Download our Express Loan Application here: Celtic Express Loan Application

Who is Celtic Bank?

  • The Celtic Bank Express product was designed specifically with the needs of small business owners in mind. Celtic Express is a streamlined, automated loan product utilizing two (2) SBA Loan Programs. This provides a low interest rate with extended repayment terms for users who need fast access to working capital. Celtic Bank understands that most of today’s businesses are either service based businesses or companies with limited capital assets. These companies have traditionally faced enormous challenges in obtaining financing due to collateral restrictions of their banks. The Celtic Express program was designed with this in mind. When your business needs working capital to grow, Celtic Express is the answer for loans from $20,000 to $150,000. The bottom line is, Celtic Bank Express brings big deals to small business.
  • Celtic Bank, in business for more than ten years, is a small highly focused bank, but is among the top 10 most active lenders to small businesses in the nation. We specialize in giving customers tailored financing. For this, we have repeatedly received SBA lender of the year awards in states throughout the nation.


Celtic Express Loans

Utilizes the SBA Small Loan Program and Export Express Loan Programs:

7(a) Small Loan Program: Potential borrowers include: All SBA eligible businesses and/or borrowers

Export Express Loans: Potential borrowers include: small businesses which have been in operation for at least 12 months and are either currently exporting products or services or intend to begin exporting products or services with the loan proceeds. 70% of loan proceeds must be used to support exporting activities and not domestic activities.


Loan Features:

  • Loan is fully amortized with no access fee per transaction
  • Automated process provides fast turn-around time
    • Loan amounts from $20,000 to $150,000
    • 10 year term – fully amortized
    • Unsecured-no collateral required for Export Express if just working capital use
      • 7(a) Small Loan Program requires best available lien on business assets
  • Variable Interest Rate based on Wall Street Journal Prime, adjusted calendar quarterly
    • 7(a) Small Loan Program
      • Loans up to $25,000 at prime +4.75%
      • Loans of $26,000 to $50,000 at prime +3.75%
      • Loans of $51,000 to $150,000 at prime +2.75%
    • Export Express
      • Loans up to $50,000 at prime +4.75%
      • Loans of $51,000 to $150,000 at prime +4.50%
  • Packaging fee is percentage of loan amount and will be deducted from the loan proceeds
    • 3% of the loan amount not to exceed $550 for loans from $20,000 to $50,000
    • 2% of the loan amount not to exceed $1,000 for loans from $51,000 to $100,000
    • 2% of the loan amount not to exceed $1,500 for loans from $101,000 to $150,000
  • SBA Guaranty fee is 2% of the guaranteed portion (85% for 7(a) Small Loan Program, 90% for Export Express) of the loan will be deducted from the loan proceeds (Guaranty fees have been waived for 2014)
  • Loan payments automatically drafted from the business checking account at the borrowers established financial institution
  • No prepayment penalty-21 day payoff notification required
  • Technical assistance included-borrowers receive pre and post loan closing management and technical assistance as needed from SBDC’s, SCORE and or Women’s Business Centers


Eligibility Requirements:

  • SBA eligible industries considered
  • Start-up business allowed
  • Loan proceeds for business acquisition not allowed
  • Working capital loans to businesses after acquisition is completed are allowed
  • Franchise must be on the SBA approved Franchise Registry (www.franchiseregistry.com) with SBA required documentation
  • Liquid assets of individual owner cannot exceed two times the loan amount or $100,000.00, whichever is greater-does not include IRA, 401K or other restricted accounts
  • Income verified via 4506 tax transcripts from IRS
  • Utilizes Fair Isaac Small Business Credit Scoring Model, “Liquid Credit” for pre-approval of credit, which evaluates credit history of applicant and industry data including type of business, length of operations, etc. Personal credit issues like past due accounts, collection account settled for less than full balance etc. have a very negative effect on applicants’ business score and loan decision


Loan Application Process:

  • Application submitted by TA provider, applicant or participating bank partner
  • Upon initial credit review, processing checklist is issued to borrower and or TA provider
  • Commitment and closing documents are issued once all checklist items are received, reviewed and approved by underwriting (including business plan and two years of financial projections on a Celtic Bank form)
  • Funding occurs after receipt and review of executed loan documents


Ineligible Businesses

*Not for profit business *A business with any products or services of a sexual nature
*Fishing and shore operations *A business that is engaged in lending (with the exception of mortgage brokers)
*Investment real estate: apartments, rental housing or multi-tenant buildings *A business that is engaged in gambling
*Speculative real estate or business ventures *A business that is engaged in pyramid sales and distribution
*Agricultural and farm businesses (growing crops/animal distribution) *A business that restricts patronage
*No gas stations or businesses with EPA sensitive impact *A business or borrower that had prior loss to the govt
*Mines (including sand and gravel pits) *Consumer and marketing cooperatives
*Applicants doing business in foreign countries *A business engaged in lobbying activities (50%)
*Businesses engaged in teaching, instructing, counseling or indoctrinating religious beliefs (religious or secular setting) *Insurance companies
*SBA loan packagers



Call or email us anytime! We look forward to learning about your business and its potential. Call and ask for Terry at the number below or shoot me an email!


Fred Crispen  or  Terry Crispen

Toll Free  866-644-0042
Fax  866-717-7718



 For a downloadable pdf version of this web page fact sheet click here.


We bring big ideas to your small business!


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