Celtic Capital provided a $1.5 million accounts receivable line of credit to an Ohio-based nurse staffing company. The company is a former Celtic Capital borrower.
Celtic Capital originally provided a line of credit to this client in 2017. The client paid off the line of credit after obtaining a line with a bank. During 2019, the company’s owner paid off the bank line at the bank’s request. In September 2020, the company was still not bankable and had past due taxes that needed to be paid. Celltic Capital provided an AR line of credit to allow the company to make the tax payment and for working capital.
