Daily News: September 3, 2019

Celtic Provides $1.25MM A/R Facility to Charity Solicitation Firm


Celtic Capital provided a $1.5 million accounts receivable line of credit to a California-based company that conducts telephone and mail solicitations for 501-C3 charitable organizations or political organizations.

A turnaround professional referred the company to Celtic. The facility was used to pay off a small bank line and to provide additional working capital to smooth out cash flow issues.