Bakery “Kneaded” Financing and Turned to Celtic Capital

The Company

This is an Eastern Midwest commercial bakery that specializes in making bagels and pita bread for food retailers and distributors. The Company has been in business for decades and is owned by four siblings; each with an equal share of the business. Interesting side note: the equipment can produce 24,000 bagels an hour.

The Situation

Supply chain issues relating to COVID led to Company losses. After managing for a tough couple of years, the bank finally asked the Company out. The owners were referred to Celtic Capital by an intermediary with whom we’ve previously financed deals. They were looking for financing to pay off the bank and to reduce the stretched accounts payable.

The Solution

Celtic Capital provided a $1,000,000 Accounts Receivable Line of Credit, a $200,000 Inventory Line of Credit and a $500,000 Equipment Loan all of which met the Company’s liquidity needs.

The Result

Now that the supply chain issues are behind them, gross revenue has been up 10% each of the past two years and is projected to be up 20% over 2023’s gross revenue. The Company is, and should, continue to be rolling in dough!

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, or visit us at