Celtic Capital Provides More Than $2.6MM in Financing to Food Products Company

Celtic Capital provided a $2.25 million accounts receivable line of credit and a $376,5000 equipment loan to a California-based manufacturer of various food products sourced from ethically-grown super foods. In addition, since the manufacturer needed more availability on its inventory than Celtic Capital could provide, Celtic Capital partnered with an inventory-only lender, which provided a $2 million inventory line of credit to the manufacturer.

The manufacturer used the financing from Celtic Capital in combination with the $2 million inventory line of credit to repay a bank that needed to exit its deal with the manufactuer due to covenant violations.