Daily News: March 1, 2019

Celtic Funds $3.3MM in Financing for Trusses Manufacturer


Celtic Capital provided a $2.5 million accounts receivable line of credit, a $250,000 inventory line of credit and a $280,000 capital expenditure loan to a manufacturer of roof and floor trusses for new construction of single and multi-family homes.

The California-based company is a new client relationship for Celtic, though the company’s owner of this company had been a Celtic Capital borrower with his previous company.

The owner reached out when his current lending relationship wasn’t meeting his needs.

The financing will be used to pay off the company’s existing lender, provide additional working capital and support the acquisition of some much-needed new trailers.