The Company
This is a Pacific-based electrical maintenance and lighting replacement company for buildings in various commercial industries. It has been growing steadily over the past couple of years and has expectations for even stronger growth in 2025.
The Situation
The Company was being financed by a factor that was very expensive. A consultant referred the Company to Celtic Capital for less expensive asset-based financing.
The Solution
The challenge was that the factor had exit fees. Company owners decided to pay those fees as over the long run, they realized they would save money with Celtic Capital as we offered more flexibility and a larger credit line. Celtic Capital provided a $1,000,000 Accounts Receivable Line of Credit and immediately paid off the factor.
The Result
With the switch to less expensive, and more appropriate financing to support the Company’s growth goals, the Company is well-positioned for a successful 2025 and beyond.
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.