Celtic Capital Provides $1MM A/R Line of Credit to Metals Manufacturer

Celtic Capital provided a $1 million accounts receivable line of credit to a California-based manufacturer of precision metal stamping, welding and automated assembly products for various industries.

The third-generation manufacturer was leveraging its vendor relationships in lieu of traditional financing. As the business was growing, its CPA recommended the company get a working capital line with Celtic Capital. The manufacturer will use the line of credit to pay down trade vendors and provide working capital.