Celtic Capital Provides $1MM A/R Line of Credit to Industrial Hygiene Companies

Celtic Capital has a new client relationship with two Washington-based affiliated companies in the environmental and industrial hygiene consulting business. The companies are owned by an ESOP and had a small line of credit with a local bank. The businesses, looking to expand, needed a larger line than the bank was unable to provide. Celtic Capital provided a $1 million accounts receivable line of credit to handle the companies’ anticipated growth.

The chairperson of both companies referred them to Celtic Capital. The chairperson knew of Celtic Capital from a former position they held with a turnaround and restructuring firm.