Daily News: August 1, 2019

Celtic Provides $3MM A/R L/C to Dog Treat Manufacturer


Celtic Capital closed a $3 million accounts receivable line of credit for a Washington-based dog treat manufacturer.

The company’s bank asked it to leave due to the violation financial covenants. Management was seeking a $3 million accounts receivable line of credit to replace the bank line and to provide additional working capital.

Celtic found the company to be well-run and well managed so it provided the needed credit facility.