Celtic Capital provided a $2.5 million equipment loan and participated with a revolving lender on $1.5 million in accounts receivable and inventory lines of credit for a privately-owned manufacturer of precision manufactured components and assemblies based in the Midwest.
The company, which has been in business since 1957, approached Celtic Capital to provide an equipment-only loan, as it was going to be financing its accounts receivable and inventory through another asset-based lender. The combination of the Celtic Capital loan and the revolving loan were to be used to pay off the company’s current bank.
