Overview
Crestmark was for many years a well-known name in bank-owned factoring, based in the Detroit suburbs. That name has largely gone. Pathward Financial, the company formerly called Meta Financial Group, acquired Crestmark Bancorp in 2018, according to the timeline in Pathward's October 2026 investor presentation. The same timeline shows Meta selling its trademarks in 2021 and completing its rebrand as Pathward Financial in 2022.
Today crestmark.com redirects to pathward.com. When we checked in November 2026, the Pathward homepage still linked to a Crestmark-branded client portal labelled "Commercial Financing," which suggests some legacy systems still carry the old name. New business, however, is marketed under Pathward.
Factoring is still offered. Pathward's annual report for the fiscal year ended September 30, 2025 lists factoring among the products of its Commercial Finance business line, alongside term lending, asset-based lending, lease financing and government guaranteed lending, all offered nationwide. The report says the Commercial Finance business operates from offices in Troy, Michigan, Franklin, Tennessee and Toronto, Ontario, while the parent company is headquartered in Sioux Falls, South Dakota.
The bank behind it is Pathward, National Association. The FDIC's BankFind data lists it as an active institution in Sioux Falls with an establishment date of January 1, 1954 and roughly $7.3 billion in total assets as of June 30, 2026. Pathward Financial trades on Nasdaq under the symbol CASH.
So the short answer for anyone looking for Crestmark: the factoring business continues, but as one product inside a national bank's working capital lending, not as a standalone factor with its own brand, rate sheet or sales pages.
Rates, advances and fees
Pathward does not publish factoring rates, fees or minimums. Its working capital page describes programs structured around a business's receivables, inventory, machinery or equipment, with funding "tailored and calibrated" to each borrower, and notes that commercial finance products are subject to underwriting. It does not use the word factoring at all.
The most concrete public information comes from Pathward's filings:
- Advance rates. The annual report says advance rates on factoring "generally range between 80% and 95%" of eligible invoices.
- Portfolio size. The October 2026 investor presentation shows factoring balances of $213.9 million at the end of the fourth quarter of fiscal 2026, down from $217.5 million a year earlier. Asset-based lending, the larger part of working capital, stood at $697.2 million.
- Pricing structure. The same presentation describes working capital loans as primarily variable rate, with most rate floors at or above 6%. That refers to the whole working capital category, not factoring alone, so it is not a factoring fee.
- Direction of travel. The annual report says factoring loans fell by $144.8 million during fiscal 2025, while term lending grew by $747.9 million.
A Pathward article on asset-based lending versus factoring says factors may advance up to 90% of an invoice and typically charge a service fee of 1% to 3%. That reads as a general description of the market rather than a Pathward price.
It also helps to understand how bank factoring is usually priced, because it differs from the flat per-invoice fee most independent factors quote. Bank programs often combine a discount fee on each invoice with an interest-style charge on the money actually advanced, tied to a benchmark rate plus a margin. Pathward's own description of working capital loans as variable rate with floors fits that pattern. Under that kind of structure, your cost moves with interest rates as well as with how long your customers take to pay, so a quote that looks cheap in a falling-rate period can become more expensive later.
For a borrower, the practical result is that you cannot estimate cost before talking to a lender. Ask for the discount fee, how it changes with days outstanding, any interest charged on funds in use, and every add-on fee. Our guide to factoring hidden fees lists the ones to ask about.
Contract terms
Pathward publishes no contract terms for factoring. Its educational article says recourse and non-recourse factoring options exist and describes factoring as requiring notification to customers that a third party is handling their invoices, but it does not set out Pathward's own terms.
Several points can be inferred from the filings, and you should confirm each one directly:
- Bank control of collections. The investor presentation says the bank has "dominion of funds" on working capital loans, meaning customer payments flow to accounts the bank controls.
- Detailed reporting. The annual report says factoring customers provide detailed accounts receivable reporting.
- Underwriting. As a national bank, Pathward underwrites against its credit policy and regulators' expectations. Expect field exams, financial statement requests and covenants that independent factors often skip.
Bank factoring and asset-based lending agreements often run for a set term, with fees for early termination. Read the agreement closely, using our guide on how to read a factoring contract, and compare it with the more flexible terms some independents advertise.
Funding speed and service
Pathward says it handles each deal "with care, clarity, and speed" and that it has representatives nationwide, but it does not publish funding times or setup timelines. Its educational article says factoring can provide frequent advances, weekly or daily as needed. Existing clients continue to use the Crestmark-branded portal linked from Pathward's site.
The industries page names manufacturing, staffing, alternative energy, insurance, oil and gas services, technology, construction and distribution as sectors it finances in the US and Canada. Some of these refer to equipment finance rather than factoring.
If you were a Crestmark client before the rebrand, the main practical questions are administrative. Check that remittance instructions on your invoices and notices of assignment still match what Pathward expects, confirm who your relationship manager is now, and keep copies of any amendments that changed the lender's name on your agreement. None of this changes your obligations, but mismatched payment instructions are a common cause of delayed funding when a lender changes its name.
Pathward's Commercial Finance group has a long history in lending, and the investor presentation shows its commercial finance portfolio growing to about $4.4 billion. But we could not find borrower-level service data or a factoring-specific complaint record to report.
Who it's for
Pathward's factoring program fits:
- Mid-sized and larger businesses that can produce detailed receivables reporting and want a bank lender that can also offer asset-based lines, equipment finance or term loans as they grow.
- Manufacturers and staffing firms, both long-standing focus sectors. See manufacturing factoring and staffing factoring.
- Businesses moving from a bank line that has become too tight, which Pathward specifically mentions as a use for its asset-based products. See our comparison of factoring and lines of credit.
It is not the place for a small business that needs a quick quote, an owner-operator trucker, or anyone who wants published prices and month-to-month terms.
Pros and cons
Pros
- Backed by Pathward, N.A., a national bank with about $7.3 billion in assets
- Factoring still offered, alongside asset-based lending, equipment finance and term loans
- Advance rates generally 80% to 95%, per its annual report
- Nationwide reach, with commercial finance offices in Michigan, Tennessee and Ontario
- Can serve businesses that may later move to a larger asset-based line
Cons
- The Crestmark brand is gone; factoring is not marketed as a distinct product on Pathward's site
- No published rates, fees, minimums or contract terms
- Bank-style underwriting, reporting and control of collections
- Factoring balances shrank in fiscal 2025 while term lending grew, suggesting it is not a growth priority
- Not designed for very small businesses or one-off funding
How it compares
The closest comparison is Bay View Funding, another bank-owned factor that changed hands in 2026 and also publishes little pricing. Independents such as Universal Funding and Charter Capital publish fee tables or ranges and advertise shorter commitments, which makes them far easier to price before you apply. Businesses that want bank stability and broader credit products should talk to Pathward; those that want speed and flexibility will usually do better with an independent factor. See all options on our companies page.
Frequently asked questions
Does Crestmark still exist?
Not as a separate brand. Pathward Financial acquired Crestmark Bancorp in 2018, and crestmark.com now redirects to pathward.com. A Crestmark-branded client portal remained in use when we checked.
Does Pathward still offer factoring?
Yes. Its annual report lists factoring as a Commercial Finance product, and its October 2026 investor presentation shows $213.9 million in factoring balances.
What advance rate does Pathward offer on factoring?
The annual report says advance rates generally range from 80% to 95% of eligible invoices.
What does Pathward charge for factoring?
It does not publish factoring rates. Its investor materials say working capital loans are mostly variable rate with floors at or above 6%, but that covers more than factoring. Ask for a written quote.
Where is the Crestmark business based now?
Pathward's Commercial Finance group operates from Troy, Michigan, Franklin, Tennessee and Toronto, Ontario. The parent company is based in Sioux Falls, South Dakota.