Use of Proceeds: Business Acquisition

Industry: FedEx Route

Loan Amount: $859,300

State: North Carolina

Funds were used to acquire an independent package delivery business and its FedEx Route. While the borrower was new to the industry, Celtic found the borrower’s experience of managing other businesses and employees applicable. Celtic was able to extend financing because of the business’ strong historical cash flow and the additional collateral pledged by the borrower.