Celtic Capital Provides $3.6MM in Financing to Printing Services Company

Celtic Capital entered into a new client relationship with a New York-based company providing printing services to the newspaper advertising industry. This company, founded in 1980, had been harmed by the pandemic and was out of covenant with its bank. When another asset-based lender was not able to meet the company’s needs, they referred it to Celtic Capital. Celtic Capital provided a $2.5 million accounts receivable line of credit, a $500,000 inventory line of credit and an equipment loan of $610,960 to pay off the bank and for additional working capital. The company projects a large uptick in business over the next 12 months and now has the appropriate financing in place to support that growth.