Celtic Capital Provides $1.3MM A/R Line of Credit to Manufacturer

Celtic Capital provided a $1.3 million accounts receivable line of credit to an Indiana-based manufacturer of packing materials and supplies.

The 27-year-old business’ bank asked it to exit its relationship with the bank due to covenant violations. The company’s business consultant reached out to Celtic Capital to subordinate the company’s economic injury disaster loan and to provide a new credit facility to replace the bank’s line.