Daily News: August 9, 2012

Celtic Bank Closes Two Transactions Totaling $1.1 Million

Celtic Bank of Salt Lake City, UT, closed a $900,000 SBA working capital CAPLine (asset-based) for a wholesaler of packaging materials in Frankfort, IL. The CAPLine was used to refinance an existing bank line where the incumbent lender was unwilling to provide an increase to the credit facility to accommodate growth.

Celtic also closed a $200,000 SBA express line of credit (asset-based) for a medical staffing company located in Aurora, CO. The express line was used to replace an existing factoring facility.

Celtic provides SBA working capital and factoring programs nationwide.