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BreadRoute Review
Celtic Bank
3.5Our Celtic Bank Review
Celtic Bank is a Salt Lake City-based commercial bank lending to small and mid-sized businesses across the United States. It has ranked among the top ten SBA lenders in the country since 2013 and was the 4th largest SBA lender nationally for FY 2022 — making it one of the more experienced government-backed lenders in the market. Its product lineup is wide: SBA 7(a), SBA 504, SBA Express, USDA B&I, commercial real estate, construction, equipment financing, asset-based lending, franchise finance, and working capital loans, among others. Financing runs from $10,000 into the tens of millions. To qualify, most borrowers will need at least two years in business, a 650 credit score, and $10,000 in monthly revenue. Celtic Bank appears best suited for established businesses prioritizing SBA or USDA loan programs, or those needing larger commercial financing with a dedicated loan officer.
Who Is Celtic Bank Best For?
Based on eligibility requirements and available products.
- Businesses with good (but not perfect) credit
- Businesses that need equipment or machinery financing
- B2B businesses with outstanding invoices to unlock
- Established businesses that qualify for SBA programs
Financing Options
Eligibility Requirements
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Quick Overview
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Celtic Bank Pros & Cons
Pros
- Lends nationwide
- High loan amounts available
- Wide range of financing products
Cons
- Requires $10,000+ in monthly revenue
- Requires 2 Years in business
Frequently Asked Questions
Celtic Bank offers financing in the range of $10,000 to $10+ Million.
Celtic Bank typically requires a minimum credit score of 650. Businesses with scores above this threshold are more likely to qualify for favorable terms.
Celtic Bank offers the following financing products: Equipment Finance, USDA Business and Industry, Accounts Receivable, Construction Finance, SBA 7(a), Commercial Real Estate Financing, Inventory Financing, SBA Express, Line of Credit, Term Loan.
Celtic Bank requires a minimum of 2 Years in business. Newer businesses may want to explore alternative lenders with lower seasoning requirements.
Celtic Bank provides financing to businesses across the United States.
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