Celtic Capital provided a $1.05 facility to an Idaho-based company that designs and manufactures parts and pieces for food processing plants and for construction of primarily steel buildings.
Due to customer projects pushed into 2020, the business suffered a decline in revenue which left it in a cash flow bind. The business, free of any traditional bank borrowing, approached Celtic Capital to borrow against its equipment. Celtic made an Equipment Loan for $1.05 million to support the company’s cash flow and to enable it to realize anticipated revenue growth in 2020.
