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Celtic Bank SBA 7(a) loans review

Government-backed loans from $350K to $5M with this SBA Preferred Lender.’s rating: 4.42 / 5.0


  • Best for government-backed loans with a competitive rate.
  • Pick something else if you want fast, unsecured funding.


Min. Amount$350,001
Max. Amount$5,000,000
Loan TermUp to 300 months
RequirementsOwner-operated, for-profit, meet other SBA loan requirements.

Is Celtic Bank participating in the Paycheck Protection Program?

Yes. Celtic Bank participated in the initial round of the Paycheck Protection Program (PPP), and is offering Second Draw loans as of January 28, 2021. However, it's only offering these loans to existing customers who received their first PPP loan from Celtic Bank. All other businesses will need to look elsewhere. Find out more about the program with our guide to Second Draw loans.

First, do I qualify?

You must meet the following requirements to qualify for an SBA loan from Celtic Bank:

  • Owner-operated business
  • For-profit business

You’ll also need to meet the SBA requirements for its 7(a) loans, including meeting its size requirements for small businesses.

What makes Celtic Bank SBA loans unique?

Celtic Bank’s main strength is its experience with SBA lending. It’s one of the most active SBA lenders in the country — even for a Preferred Lender. This means it’s an expert navigating the process of providing government-backed business funding, which can get complicated and extremely time-consuming with other lenders.


  • Fast turnaround for an SBA lender
  • Expert guidance on your application
  • Easy to get in touch through live-chat or phone


  • Few online customer reviews
  • Doesn’t disclose rates and fees online
  • Limited information on its website

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Fundbox lines of credit
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Bitty Advance business cash advances
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Bitty Advance business cash advances
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With APRs in the triple digits, this is best saved as a last resort.

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How do I apply?

You can get started on your application through the Celtic Bank website, over the phone or by visiting a branch near you.

Here’s how to apply online:

  1. Go to the Celtic Bank website.
  2. Click Get started under Borrow money.
  3. Answer questions about the loan you want to apply for, yourself and your business.
  4. Click Submit.

Wait for a representative to contact you to discuss your options. If you’d rather not wait, reach out by calling 877-251-2873.

What documents do I need to apply?

Celtic Bank doesn’t disclose which documents it requires for its SBA 7(a) loans. However, the SBA has a long list of document and form requirements, which you can read about with our guide to SBA 7(a) loans.

How do repayments work?

You repay your SBA 7(a) loan directly to Celtic Bank each month until the loan term is up. Terms can extend up to 25 years, depending on your loan amount. If you have any questions or concerns, reach out to customer service.

Learn how Celtic Bank compares to other providers by reading our guide to business loans.

Business loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don't take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Celtic Bank could be a good choice if you’re looking for a large SBA 7(a) loan. It’s an SBA Preferred Lender, meaning it has the authority to underwrite your application itself, speeding up what could be a months-long process. It’s also one of the top 10 most active SBA lenders in the country.

But it’s not for everyone. You might want to consider working with another lender if you want to borrow less than $350,000. And even though it might have a faster turnaround than non-preferred lenders, online lenders can likely get you funding quicker.

Not sure Celtic Bank is right for you? Compare other business loan options below.

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