Strongly not recommended
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Where does Celtic Bank do business?
Celtic Bank is a bank based in Salt Lake City, UT. It was founded in 2001 and offers access to business loans in 50 states (and Washington, DC).
What are Celtic Bank’s rates?
Celtic Bank offers business loans with fixed APRs starting from 4.5% and up to 27.22%.
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?
Some lenders only provide business loans for certain purposes. Celtic Bank considers loan applications for the following reasons:
- Business Debt Refinance
- Equipment Purchase
- 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 a loan with Celtic Bank?
Applicants with a credit score of at least 640 can apply for a loan via Celtic Bank.
Celtic Bank does not require borrowers to have been in business for a minimum number of years.
Only U.S. citizens and permanent residents can apply for a loan. Celtic Bank only considers borrowers who are employed or self-employed.
To qualify, applicants may need to provide the following documentation:
Other Services by Celtic Bank
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Proof of Identity
- Proof of Income