Celtic Capital’s most recent new client relationship is an Eastern Midwest manufacturer of steel punches for the fabrication of pierce and blank dies used in a variety of industries. Due to covenant violations with its bank, the bank froze the company’s credit line and asked the company to find an alternative lender.
Celtic Capital was referred to the company by a trusted bank source and provided it with an accounts receivable line of credit for $1 million plus an inventory line of credit for $750,000 to pay off the bank and provide future working capital.
