Daily News: February 4, 2015

Celtic Provides A/R Credit Lines

Celtic Capital provided A/R credit lines for two new clients.

The first is a Perris, CA-based manufacturer of pizza presses, ovens and other related machines. The company was looking to complete a re-finance. After securing an SBA loan to purchase their building and replace their bank credit line, the company came to Celtic to provide growth capital. Celtic structured a $600,000 A/R line of credit to fund the additional revenue.

The next funding was to a Long Beach, CA-based plastic extrusion blow molding company manufacturing liquid containers. After refinancing their equipment, the equipment finance company recommended Celtic for a working capital credit line. Celtic provided a $1 million A/R credit line to help finance the company’s growing sales. Signed contracts should enable this business to double its sales in 2015.