Funds were used for ground–up construction of a gas station with three quick-serve restaurants. The land is in a more rural part of California and the project qualified for USDA financing. Because of Celtic’s gas station financing expertise and flexible credit policy, the Bank extended $5.1M in financing. Due to the size of the construction project, the Bank needed to utilize a pari-passu loan structure (a blend of USDA and conventional financing) to make this deal work.
