Daily News: October 1, 2018

Celtic Capital Provides $1.75MM to Shop Metal Company

Celtic Capital provided a $1.75 million accounts receivable line of credit to a California-based shop metal finishing company.

The company’s bank requested that it leave because of recent losses caused by events that have since been resolved.

Celtic provided a line of credit to pay off the company’s debt to the bank and to provide on-going working capital. The company is subsequently now headed back towards profitability.