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Celtic Capital Provides $1.7MM Financing to Commercial Bakery

December 04, 2023, 05:00 AM

Celtic Capital Corporation announced its most recent new client relationship – an Eastern Midwest commercial bakery that specializes in making bagels and pita bread for food retailers and distributors.

After managing through a tough couple of years due to the pandemic, the Company’s bank asked it to pay off a small line of credit. Already back on the profitability track, the Company’s trusted intermediary turned to Celtic Capital to provide funds to pay off the bank and reduce the stretched accounts payable.

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

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