Daily News: June 11, 2012

Celtic Bank Closes Two Transactions


Celtic Bank, of Salt Lake City, UT, closed two transactions totaling $1.5 million. The deals include:

  • a $1.25 million SBA Working Capital CAPLine for a wholesaler of industrial and medical supplies in Minerva, OH. The line included an inventory sub-limit of $400,000. Celtic also simultaneously closed a fully amortizing 25-year SBA 7(a) term loan for debt restructuring.

  • a $250,000 SBA Working Capital CAPLine for a wholesaler of team apparel in Chula Vista, CA. The line included an inventory sub-limit of $50,000 and refinanced the borrower’s factoring facility.

    The SBA Working Capital CAPLines program is an asset-based working capital loan guarantee program available for small- and medium-sized business borrowers up to $5 million.