Celtic Capital provided a $1.3 million credit facility for a California-based company that is a job shop for metal and plastics fabrication.

This 20-year old business had gotten behind on payroll taxes and with some trade vendors, so management approached Celtic Capital for funds to catch up and to provide additional working capital.

Celtic provided a $1.3 million accounts receivable line of credit and equipment loan to take care of this borrower’s immediate needs and to smooth out cash flow.