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Wayne Bank and Trust Co

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Description

Wayne Bank and Trust Co offers a comprehensive range of SBA lending solutions tailored to meet the needs of small businesses seeking financing options. With a focus on supporting local entrepreneurs, the bank provides flexible loan programs that help fund various business ventures, including startups and established enterprises. Their experienced lending team works closely with clients to understand their unique financial situations and craft suitable loan packages. The bank’s SBA program history highlights their ongoing commitment to facilitating small business growth through the SBA 7(a) program, offering competitive terms and personalized service. Whether you’re looking to expand, purchase equipment, or improve cash flow, Wayne Bank and Trust Co is equipped to assist with loans up to $290,000, backed by their strong local presence and industry expertise. The bank’s approach emphasizes transparency, customer service, and a thorough understanding of SBA lending requirements, making them a reliable partner for your business financing needs.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.6
Google Review Count
35
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and business financing solutions designed to support small business growth in the Richmond area. You can find personalized service, expert advice, and flexible loan options tailored to your business needs. The bank specializes in SBA 7(a) loans, helping entrepreneurs access funding for expansion, equipment, and working capital.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours. Calling ahead can help streamline the process and prepare necessary documentation.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM. Special hours or appointments outside regular times can be arranged by calling in advance.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, standard loan application and processing fees may apply depending on the loan type and amount. All fees are disclosed upfront during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners in the Richmond area and surrounding regions. Non-residents may need to meet certain criteria or provide additional documentation.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally required, though higher scores improve the chances of approval and favorable terms.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of submitted documentation.
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