Celtic Capital Corporation Provides Funding for Two New Manufacturing Clients

Celtic Capital Corporation today announced its most recent new client relationship – two affiliated businesses in California. One is a manufacturer of tools while the other manufactures compression and injection molded products. These businesses had been factoring their accounts receivable and were looking to move to an asset-based lending product as well as obtain some additional working capital through their equipment. Celtic Capital provided a $1,000,000 accounts receivable line of credit and a $276,800 term loan on the equipment which gave the businesses the additional working capital they were seeking.