Celtic Bank

Celtic Bank is a Salt Lake City bank that lends to small and medium-sized businesses nationally. It is best known for SBA lending but also writes equipment finance, construction, commercial real estate, asset-based, inventory and receivables, fund and portfolio, and recurring revenue facilities, and it runs a fintech division that provides card issuing, acquiring and lending programs for technology partners.

Business borrowers use Celtic for working capital, buying a business, buying out a partner, refinancing debt, ground-up construction, equipment purchases and commercial real estate. SBA 7(a) loans go up to $5 million. Commercial property can be purchased with as little as 10% down, and the bank says it finances specialty property types including assisted living facilities, hotels, restaurants, car washes and gas stations. An in-house construction department stays with a project from start to finish.

Equipment financing runs up to $2 million with terms up to seven years and up to 100% loan-to-value, and the bank emphasizes that borrowers deal directly with an FDIC-insured lender rather than a broker. Business savers can also open time deposits, which have their own application and early withdrawal terms.

Celtic Bank was founded in 2001 and reports $4 billion+ in funds delivered and 10,000+ small businesses funded. It says it has ranked among the top ten SBA lenders nationally every year since 2013. It operates under NMLS #500016 from 268 South State Street in Salt Lake City. Rates and terms are quoted per application.