Celtic Bank recently closed the following factoring and working capital financing transactions:
- A $1 million SBA Working Capital CAPLine and a non-recourse Collection Factoring facility for a designer and wholesaler of women’s apparel located in Los Angeles, CA. The facilities provide for inventory advances up to $275,000, non-recourse accounts receivable management, and borrowing eligibility for non-approved accounts. Celtic was able to credit guarantee over 86% of the customer base, which includes a mixture of national and boutique retailers.
- A $250,000 SBA ABL Express line and a non-recourse Collection Factoring facility for a manufacturer and wholesaler of women’s accessories located in Park City, Utah. The facilities provide for inventory advances, non-recourse accounts receivable management, and borrowing eligibility for non-approved accounts. Celtic was able to credit guarantee over 80% of the customer base, which includes a mixture of national and boutique retailers.