Keltic Financial Services announces the completion of a $3,900,000 credit facility to ASI Building Products

August 26, 2011

Keltic Financial Services funded a $3,900,000 credit facility, comprised of a $3,500,000 revolving line of credit and a $400,000 term loan to ASI Building Products (ASIBP).  The company, headquartered in Tampa, FL, has supplied professional contractors with high-quality, low maintenance building products for over 40 years.  ASI Building Products has consistently led the industry in distributing new products and promoting innovative technology, from the best manufacturing name brands.  ASIBP has 14 distribution facilities and 3 production locations across the State of Florida, and the coastal regions of Alabama and Mississippi.

 

“ASI Building Products has been in business for over 45 years and has a great deal of experience in dealing with traditional banks.  After emerging from bankruptcy, precious few lending institutions were interested in working with our company.  Many of those who expressed interest could be classified as predatory lenders from whom we could not run away fast enough.  However, that was not the case with Keltic.  Their candid approach and reasonable pricing put us at ease from the start.  They invested considerable time in learning about our business, management team and potential for success.  This approach allowed them to gain comfort despite our recent difficulties.  From the initial contact to underwriting, Keltic has delivered on all of its promises and more.  They have remained supportive and flexible despite facing several obstacles along the way.  In addition, the warmth and professionalism of their staff has made it a pleasure to do business.  In working with Keltic we no longer have to navigate through many layers of departments and bureaucracy to obtain a simple answer.  Instead, it takes only one phone call or email.  They have been responsive to our needs in every facet of our relationship and make us feel as though our business is important to them.  Based on my experience with Keltic, I would highly recommend them to any business in need of financing.”

Karem Kharroubi, Vice President of Finance

“I want to express my gratitude to Gregg Simpson, Rod Greth and the entire Keltic team for your investment in our company.  We especially appreciated the candid approach to all of our concerns and the willingness to work through the process by everyone.  We always knew where each of us stood throughout the process.  There were many third party hurdles to overcome and you allowed us the time to get it done.  We are now able to implement a growth strategy to take advantage of current market conditions and to set our sights for a Florida recovery.”

Michael D. Patierno, President