Celtic Capital Provides $2MM in Financing to Dry Blended Food Products Company

Celtic Capital entered into a new client relationship with a 55 year-old California-based company that provides research and development, formulation and manufacturing of dry blended food products. After having sales hard hit by COVID-19, and supply chain disruptions, the company started aggressively growing sales and gross margins to turn the business around. The company’s management approached Celtic Capital for working capital to fund that growth. Celtic Capital provided a $1.5 million accounts receivable line of credit and a $500,000 inventory line of credit to meet the company’s request.