Celtic Capital moves into North Bay

LARKSPUR -- Southern California-based lender Celtic Capital Corporation is opening its first northern California office in Larkspur this month.

The new office will be located at 700 Larkspur Landing Circle Suite 199. It will be headed by long-time Marin County resident David Braff.

Celtic Capital provides financing from $500,000 to $5 million and is open to all industries. The majority of clients are gained through referrals from bankers, CPAs, consultants, and attorneys.

This is the company's third office, including its headquarters in Santa Monica and an office in Arizona.

?We've always served the Bay Area, but this is our first office there,? says senior vice president of marketing Evon Rosen. ?We have always had a market in northern California and now with the downturn in the economy, there is even more of a need for asset-based lending.?

Asset-based lending offers funding alternatives for companies that encounter obstacles in obtaining traditional bank financing. Celtic Capital secures these loans with company assets such as accounts receivable, equipment, and inventory.

?Banks are restricted in the loans they issue because of tougher credit standards,? says Ms. Rosen. ?Asset-based lenders step in and assume the added risk that banks can't or will not take. We will also do DIP financing, which is helping to finance companies in bankruptcy.?

Founded in 1982, Celtic Capital is a family-owned business operated by two generations of lending experts. Chairman Bron Hafner and his son, president Mark Hafner, have a combined total of 50 years of industry experience.

For more information, call 415-464-4830 or visit www.celticcapital.com.