A Prime Example of Celtic Capital’s Boomerang Business Program

The Company
A California-based job shop metal finishing company in business since 1980.

The Situation
In 2018, due to losses and leverage issues, the Company’s bank asked it out. Knowing that the Company’s problems were a result of events that had since passed, the referring banker told us, “You help them get their financial house in order and we’ll take them back.”

The Solution
Celtic Capital took this Company out and provided it with a $1,750,000 Accounts Receivable Line of Credit to pay off the bank and for ongoing working capital.

The Result
The Company went on to make money in 2018 and 2019, and with profitability up and leverage down in 2020, it went back to the referring bank in July. This Company’s banker used Celtic Capital exactly right – to get a business back to a financial point where it was once again bankable. And with Celtic Capital, whenever a client goes back to its referring back, it leaves without having to pay a prepayment penalty.

Whenever you have a marginal deal, warehouse it with Celtic Capital and we’ll send it back to you when it, and you, are ready.

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.

If you know of, or are, a business in need of non-traditional financing, contact Mark Hafner at 800.742.0733 or mhafner@celticcapital.com, or visit us at www.celticcapital.com.