Celtic Capital Corporation Announces New Client Relationship

Celtic Capital Corporation announced its most recent new client relationship – a California-based company that manufactures high end furniture. This borrower had a long-term relationship with its bank but after losses and covenant violations, was asked to seek alternative financing. The bank, who continues to think highly of the borrower, referred the relationship to Celtic Capital to replace the bank’s line of credit and provide additional working capital to carry the Company through its slow season. Celtic provided $2,600,000 accounts receivable and inventory lines of credit to satisfy this borrower’s needs.