Celtic Bank was founded in 2001 and is headquartered in Salt Lake City. They lend money to small and medium-sized for business acquisition, working capital, inventory, and equipment. They also finance ground-up construction, offer debt refinancing, money marketing accounts (MMA) and certificates of deposits (CD).
SBA: Celtic Bank is a U.S. Small Business Association (SBA) Preferred Lender, meaning it has a successful record processing and servicing SBA-guaranteed loans. It is the seventh most active lender in the SBA Preferred Lender program.
Online forms: Interested customers can download loan application forms for all of Celtic Bank’s products online. They can also download documents, such as an SBA Application Checklist, to make the application process easier.
Loan options: Celtic Bank offers several types of loans to accommodate many different types of businesses. Their Express Term Loans are available in the amount of $20,000-$150,000 and provide business owners with working capital and/or allow them to purchase equipment. Those applying for a USDA B&I Loan can borrow up to $10 million.
Residential construction: In addition to small business loans, Celtic Bank also offers loans to individuals who want to build a new home or remodel their current home. In many cases, applicants can be approved in 48 hours.
Savings: Celtic Bank’s savings tools include MMA and CDs. The minimum amount for each of these accounts is $1,000.
Best for: Celtic Banks offers a variety of loans to help small, mid-size and larger businesses.
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