Press Releases

SALT LAKE CITY, UTAH, May 27th, 2020 – Celtic Bank, a Utah-based industrial bank specializing in small business lending, officially funded over 99,000 Paycheck Protection Program (PPP) Loans, totaling over $2.5 billion since the April 3rd launch of the program."Celtic in conjunction with our referral and strategic partners has made a significant contribution to the small business community related to the Paycheck Protection Program,” said Celtic Bank CEO Reese Howell. "It has been extremely gratifying to see firsthand the impact our amazing team of people has made in the lives of so many business owners and employees."With a small staff of just over 200—all working remotely around the clock—Celtic Bank employees helped save over a half a million jobs across the country."Everyone at Celtic was remarkably responsive, engaged and personable given the tight timeframes and what must be an amazing volume of applications,” said Creative Director and CTO of Antics Digital Marketing Kevin Welsh, after receiving his PPP funds from Celtic Bank. "Compared to the other banks we first engaged with, your interactions with us were night-and-day different. That difference was valued more than you may know, especially given the circumstances."If you haven’t secured PPP funding yet for your business, over...

SALT LAKE CITY, UT (Monday, July 30th 2018)—Celtic Bank is pleased to announce that Tim Schutte has been hired as Vice President of Business Development in the bank’s SBA/USDA Lending Department. Tim will be based out of Encinitas, California.  Tim has been a leader in the finance industry for over 38 years—thirty of which have been devoted to small business finance and development. He has consistently performed as a top producer in the greater San Diego area and has received multiple recognitions for his work in SBA lending, commercial real estate, and conventional loans. “I am excited to be working for Celtic Bank and for the opportunity to work with an excellent team,” says Tim. “As a BDO at Celtic Bank, I will be able to expand my territory and offer my referral sources quality service.”  “I am really excited to have Tim Schutte join my team here at Celtic Bank,” says Chris Nalley, Senior Vice President of Business Development. “I have known Tim for a long time, and we worked together for several years at Comerica Bank where he was regularly the top BDO in the country for us. He has an extensive background in SBA lending and a nationwide referral...

SALT LAKE CITY, UT (Thursday, May 10, 2018)—Celtic Bank is pleased to announce that Michael Rice has been hired as Vice President of Business Development in the bank’s SBA/USDA Lending Department. Michael will be based out of the San Francisco, North Bay.  Michael joins Celtic Bank with over 25 years of experience in sales, credit, and operations, with a primary focus on providing direct lending solutions to business owners and his valued referral partners. Michael is a top producer and industry veteran—growing the SBA divisions for regional banks and finance companies all over northern California. He specializes in construction lending and has worked extensively with small business owners in hospitality, food service, nursing home/assisted living and automotive. Most recently, Michael was the BDO and SVP of SBA Lending at California Bank of Commerce.  “I am excited to provide business lending solutions on a national basis with a leading SBA and USDA lender with expertise in construction lending, and with expertise in financing the industries I have served so well in my 25 years of SBA lending,” says Michael. “This is a tremendous opportunity for me to partner with an SBA lender so aligned with my own sales, credit culture and desires...

SALT LAKE CITY, UT (Thursday, March 22, 2018)--Celtic Bank is pleased to announce that Scott Foster has been hired as Senior Vice President of Business Development in the bank’s SBA/USDA Lending Department. Scott will be based out of Phoenix, Arizona.  Scott joins Celtic Bank with over 20 years of experience in the banking industry—including 14 years in SBA lending where he helped produce over $240 million in funded loans, and six years in relationship management, commercial underwriting, and business banking management. Most recently, Scott was working as VP of Business Development in the SBA Lending department of Wells Fargo. “I am excited to bring my SBA expertise and business talents to Celtic Bank,” says Scott. “The opportunity to combine my talents with an aggressive national lender that serves the small business owner with lending solutions that fit their business growth needs is a fantastic partnership.”   “We are very excited to have Scott join our team here at Celtic Bank,” says Tom Green, Senior Vice President of Business Development. “He brings with him a lot of experience in the SBA industry which will translate into more loan production and assisting more clients in financing their dreams.”   Scott holds a bachelor of science degree...

SALT LAKE CITY, UT (Wednesday, January 3, 2018)--Celtic Bank is pleased to announce that Mark Jackson has been hired as Vice President of Business Development in the bank’s SBA Lending Department. Mark will be based out of Atlanta, Georgia.  Mark joins Celtic Bank with over 35 years of experience in the small business finance industry with a diverse background including refinances, property and business acquisitions, startup and construction funding. He enjoys helping small businesses get funding and has a diverse loan portfolio--including unusual projects such as power plants, landfills, and pine straw wholesalers, as well as the more traditional convenience stores, childcare centers, car washes, restaurants, hotels, and even light manufacturing and distribution.  “My reason for joining the massively successful SBA lender, Celtic Bank, is their credit culture of getting small business loans approved and closed quickly, one way or another, but with common sense,” says Mark. “Celtic is an aggressive national lender that truly serves the small business community with SBA lending the way the program was originally designed to do. Today that is more than uncommon, and I am excited to be a part of Celtic Bank and to see all we can accomplish for our borrowers and the...

SALT LAKE CITY, UT (Wednesday January 3rd, 2018)--Celtic Bank is pleased to announce that Eric Helt has been hired as Vice President of Business Development in the bank’s Equipment Leasing and Finance Department. Eric will be working with Celtic Bank’s Specialty Commercial Finance Group, based out of the bank’s corporate headquarters in Salt Lake City, Utah.Eric joins Celtic Bank with 29 years of experience in the equipment finance, holding such positions as collection manager, account executive, sales manager, vice president, and president of his own brokerage. Most recently, Eric was Vice President at Continental Bank in Salt Lake City.“I am excited to join my talents and expertise with Celtic Bank’s Specialty Commercial Finance Group,” said Eric. “I have focused my entire career on helping small businesses obtain financing at the most competitive terms and rates. Celtic Bank offers a unique approach to equipment lending, and I am anxious to assist in offering these bank products to a growing number of customers.”“We are very excited to have Eric Helt as part of our team,” said Trevor S. Rawlings, VP of Celtic Bank Leasing and Equipment Finance Group. “He has a been a high performer with over 25 years of experience, financing small...

Celtic Bank, a top-ten nationwide SBA lender headquartered in Salt Lake City, Utah, announces it recently closed funding on a 1.5-megawatt solar project at the University of Utah. The panels were installed at the 729 Arapeen and 383 Colorow facilities within the University of Utah Research Park on campus, and include multiple mounting configurations (rooftop, parking canopy, and ground).While most lenders limit their involvement to providing tax equity, permanent debt, or construction funding, Celtic Bank provided all three capital components for this project. By partnering with Celtic Bank, the university was able to complete this project with no out-of-pocket costs and no taxpayer capital at risk.“The University of Utah is excited about the opportunity to significantly expand our alternative energy sources,” said Real Estate Administration Executive Director Jonathon Bates. “These projects not only align with the university’s commitment to be carbon neutral by 2050, but also begin the process of reinforcing sustainable building practices in Research Park on the cusp of its 50th birthday. ” Amy Wildermuth, Chief Sustainability Officer at the university, added, “Projects like this one, which can supply a whopping 1.5 MW of power, are much more than token gestures. They diversify our energy supply and are visible...

SALT LAKE CITY, UT (Wednesday, November 8, 2017)--Celtic Bank is pleased to announce that Mike Shearburn has been hired as Vice President of Business Development in the bank’s SBA/USDA Lending Department. Mike will be based out of Dallas, Texas.  Mike joins Celtic Bank with over 40 years of experience in the banking industry, including 22 years in SBA lending and 25 years in car wash financing, where he helped finance over 65 car wash facilities, totaling over $140 million in loans. Most recently, Mike has been working as a car wash consultant and business broker.  “I am excited to be a part of the team at Celtic Bank,” said Mike. “Their business acumen in the world of SBA lending is second to none. The underwriting and closing teams are top notch and can be counted on to get the job done! Joining the Celtic team was an easy decision to make.”  “Mike comes to us with a wealth of SBA lending experience, having been in the industry for a number of years,” said Chris Nalley, Senior VP of Business Development. “He has knowledge of many industries but really specializes in financing car washes--having helped finance over $140 million in that industry....

SALT LAKE CITY, UT (Monday, March 14, 2017) — Celtic Bank is pleased to announce that Daniel Choudhury has been hired as Vice President of Business Development in the SBA and Commercial Lending department.Daniel Choudhury has been in commercial real estate finance for over 15 years, holding such positions as commercial mortgage broker, lender, business development officer and president of his own mortgage brokerage. He has successfully completed transactions across most property and transaction types, and has been involved in financing transactions in excess of $250MM.Daniel is trusted by his clients to not only procure financing, but also provide sound advice on project feasibility, underwriting analysis and general market knowledge. “I love the challenge of finding creative solutions to complicated scenarios,” says Daniel, who joined Celtic Bank to offer his services to business across the nation.“I am very excited to have Daniel join my team here at Celtic Bank,” said Chris Nalley, SVP of Business Development. “Daniel brings a wealth of knowledge in commercial financing and specifically within the SBA arena.  Joining Daniel’s experience with the array of products we can offer here at Celtic Bank is an ideal fit.”