Telephone and Mail Solicitor Solicited Our Help For Flexible Financing
This is a California-based company that conducts telephone and mail solicitations for 501-C3 charitable organizations or political organizations.
The Company had a small line of credit with a bank. It lost money over the past couple of years and while the bank didn’t exit the relationship, it wouldn’t give management a much needed larger line.
A turnaround professional (with whom we’ve worked before) told Company management to leave the bank and come to Celtic Capital as we’d offer more flexibility and additional working capital.
The consultant made the introduction and we gave the Company a $1,250,000 Accounts Receivable Line of Credit to pay off the bank and provide working capital to grow the business, turn around the P&L and smooth out cash flow issues.
Sometimes business owners need another chance to correct their ills and make a go of it. That’s where we come in. We have every faith that with our increased credit line, this Company will successfully turn things around.
About Celtic Capital
Companies looking for working capital to cover operating expenses, fund growth, increase buying power and take advantage of vendor discounts and rebates turn to Celtic Capital. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible asset based financing solutions from $500,000 to $5 million with no financial covenants.
As an independent lender, working with companies nationwide, Celtic Capital is willing and able to alter price and deal structure and expand lines of credit to handle its clients’ increased revenues; and when cash flow is an issue, will look toward providing an inventory facility to help offset lost cash flow.