Underwriter - Franchise Group

Celtic Bank is seeking an experienced and detail-oriented Underwriter to join our growing Franchise Finance team. This role is responsible for analyzing and underwriting complex credit requests for franchise clients across a variety of industries, including restaurants, fitness, retail, and service brands.

The ideal candidate will bring a strong foundation in commercial lending, credit analysis, and risk assessment, along with the ability to make sound credit decisions that support both portfolio growth and long-term risk management. This position plays a key role in delivering exceptional service while maintaining the professionalism, efficiency, and collaboration that define the Celtic Bank team.

WHAT YOU’LL DO AT CELTIC BANK

• Evaluate and underwrite franchise loan applications including acquisitions, refinances, remodels, and development deals.
• Prepare clear and concise credit approval memos for internal credit committees and/or syndication partners.
• Perform detailed financial analysis of borrower and guarantor financial statements, tax returns, business plans, and projections.
• Assess franchisee performance metrics, brand strength, unit-level economics, and competitive positioning.
• Identify key credit risks and structure loans to mitigate potential exposures (covenants, collateral, guarantees, etc.).
• Collaborate with relationship managers, credit officers, legal, and operations to facilitate efficient deal processing.
• Monitor existing loan portfolio for performance trends, covenant compliance, and early warning signals.
• Participate in periodic portfolio reviews and contribute to credit policy updates and risk appetite frameworks.
• Complies with and adheres to all regulatory compliance areas, policies and procedures and best practices.
• Perform other duties as assigned.

Requirements

WHAT YOU’LL NEED TO DO IT

• Bachelor's degree, preferably in Finance, Accounting, Business, Economics or a related field.
• 2–4 years of commercial credit underwriting experience, preferably in franchise finance or middle-market lending.
• Proficiency in financial modeling, ratio analysis, and credit risk evaluation.
• Strong technical skills - including but not limited to Microsoft Office, Adobe, SharePoint/OneDrive, and internet applications.
• Ability to learn quickly, adapt to new processes, and work in a collaborative environment.
• Ability to maintain a professional disposition with both internal and external parties, especially while handling deadlines, delays, and setbacks.
• Excellent interpersonal and communication skills (both verbal and written) and the ability to establish and maintain effective work relationships.
• Ability to problem solve and work independently, with high attention to detail and ability to prioritize and manage multiple transactions simultaneously.
• Ability to thrive in a deadline-driven environment, including by demonstrating excellent time management, organization, and planning skills.

Benefits

• Medical, dental, vision
• 401(k) with employer match
• Life and long-term disability coverage
• HSA and FSA plans
• Holidays and paid time off requests
• Robust wellness program (we’re talking catered meals three times a weeks, lunch and learns, and onsite gym.)

Headquartered in the heart of downtown Salt Lake City, Utah, Celtic Bank was named a top SBA lender in the nation in 2025! Celtic Bank is a leading nationwide lender specializing in SBA 7(a), SBA 504, USDA B&I, express loans, asset-based loans, commercial real estate loans and commercial construction loans.

Celtic Bank is an equal opportunity employer and complies with all applicable federal, state and local fair employment practices laws.

Physical and Other Requirements

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. The demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

• Stationary Work: The employee is frequently required to stand; walk; use hands to type, handle documents, and perform other office related duties. Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.
• Mobility: The employee in this position needs to occasionally move between work sites and inside the office to access file cabinets, office machinery, etc.
• Communicate: The employee is regularly required to talk or hear and will frequently communicate with others. Must be able to read, write and understand fluent English.

• Work Model: The employee in this position will work either a fully Onsite, Hybrid or Remote work model. All employees, regardless of location, may be required to travel to the Salt Lake City office for mandatory company meetings, events, or related occasions.
• • Utah-based employees: Hybrid work schedule available after initial training period in our Salt Lake City, Utah office – department and job requirements will determine eligibility.