Celtic Capital Provides $1.2MM in Financing to Solar Equipment Distributor

Celtic Capital provided a $900,000 accounts receivable line of credit and a $300,000 inventory line of credit to a Washington-based distributor of solar equipment and hardware.

With no current bank financing, the company was looking for a loan facility to offset cash constraints hampering its growth potential. One of Celtic Capital’s bank referral partners suggested the company’s management team speak with Celtic Capital.

Funding the deal necessitated emergency injury disaster loan subordination from the U.S. Small Business Administration, which Celtic Capital successfully obtained. However, funding was delayed because the SBA took eight weeks to comply.