Celtic Capital Corporation Announces New Client Relationship

Celtic Capital Corporation today announced its most recent new client relationship – a Washington-based distributor of solar equipment and hardware. With no current bank financing, this Company was looking for a loan facility to offset current cash constraints that were hampering its growth potential. One of our valued bank referral partners suggested that Company management speak with us as the Company’s financials didn’t meet the bank’s lending criteria. Celtic Capital provided a $900,000 accounts receivable line of credit and a $300,000 inventory line of credit to satisfy the Company’s needs. Funding the deal necessitated an SBA EIDL subordination which Celtic Capital successfully obtained.  However, funding was delayed as the SBA took eight weeks to comply.