Celtic Capital Provides $2.5MM Line of Credit to Industrial Ceiling Fan Manufacturer

Celtic Capital formed a new client relationship with a California-based manufacturer of industrial ceiling fans. This 13-year old family-owned business was asked by its bank to seek alternative financing due to loan covenant violations.

Celtic Capital provided $2.5 million accounts receivable and inventory lines of credit, which when coupled with excess cash the company had on hand, paid off the bank, an SBA loan and provided additional working capital to fuel the company’s growth.