Celtic Capital formed a new client relationship with a Pacific Northwest-based moving, storage, warehousing and transportation business.
This long-time family business was seeking a new line of credit to replace its current bank as, due to covenant violations, was being asked out. The company (potentially selling the business in the near term) was also looking for a lender with flexibility. Celtic Capital provided a $1 million accounts receivable line of credit to repay the bank and provide additional working capital until the company finds the right buyer.
