About Celtic Bank
A link has directed you to this review. Its location on this page may change next time you visit.
- 4,186,079 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
I received my first PPP Draw from Celtic Bank from Blue Vine. A year later they file a claim against my Bank for the loan. This has to be illegal. You can't make a loan and then file a fraudulent claim a year later. The payback period has not even started. I got a legit loan for a current and still operating business. The loan was only 40000. They have given out loans much higher to actual crooks. This ridiculous and not how you treat customers. I will be filing.
I received my first PPP Draw from Celtic Bank but was denied Draw 2 without any reason. A year later they file a claim against my Bank for the first loan. This has to be illegal you can't make a loan and then file a fraudulent claim a year later. The payback period has not even started. I got a legit loan for a current and still operating business. The loan was only $3,750. They have given out loans much higher to actual crooks. This ridiculous and not how you treat customers. I will be filing a complaint with the SBA as well.
Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.
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 than 45 other requests that came before yours." These were not statements made when we secured our relationship a number of years ago.
Matt ** and team are cons, bait and switch pros! They are like old school car dealers with non existing fees! Don't deliver. Ask for GOOD FAITH DEPOSITS? CONSTRUCTION MONITORING FEES AND ABOVE RATE INTEREST! and if you don't except they wait months to deny... BEWARE! BANK LEADERS DON'T RESPOND EITHER!
Our own bank USBANK blew it on our PPP application. We submitted applications they day it was announced. We gave them everything else they requested immediately since they already had most of our info as a banking client. I called every day with no update from them. Then the funds ran out. We thought we were done for. Then congress announced more money to help the smaller businesses like us.
We submitted 6 PPP loan apps to multiple recommended SBA affiliates. Celtic Bank was the quickest turn around and Veronica needs a raise for how quickly she acted for our company. We had human interaction that could actually help and not some person in customer service with USBANK who knew nothing and could do nothing with our application. If we lived in Salt Lake, we'd conduct our business with Celtic Bank. I'd give them a try.
After having 3 loans for online products and two motorcycle loans through them they now say I'm not creditworthy to them. I have not missed one payment on any loans and paid two off early. I was approved for a $830 loan a week ago and Now that we have this coronavirus I'm denied for any loan. Big banks I'm done with you all for the rest of my life. My money will go in a jar.
Celtic Bank works with Kabbage. They decided to pull funding and remove all credit lines right now, during the Covid-19 time. They are doing the opposite of what other financial institutions are doing, making it harder for businesses. I encourage everyone affected to contact their state Attorney General. Their behavior during this time is deplorable.
As a new business owner, I had many questions about the loan process as well as next steps. The staff at Celtic Bank were patient and gave advice to help me throughout the process. Lea J, my closing agent, was courteous and assisted me every step of the way. Thanks Lea, and thank you Celtic Bank!
Although Celcin (Commercial Loan Specialist) was very helpful and cordial, I was VERY disappointed in this bank. A complete WASTE of a month's time. I was told 2 times that we pre-qualified (we meet all of the necessary requirements), One for a $250k loan, then one for a $150k loan. They came back and told us the 250K was rejected but we qualified for a $150k loan. Then they came back and reject us for the $150k. My companies' assets exceed this amount and my personal credit rating was around 800. My personnel net worth is around 6 times greater than the requested amount. This just does NOT add up. I cannot help but wonder what the REAL reason was.
I've worked with several asset based lenders over the 20 years in business and Celtic was able to build a comprehensive SBA ABL program that enabled us to not only borrow on receivables and Inventory but PO financing was bundled into the equation at very reasonable rates. This trifecta enabled us to achieve growth we wouldn't be able to without such a program.
If you're looking for a bank that specializes in SBA programs Celtic is the bank to work with. The Celtic team is pleasant to work with and has helped guide us through key phases of our business development. Daniel Godfrey the SVP for ABL programs did a wonderful job putting the program together and explaining how it works and Tami ** the Portfolio Manager has assisted us monthly filing our reports taking on quite a bit of the heavy lifting. We have worked with several of the Celtic team members on a SBA term loan and they were all very helpful through the complex world of SBA programs. I hope to continue to work together with Celtic for many years to come as my business takes some exciting new paths!Anthony
Frame It All President
Celtic Bank author review by Barbara Friedberg
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. It many cases, applicants can be approved in 48 hours.
Savings: Celtic Bank’s savings tools include MMAs and CDs. The minimum amount for each of these accounts is $1,000.
Celtic Bank Company Information
- Company Name:
- Celtic Bank
- Year Founded:
- 268 S State St, Ste 300
- Salt Lake City
- Postal Code:
- United States
You’re signed up
We’ll start sending you the news you need delivered straight to you. We value your privacy. Unsubscribe easily.