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  Celtic Bank

Celtic Bank

in Business Loans from Celtic Bank

Unaffiliated

Celtic Bank

Unaffiliated

in Business Loans from Celtic Bank

SuperMoney Net Recommendation Score -50%

SUPERMONEY NET RECOMMENDATION SCORE

-50%

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Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

Mostly not recommended

2 users recommend
0 users are unsure
6 users don't recommend
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Highlights
Highlights
Community Rating Mostly not recommended
Loan Amount $1,000 - $10,000,000
APR 4.5% - 27.22%
Loan Term (Months) 12 - 360 months
Number of Reviews 8

Celtic Bank Review

Where does Celtic Bank do business?

Celtic Bank is a business financing offering by Celtic Bank, based in Salt Lake City, UT. Founded in 2001, Celtic Bank offers access to business loans in 50 states (and Washington, DC).

What are Celtic Bank’s rates?

Celtic Bank offers a business financing product that ranges from 4.5% APR up to 27.22% APR.

Does Celtic Bank charge an origination fee?

Yes, Celtic Bank charges a loan origination fee starting at 0% of the loan amount. Celtic Bank deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Celtic Bank set on the purpose of the loan?

Celtic Bank considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of business loans does Celtic Bank offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Celtic Bank provides access to the following business loan types:

  • Unsecured term loans
  • Secured Term Loans
  • Lines of Credit
  • SBA Loans

Does Celtic Bank charge prepayment fees?

Yes, Celtic Bank charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from Celtic Bank?

Loan amounts start at $1,000 and go up to $10,000,000.

What is the maximum loan term you can get with Celtic Bank?

Celtic Bank offers business loans with terms ranging from 12 to 360 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Celtic Bank?

Celtic Bank does not require borrowers to have been in business for a minimum number of years. Businesses must have a minimum annual revenue of $27,220 to be considered.

Applicants with a credit score of at least 640 and up to 850 are eligible for Celtic Bank.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Celtic Bank. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Celtic Bank. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Proof of identity
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Other Services by Celtic Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee (%) Starting at 0%
Credit Score Range 640 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business N/A
Minimum Revenue $27,220
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $1,000 - $10,000,000
APR 4.5% - 27.22%
Loan Term 12 - 360 months

Celtic Bank Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

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-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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