Michael Fosmark will head Celtic Bank’s new Specialty Commercial Finance division. This new department brings together the bank’s Leasing & Equipment Finance, Construction Financing, Asset-Based Lending and Renewable Energy divisions.
Fosmark joined Celtic Bank in 2015 to build its new equipment finance division. He spent the previous 12 years building a local Utah bank from the ground up.
“In today’s world, one-size-fits all lending doesn’t meet the need of many companies. Our goal at Celtic Bank is to provide tailored financing solutions, along with our SBA products, to meet the specific needs of our clients and help their business grow,” Fosmark said.
Fosmark will work with additional specialty finance leaders at Celtic, including Daniel Godfrey in Asset-Based Lending, Justin Fuller in Renewable Energy and Steve Howell in Construction.
This new initiative will also raise awareness among existing and past Celtic Bank clients, who may not know the bank’s credit appetite extends into these specialty offerings.
Headquartered in Salt Lake City, UT, Celtic Bank is a privately owned industrial bank chartered by the State of Utah.