Celtic Bank in Salt Lake City, UT recently closed the following purchase order, working capital financing, and non-recourse factoring transactions:
- A $1.5 million SBA Contract CAPLine and non-recourse factoring line for a manufacturer and wholesaler of skin care products in North Salt Lake, UT. The line will provide for production financing of up to 100% COGS and direct G&A associated with purchase orders obtained from major national retailers.
- A $500,000 SBA Working Capital CAPLine for a manufacturer of industrial metal components in Cincinatti, OH. The CAPLine was used to refinance a bank line which no longer met the growing needs of the applicant and provides an inventory sub-limit of up to $250,000.