Celtic Capital provided a $2.5 million accounts receivable line of credit and a $350,000 capital expenditure facility to an Arizona-based snack food manufacturer.

The company had lost money in 2017 due to price reductions forced upon it by its largest customer, which caused a breach in financial covenants with its bank. The bank subsequently asked the company to find alternative financing. A B2B CFO that works with the company referred the deal to Celtic Capital.

The company used the Celtic funding to purchase some new equipment, repay its bank loan in full, increase its working capital and expand the business via the CAPEX facility.