Alternative Financing Needed To Support AZ Company’s Growth
This is an Arizona-based company that imports premium natural sea salt. The Company, formed in 2018, packages the salt and sells it to the food manufacturing, food service and grocery distribution markets.
The Company had a small bank line of credit and a payroll advance loan from another company. This financing couldn’t support the significant growth the Company anticipated. As this was a relatively new Company, highly-leveraged and lost money last year, it’s bank wouldn’t increase its credit line.
Without bank support, the Company turned to alternative financing sources to meet its growth target and was referred to Celtic Capital. We provided a $1,000,000 Accounts Receivable Line of Credit.
The Company is now poised to meet its growth goals for 2023.
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.