The Company
This Company is a Pacific-based provider of office supplies, office furniture, and commercial printing services.
The Situation
After being with the same bank since the 1990s, the Company learned that the bank was merging with another institution and exiting its longstanding relationship. The change left the Company in need of a new financial partner.
The Solution
This deal was one of a series of deals Celtic Capital acquired as part of a portfolio purchase resulting from the bank merger. Celtic Capital provided a $2,000,000 Accounts Receivable Line of Credit to acquire the loan from the bank.
The Result
The Company remains well-capitalized and profitable, and continues to do well. The transition to Celtic Capital was seamless, and the Company’s outlook for future growth is strong.
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 more complex transactions, Celtic Capital has a history of success in crafting creative, flexible asset-based financing solutions from $500,000 to $8 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 celticcapital.com.