Celtic Capital provided $2.5 million accounts receivable and inventory lines of credit to a California-based manufacturer of high-volume, low-speed industrial ceiling fans.
The 13-year old family-owned company was asked by its bank to seek alternative financing due to loan covenant violations. With the new line of credit coupled with excess cash the company had, it paid off the bank as well as an SBA loan.
Celtic Capital is a provider of asset-based financing.
