Celtic Capital provided a $2 million accounts receivable line of credit and a $500,000 inventory line of credit to a California-based manufacturer of custom plastic injection molding products.
The second generation, family-owned and operated business wanted to leave its existing lending relationship due to the lender’s inflexible approach, which hampered the company’s use of its working capital.
The company plans to use the Celtic funding to pay off the lender and to provide more flexibility and additional working capital in support of its growth plan.
