Is Celtic Bank Business Loans the right fit for you?
Last Updated: 06/21/2025
SuperMoney User Recommendation Score -50
Mostly not recommended8 total votes
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Highlights
Community Rating
Mostly not recommended
Amount Range
$1,000 - $10,000,000
APR
4.5% - 27.22%(Verified 06/21/2024)
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Loan Term (Months)
12 - 360
Number of Reviews
Celtic Bank Business Loans Review
Celtic bank is a business financing offering by Celtic Bank, based in Salt Lake City, UT. Founded in 2001, Celtic Bank offers access to small business loans in 50 states (and Washington, DC).
Celtic bank FAQ
What are Celtic bank 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 business loan amount . Celtic bank deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
Does Celtic bank charge prepayment fees?
Yes, Celtic bank may charge additional fees to borrowers who pay off their small business loans sooner than anticipated. Take this into consideration when choosing a business loan product because prepayment penalties can reduce or even cancel the interest savings of repaying a business loan early.How much can you borrow from Celtic bank?
Business loan amounts start at $1,000 and go up to $10,000,000.
What is the maximum business loan term you can get with Celtic bank?
Celtic bank offers small 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 Business Loans?
Celtic Bank Business Loans 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 may be eligible for Celtic Bank Business Loans. U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Celtic Bank Business Loans.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
Does Celtic Bank perform a hard credit pull?
Yes, Celtic bank performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Contact
Headquarters
Hours of Operation
SundayClosedMonday9:00AM - 5:00PMTuesday9:00AM - 5:00PMWednesday9:00AM - 5:00PMThursday9:00AM - 5:00PMFriday9:00AM - 5:00PMSaturdayClosed
Other Services by Celtic Bank
Business Lines of Credit
Be the first to rate
Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- 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
SuperMoney Net Recommendation Score
SuperMoney users mostly don't recommend this product, giving it a user recommendation score of -50, or 2 on a 5-point rating scale.
-50
-1000+100
No one recommends
Everyone recommends
Reviewer Sentiment Over Time
Celtic Bank Business Loans Community Reviews
Would you recommend Celtic Bank Business Loans to your friends?
U
Anonymous
May 9, 2023
Would not Recommend
To many problems to list, couldn't send me the whole loan application, told me I was already paying for vehicle inspection so NOT to inspect the vehicles, under writers kept coming back with clueless questions so we missed the 6 months loan payment forgiveness deadline by hours.
U
Anonymous
Jun 8, 2021
Would not Recommend
Celtic Bank is terrific in obtaining your business. Once a “customer” expect days before a response, if any, and even longer for any action. You can expect emails from Executive Vice President, Special Assets and Loan Servicing that are in red bold lettering and stating things like
“we are doing everything in our power to help accommodate your request (potentially)”& “However, you should know, there are no less ...Show More
MA
Michael A.
Sep 1, 2019
Would Recommend
GOOD FOR SBA GLOBAL TRADING PORTAL. WITHOUT USING YOUR OWN MONEY, TILL YOU EITHER SELL YOUR PRODUCTS OR GET PAID
Bilals Mobile D.
Mar 15, 2017
Would Recommend
I received a small line of credit with Celtic Bank via my Squareup Credit Processing App for my Business. This was a good initial small boost for my business and I'm looking to receive another as I've paid the first off early.
U
Anonymous
May 29, 2016
Would not Recommend
Similar experience as the other reviewers on this site. Started application process in January and submitted mounds and mounds of documents and paper work. spend 4 1/2 months on a simple loan that should have been finished within 3-4 weeks. finally after investing about 100 hours of time and countless sleepless nights, the declined the loan. waste of time. but 1 valuable lesson learned. ...Show More
U
Anonymous
Jan 21, 2016
Would not Recommend
Could not even give them one star. Horrible bank. They take way to long to close a deal. Four months for a simple closing. They forget they are dealing with real people. Stay away from thus lender.
U
Anonymous
Aug 31, 2015
Would not Recommend
never had such bad experience with any other company or bank they are simple CELTIC SCAMMERS! using your information without consent and when questioning them they simply disconnect the phone on you Celtic bank is a shameful bank and a scam!
U
Anonymous
Aug 25, 2015
Would not Recommend
most horrific experience I ever had dealing with a bank. ugh! I wish I would read some reviews beforehand. don't fall for their rates. would never do business again with these scammers
Showing 8 of 8 reviews
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