Overview
Celtic Bank Corporation is our #4 ranked SBA lender based on SBA loan volume from last year.
Celtic Bank is a Utah-based community bank that has been providing commercial financing and loan services since 2001. Over the years, the bank has developed a reputation as a trusted partner for businesses of all sizes, offering a range of products and services to support their growth and development. Bank History Celtic Bank was founded in 2001 as a small community bank with a mission to provide commercial financing and loan services to businesses across the country. Since then, the bank has grown significantly, expanding its reach to serve customers in all 50 states.
Today, Celtic Bank is a leading provider of SBA loans, offering a range of loan products designed to meet the needs of small businesses. The bank has also received numerous awards and accolades for its outstanding customer service and commitment to excellence.
Celtic Bank offers a range of financing options to businesses of all sizes. These options include SBA loans, commercial real estate loans, construction loans, and equipment financing. The bank also provides working capital loans, lines of credit, and other financing options to help businesses manage their cash flow and meet their financial goals.
One of the bank’s primary areas of focus is SBA lending. Celtic Bank is an SBA Preferred Lender, which means that the bank has the authority to approve SBA loans without the need for additional approval from the SBA. This designation allows the bank to offer faster turnaround times and more flexible loan terms to its customers.
Celtic Bank’s commercial loan services are designed to meet the needs of businesses across a range of industries. The bank’s loan products include SBA 7(a) loans, SBA 504 loans, and USDA loans, as well as conventional commercial real estate loans. The bank also offers specialized loan products for specific industries, such as healthcare, franchise, and hospitality. These loan products are tailored to meet the unique needs of businesses operating in these industries, providing financing options that can help them grow and succeed.
In addition to its loan services, Celtic Bank also provides a range of other commercial banking services, including treasury management, online banking, and merchant services. These services are designed to help businesses manage their finances more effectively and efficiently, allowing them to focus on their core operations and achieve their goals.
Celtic Bank has a long history of providing commercial financing and loan services to businesses across the country. With a focus on SBA lending and a range of loan products tailored to meet the needs of specific industries, the bank has become a trusted partner for businesses of all sizes. If you’re looking for financing solutions to support your business’s growth and development, Celtic Bank may be the right choice for you.
Celtic Bank makes loans from $150,000 up to $5 million through Celtic Bank’s SBA loan program to be used for working capital, refinance, business acquisition, real estate purchase/construction purchase of equipment, and/or inventory. Terms are typically 10 years or 25 years if a real estate loan. Celtic Bank Corporation will lend up to 90% (aka “loan-to-value”) depending on a variety of factors. Credits scores of 680 or higher for all 20% of greater owners of the business are generally required. Unlike many SBA lenders, Celtic Bank does offer fixed rate in addition to standard variable rate SBA loans.
For the past few years, Celtic’s small business loans have been priced similar to other national lenders:
States where Celtic has done small business loans in the past year:
Impressively, Celtic has continued to grow its SBA loan division the past five years even during the pandemic:
Frequently Asked Questions About Celtic Bank
Is Celtic Bank for legit?
Celtic Bank is a federally-chartered bank headquartered in Salt Lake City, Utah. The bank provides a range of financial services, including commercial lending, SBA loans, personal banking, and more. Celtic is consistently ranked as one of the top 25 SBA lenders in America.
What is the minimum credit score for Celtic Bank?
The minimum credit score required to qualify for a loan with Celtic Bank can vary depending on the type of loan and other factors. However, generally speaking, most SBA lenders, including Celtic, prefer to work with borrowers who have a credit score of at least 680 or higher
What types of loans does Celtic Bank offer?
Celtic Bank offers a variety of loan options, including SBA loans (504 and 7a), USDA loans, commercial real estate loans, equipment financing, and business acquisition loans.
How long does it take to get an SBA loan with Celtic Bank?
The time it takes to get an SBA loan can vary depending on the nature of the transaction. SBA commercial real estate loans tend to take the longest – 60 to 90 days, and SBA express loans can be done in 45 days or less.
Can I refinance an existing loan with Celtic Bank?
Yes, Celtic Bank offers refinancing options for existing loans as long as the loan being paid off is not an SBA loan. The SBA does not allow existing SBA loans top be refinanced with new SBA loans.
Does Celtic Bank offer online banking services?
Yes, Celtic Bank offers a range of online banking services, including online account management, bill payment, and mobile banking. These services are designed to make it easier for customers to manage their accounts and access their funds.
Any Celtic bank reviews available?
We do not have any statistically relevant review data on Celtic Bank but can say the borrowers we hear from regarding Celtic love the financing capabilities and creativity at the bank, as Celtic can structure an SBA loan with a USDA loan and/or a traditional commercial loan.
