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Celtic Bank

Celtic Bank
Overall Satisfaction Rating 2.67/5
  • 5 stars
    4
  • 4 stars
    7
  • 3 stars
    1
  • 2 stars
    1
  • 1 stars
    11
Based on 24 ratings

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    Celtic Bank Reviews

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    Page 1 Reviews 0 - 10
    Rated with 5 stars
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    Verified Reviewer
    Original review: April 29, 2020

    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.

    5 people found this review helpful
    Rated with 4 stars
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    Verified Reviewer
    Original review: Jan. 23, 2020

    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!

    5 people found this review helpful

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      Rated with 5 stars
      Verified Reviewer
      Original review: Nov. 3, 2019

      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

      3 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Oct. 27, 2019

      Celtic Bank's SBA Lending team worked with us through 3 properties that we pursued for our ** Business in Gainesville, Florida. They were extremely responsive, sensitive to all of our deadlines and as new business owners, we really appreciated their encouragement and patience. We give our highest recommendation to Celtic Bank for all small business owners looking to fund their business through their SBA program.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 20, 2020

      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!

      Be the first one to find this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: April 4, 2020

      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.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 2, 2020

      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.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 30, 2019

      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.

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: July 18, 2019

      This company continues to send me offers for Indigo Platinum Mastercard. It's not unusual to get more than one spam email from them in the same day, and rarely does a day go by that I don't get at least one offer. There is no point in unsubscribing... The offers keep coming. I've emailed the bank to get it to stop, no response. I would think twice about doing any sort of business with this bank. They do not seem ethical.

      9 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: July 14, 2019

      This Bank has unexperienced underwriters. My credit score is 799, excellent business credit history, their demands were unreasonable. They wanted 2018 taxes when I already provided them with an extension. So I did file my taxes. Then they said I need to provide a proof that I paid my business tax due that I just filed. Then I finally realized that the underwriter Lori ** wouldn't approve the SBA line regardless of what I provided her...stay away as far as you can. They will burn you. Just don't know how SBA allows them to provide SBA loans.

      12 people found this review helpful
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      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.

      by Barbara Friedberg Personal Finance Contributing Editor

      Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

      Celtic Bank Company Information

      Company Name:
      Celtic Bank
      Year Founded:
      2001
      Address:
      268 S State St, Ste 300
      City:
      Salt Lake City
      State/Province:
      UT
      Postal Code:
      84111
      Country:
      United States
      Phone:
      (800) 509-6191
      Website:
      www.celticbank.com