing their merchants the high quality of service and client support that they have always been known for. In fact, Crescent's company motto, A Client for Life, is apparent in all transactions between the company and its merchant clients.
The reason for Crescent's success lies mostly in the way that the company treats its clients. Only Crescent Processing Company provides complete processing equipment to its clients free of charge for as long as they have an open account. Crescent also features the unique call-me button on all terminals, which allows merchants to call their customer support representatives at any time of the day or night.
All these show just how much value Crescent gives to their merchants, which is precisely why the company has achieved the pinnacle of success that it is enjoying today. But despite this success, Crescent shows no signs of stopping. With three facilities already operating in Texas, along the current refinancing, it is clear that for Crescent, the only way to go is up and forward. |