Celtic Capital Corporation Provides $600,000 for Distributor and Installer of Fireplaces

Celtic Capital Corporation today announced its most recent new client relationship – a Colorado-based distributor and installer of fireplaces for commercial and residential use. This Company approached us for a working capital line of credit to support its expected growth. Deemed an essential business in Colorado due to its being considered part of the construction industry, we funded this deal just after the statewide lock down took place in Colorado. Working with the owner through the expected short-term decline in sales, we felt comfortable the business was adjusting its expense structure to not put any undue burden on the Company’s cash flow. Celtic Capital provided a $600,000 Accounts Receivable Line of Credit to help the business through the crisis and for ongoing working capital needs.