Daily News: January 31, 2013

Celtic Bank Closes CAPLine for Metals Manufacturer


Salt Lake City, UT-based Celtic Bank recently closed a $5 million SBA working capital CAPLine for a metals manufacturer and wholesaler located in Philadelphia, PA.

The working capital line provides for advances on eligible accounts receivable up to 80%, including credit-insured foreign accounts, and a $1 million inventory sub-limit. The company’s length of time in business and rapid growth rate made it an ideal candidate for participation with SBA.