Celtic Capital Provides $1.7MM in Financing to Commercial Bakery

Celtic Capital provided a $1 million accounts receivable line of credit, a $200,000 inventory line of credit and a $500,000 equipment loan to a commercial bakery based in the Midwest that specializes in making bagels and pita bread for food retailers and distributors.

After managing through a difficult couple of years due to the COVID-19 pandemic, the company’s bank asked it to pay off a small line of credit. An intermediary turned the company toward Celtic Capital to attain funds to pay off the bank and reduce its stretched accounts payable.