The economy is on a downslide right now. And, if you don’t play your cards right, you could easily crash and burn. But, the situation will get better. So, if you do what you can right now to prepare, you will come out on the other side ready to thrive. My advice is to use this time to learn everything you can about business finance and use the knowledge to get ready for an economy on the upswing.
So, let’s take a look at one of the quiet financial institutions that play a major role in the US economy: Celtic Bank. Here’s a crash course in what the bank has to offer right now.
- Who is Celtic Bank and why are we looking at them right now?
- What credit cards does Celtic Bank offer?
- Will you be able to access forgivable SBA-backed loans through Celtic to get you through this financial crisis?
If you’re interested in the above (and, you should be), keep reading.
First, who is Celtic Bank?
Celtic Bank, Utah, is a softer-spoken financial institution that has a strong foothold in the financial ecosystem in the US. By “soft-spoken,” I mean that they don’t brag about their partnerships, which are pretty impressive.
For example, last week we covered the impressive highlights of Stripe Capital and the Stripe Corporate Card. And, guess who’s working behind the curtain to power those programs? That’s right — Celtic Bank Corporation. They also lend through Square and many others. But, you won’t see them name-dropping their brand partners or blatantly boasting what they have to offer.
(And, the quiet institutions are usually the ones you need to watch closely.)
Next, What Credit Cards are Through Celtic Bank?
I’m not going to include a full list here. Instead, here’s a handful of Celtic Bank credit cards and a summary of features you can leverage.
- Stripe Corporate Card – 0% interest, $0 fees… (see link above for more)
- BlueVine – A business line of credit and/or debit MasterCard.
- Indigo – Celtic’s most well-known personal card for less than perfect credit.
While you may be able to leverage one of the above programs to your advantage, what you really want/need to know is next: what’s the top offer Celtic has to get you through this crisis?
Will Celtic Bank offer SBA-Backed PPP Loans?
The US Stimulus includes powerful help for small businesses impacted by COVID-19, which includes forgivable loans. And, the question you must be asking right now is whether or not you may be able to get a Paycheck Protection Program loan through Celtic. So, I reached out and asked.
The answer is “yes” — Celtic Bank will open up SBA 7(a) loans throught the forgivable program on April 3, 2020. So, get your paperwork ready today and be ready to apply. Not sure what you will need? Check out SBA’s sample application form, which outlines what you will need to have ready.
Final Thoughts
The purpose of this piece is just to let you in on a new institution with new resources that you may not have known about before. As we move through these times, you will need all the knowledge you can get. Stay safe, stay healthy, and please reach out if you need help navigating your business ship through the waves of this crisis.