Celtic Capital Corporation Provides Funding for Central Midwest Hex Key Manufacturer

Celtic Capital Corporation today announced its most recent new client relationship – a Central Midwest Company, founded in 1923, that manufacturers hex keys of various sizes. The descendants of the founders are still involved with this Company which is a testament to the Company’s longevity. Due to recent covenant violations, their current bank sought to exit the relationship. Celtic Capital was referred in and approved a $3,000,000 accounts receivable line of credit, a $1,500,000 inventory line of credit and an equipment loan of $397,600 to repay the bank in full and provide ongoing working capital.