Celtic Capital Provides $500K AR Line of Credit and $240K Equipment Loan to Tank Truck Hauler

Celtic Capital entered into a new client relationship with a California-based tank truck hauler of gasoline, diesel, oil and other related products. The company was looking to exit a factoring relationship and some high-priced merchant cash advance loans.

Celtic Capital entered into a new client relationship with a California-based tank truck hauler of gasoline, diesel, oil and other related products. The company was looking to exit a factoring relationship and some high-priced merchant cash advance loans. An intermediary assisting the company contacted Celtic Capital to see if the company would be a fit for it. Celtic Capital provided a $500,000 accounts receivable line of credit and a $240,000 equipment loan to pay off the various lenders and provide working capital for this growing business.