Daily News: April 5, 2019

Celtic Provides $300K Loan to Steel Fabricator

Celtic Capital closed a $300,000 equipment loan with its most recent client, a Washington-based steel fabricator and installer.

The company had become delinquent on its payroll taxes and needed to borrow funds against its manufacturing equipment to pay down the IRS.

Celtic Capital had first been approached with this deal in 2017. However, the company had to resolve the IRS obstacles before the deal could be funded.

With the IRS issues recently resolved, the client, impressed with Celtic’s prior effort on its behalf, returned to Celtic to bring the deal over the finish line.