First Bank Richmond

This is a commercial bank that offers SBA loan programs and business financing solutions designed to support small businesses in the local community and beyond.

It's recommended to schedule an appointment to meet with a lender, but walk-ins may be accommodated depending on availability.

First Bank Richmond's main Richmond Banking Center (20 North 9th Street) is open Monday–Thursday 9:00 AM to 4:00 PM and Friday 9:00 AM to 5:00 PM. Hours vary by branch; confirm the specific location's hours and SBA lending availability with the bank directly.

There are no fees for simply visiting or consulting; fees apply only if you proceed with a loan or financial service.

This bank serves small business owners and entrepreneurs in the region, primarily supporting local residents and businesses.

A minimum personal credit score of approximately 640 is generally required, though this may vary based on the loan specifics.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of documentation.

Several First Bank Richmond branches are open Saturday mornings (8:00 AM to 12:00 PM or 9:00 AM to 12:00 PM), but SBA lending staff availability on weekends should be confirmed directly with the bank.

First Bank Richmond is located in Indiana — 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.

This page is an independent directory listing for First Bank Richmond, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First Bank Richmond itself, which runs its own lending under its own ownership. If you work at First Bank Richmond, you can claim this listing from this page to manage it.

The core details for First Bank Richmond — 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 First Bank Richmond before applying. If you represent First Bank Richmond, claim this listing to keep its information up to date.

You can reach First Bank Richmond by phone at (765) 962-2581 or online at firstbankrichmond.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with First Bank Richmond before relying on them.

Based on its approved SBA loans, First Bank Richmond most often finances businesses in restaurants & food service, manufacturing, and automotive repair & services. This reflects First Bank Richmond's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with First Bank Richmond which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether First Bank Richmond participates in SBA Express depends on its specific SBA lending authority. Contact First Bank Richmond and ask if it offers SBA Express and what the current limits and terms look like for your situation.

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. First Bank Richmond can confirm its current PLP standing — ask before you apply if speed matters to you.

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. First Bank Richmond's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First Bank Richmond directly whether it considers start-up loans.

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 First Bank Richmond what down payment it expects for your specific commercial real estate purchase.

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 First Bank Richmond to spell out any prepayment penalties before you sign.

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 First Bank Richmond to confirm it qualifies and how to document it.

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. First Bank Richmond weighs this case by case under its own policy, so be upfront about your history and ask First Bank Richmond how it evaluates prior bankruptcies.