Celtic Capital Corporation Provides $1.4 Million for California-based Company

Celtic Capital Corporation today announced its most recent new client relationship – a California-based company that sells fresh and frozen seafood to wholesale and retail customers. This 30+ year business needed to pay off its existing bank line of credit and establish a larger, and more flexible, lending relationship. Its banker referred the Company to Celtic Capital and we provided Accounts Receivable and Inventory Lines of Credit totaling $1,400,000 which included a provision for the Company to borrow against unbilled accounts receivable.  Our financing structure enabled the Company to pay off the bank and provided additional working capital to the business.