Daily News: February 2, 2018

Celtic Capital Provides $537K Facility to Engineering Firm

Celtic Capital provided a $537,000 equipment-only facility to a Washington-based company that provides engineering services in four primary areas: avionics, metrology, reliability and contracted services.

The company’s owner approached Celtic for help as he had broken loan covenants on some existing equipment loans and leases and needed to replace the lenders. The facility Celtic Capital provided not only paid off the existing loans but supplied additional working capital to aid in growing the company’s revenue in 2018.