Daily News: July 1, 2019

Celtic Closes Two Transactions Totaling $1.557MM

Celtic Capital completed two transactions with new clients totaling $1.557 million.

An Indiana-based steel fabrication and installation business was being acquired by a small public company that had previously borrowed with Celtic Capital. Management requested a $400,000 equipment loan to help with post-closing liquidity needs. Having worked together before, the process was quick and easy.

A Washington-based manufacturer of roof and floor trusses, pre-cut lumber framing packages, and door and millwork packages was originally referred to Celtic in 2018. It wanted an equipment loan of $1.157 million to aid the in paying off its existing bank. When originally referred, the company didn’t have sufficient availability to pay off the bank, but working through the issues alongside the other asset-based lender that was financing the accounts receivable and inventory, Celtic was able to complete the deal.