Celtic Capital Provides $1.63MM in Financing to Retail Fixture Manufacturer

Celtic Capital provided a $1 million accounts receivable line of credit and a $630 million term loan to an Oregon-based manufacturer of custom retail fixtures.  

The COVID-19 pandemic caused a decline in the company’s revenue, which led to losses in 2020. The company’s bank asked it to find alternative financing, as the losses caused the company to fall out of covenant. The business approached Celtic Capital to obtain the financing necessary for working capital and to pay down the bank debt to a point at which the bank would subordinate on the business assets to Celtic Capital. The bank held some additional collateral and will be paid off once an approved second lien loan funds.