Daily News: October 3, 2014

Celtic Capital Provides $1.5MM A/R to Gravel Company

An Everson, WA-based company in the business of mining and selling sand and gravel products came to Celtic to refinance its current banking relationship. The company had fallen out of covenant with its bank and need to transition to an ABL.

Celtic established a $1.5 million facility comprised of an A/R line and an equipment loan to assist the company exit the bank and provide the working capital it will need to effectuate its turnaround plan.