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Celtic Bank Closes Two Deals Totaling $2 Million

August 05, 2013, 02:12 PM

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.

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