Bank & Trust Company
Bank & Trust Company is an active SBA lender in the United States, a bank offering SBA-guaranteed small-business loans. Currently rated 4.8 stars across 28 Google reviews.
About Bank & Trust Company
Bank & Trust Company offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on the SBA 7(a) loan program, they provide flexible financing options for various business needs, including working capital, equipment purchase, and real estate acquisition. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Located in Litchfield, Illinois, they serve local businesses and have a strong record of approving substantial loans, with approvals reaching up to $2,430,000. The bank prides itself on personalized service and a deep understanding of small business financing requirements, making it a reliable partner for entrepreneurs looking to expand or stabilize their operations.
Common questions about Bank & Trust Company
What is this place and what can I find here?
This is a bank that provides SBA loan services, including 7(a) and other small business financing options, to help entrepreneurs grow and succeed.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated based on availability.
What are the hours of operation?
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with special hours by appointment.
Is there a fee to use this?
There are no fees to visit or inquire; fees apply only to specific loan processing and closing costs.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local residents and small business owners within the regional area.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of around 640 is typically required, though higher scores improve approval chances.
How long does the traditional underwriting process take from start to close?
The underwriting process generally takes between 30 to 45 days, depending on the complexity of the application.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Bank & Trust Company typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Bank & Trust Company to confirm current weekend availability before you go.
How do I get there and where do I park?
Bank & Trust Company is located at the address listed on this page — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for Bank & Trust Company, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Bank & Trust Company itself, which runs its own lending under its own ownership. If you work at Bank & Trust Company, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Bank & Trust Company — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Bank & Trust Company before applying. If you represent Bank & Trust Company, claim this listing to keep its information up to date.
How do I contact this listing directly?
Bank & Trust Company can be reached by phone at (217) 324-3935 or via their contact form at banktr.com/contact-us/. For SBA lending assistance, ask for the business lending or SBA department. Confirm specific SBA loan products and requirements with the bank.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Bank & Trust Company can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask Bank & Trust Company directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Bank & Trust Company participates in SBA Express depends on its specific SBA lending authority. Contact Bank & Trust Company and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Bank & Trust Company can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Bank & Trust Company's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Bank & Trust Company directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Bank & Trust Company what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Bank & Trust Company to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Bank & Trust Company to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Bank & Trust Company weighs this case by case under its own policy, so be upfront about your history and ask Bank & Trust Company how it evaluates prior bankruptcies.