Daily News: January 2, 2019

Celtic Provides $2MM to California Client

Celtic Capital provided a $1.65 million accounts receivable line of credit and a $350,000 inventory line of credit to a new client in California.

The company distributes lighting products and, due to losses incurred from a failed expansion plan, had its borrowing power limited by its bank, which crimped its cash flow.

The company used the Celtic funds to pay off the bank and provide additional cash flow to fuel his turnaround plan, which subsequently helped the company show an impressive and quick recovery.