Daily News: May 17, 2012

Celtic Bank Closes Three Working Capital CAPLines


Celtic Bank closed SBA Working Capital CAPLines for three companies totaling $5.95 million.

  • A $2.35 million CAPLine for a wholesaler of craft and hobby products in Denver, CO. The credit facility provided a $500,000 inventory sub-line.

  • A $2.25 million CAPLine for a medical staffing company in Manhattan.

  • A $1.35 million CAPLine for a metals service center in Orange, CA. The credit facility provided a $350,000 inventory sub-line.

    The SBA Working Capital CAPLines program is an asset-based revolving credit product up to $5 million for small business borrowers with recognized credit weakness(es) or which require more aggressive inventory, account debtor concentration, or foreign account debtor considerations.