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Keltic Financial Funds $3.5MM Credit Line to SBS

August 16, 2013, 07:28 AM
Filed Under: Distribution

Keltic Financial Services announced the recent funding of a $3.5 million senior secured revolving line of credit to MBI Acquisition Company d/b/a Service Building Supply ("SBS").  The company, headquartered in Sanford, NC is a complete supplier of residential and commercial building materials.  With the recent addition of a Raleigh, NC location, SBS caters to the builders' needs in the "Triangle" and "Sandhills" areas of North Carolina, while providing prompt delivery, excellent service and quality products.

"Keltic started the financing process by asking us to identify our goals, and let us know that they would partner with us in the achievement of those goals.  While less expensive financing alternatives were available to MBI, we believe that Keltic will be there for us in these uncertain times and that confidence in our lender helps us sleep at night, said Denis St. Abuin, CEO of MBI Acquisition Company.

"It was a pleasure working with Keltic's experienced team of professionals.  From the point of initial contact to closing on funding, the Keltic team was direct and to the point on the business issues.  As an investor in the Company and advisor for the transaction, we appreciate the value of a good financial partner to fuel growth and enhance enterprise value.  Certainly we have one in Keltic," added David Swintosky of Dunning Capital.

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