#United States #San Francisco #SBA Lending #Casca #Celtic Bank

Celtic Bank Partners with Casca to Enhance SBA Lending

Celtic Bank, recognized as one of the top ten SBA 7(a) lenders in the United States, has taken a significant step forward by partnering with Casca, noted for its cutting-edge AI-native loan origination platform. This collaboration aims to revamp the SBA lending program at Celtic Bank, allowing for increased loan volume, improved conversion rates, and an overall superior digital experience for borrowers, thus greatly reducing the reliance on manual processes.

Since 2013, Celtic Bank has carved out a reputation as a premier SBA lender, and its latest partnership with Casca reflects its commitment to embracing advanced technology to enhance its lending capabilities. By integrating Casca's platform, Celtic Bank is poised to accelerate commercial loan origination, supporting small business owners in accessing crucial funding more efficiently than ever before.

One of the standout features of Casca's platform is its rapid deployment capability. Traditional loan origination systems can take upwards of a year to implement, yet Casca's modern, cloud-based architecture enables Celtic Bank to transition from contract signing to operational configuration in just a few weeks. This swift implementation process allows Celtic's lending teams to begin using the platform almost immediately, without the lengthy delays typically associated with technological integration in the banking sector.

A Strategic Move for Growth

This partnership is not merely a technological upgrade; it represents a strategic investment for Celtic Bank as it seeks to expand its SBA portfolio. Celtic's status as an SBA Preferred Lender gives it the authority to approve loans quickly, bypassing the need for additional reviews by the SBA. This means that borrowers can expect faster decisions and funding when they apply for small-dollar loans, a critical factor for many small businesses striving for growth.

Casca's platform simplifies complex SBA forms, transforming them into an intuitive, step-by-step process that guides borrowers seamlessly, reminiscent of how TurboTax assists users with tax filings. This simplification not only reduces manual errors but also eliminates the back-and-forth communications that traditionally slow down the loan origination process. Furthermore, Casca automates financial analysis and documentation, reducing tasks that previously took hours down to mere minutes.

Empowering Small Business Owners

Todd Boren, President and COO of Celtic Bank, emphasized the importance of finding a technology partner that aligns with Celtic's ambition for small-dollar SBA lending. He stated, “Casca's deployment speed and scalability are unmatched compared to our previous experiences with conventional lending technologies. We’re enthusiastic about the prospect of expanding our SBA portfolio using a platform designed specifically for our lending approach.”

For small business owners, this means a far more streamlined experience when applying for loans under Celtic Bank’s SBA 7(a) Express program. They can complete their applications online, receive swift decisions, and move toward funding without undue hurdles.

Lukas Haffer, CEO, and Co-Founder of Casca, highlighted the broader impact of this partnership, stating, “Behind every SBA loan is a family betting on themselves, a Main Street storefront opening its doors, a community getting stronger. That's why we built Casca. When lenders can move faster and reach more borrowers, this creates positive ripple effects within the communities those businesses serve.”

The collaboration between Celtic Bank and Casca marks a significant evolution in the landscape of SBA lending. As more financial institutions begin to recognize the value of AI-driven technology, the potential for small businesses to gain access to crucial capital seems brighter than ever. The partnership promises not only to enhance operational efficiencies but also to foster economic growth within communities, ensuring that more small business owners receive the support they need to thrive.

With a growing roster of financial service providers, including major players like Live Oak Bank and Huntington National Bank leveraging Casca’s platform, it's clear that the future of small business lending is poised for transformation. As Celtic Bank continues to lead in SBA loans, the partnership with Casca stands out as a visionary approach to modern lending.

About Celtic Bank

Celtic Bank, established in 2001 and headquartered in Salt Lake City, Utah, provides a comprehensive suite of financing solutions tailored for small and medium-sized businesses. As an SBA Preferred Lender, it holds the authority to directly approve SBA loans, ensuring faster turnaround times and more adaptable conditions for borrowers. To explore more, visit celticbank.com.

About Casca

Founded in 2022, Casca is at the forefront of commercial lending technology with its AI-native loan origination platform, which drastically reduces origination timelines. With prominent backing from investors, Casca is transforming the way financial institutions process loans. For additional details, check out cascading.ai.