The New Washington State Bank
The New Washington State Bank is an active SBA lender in Indiana, a bank offering SBA-guaranteed small-business loans. Currently rated 5.0 stars across 9 Google reviews.
$4M
in SBA approvals since 2016
5
SBA loans funded
Fitness & Recreation · Automotive Repair & Services · Restaurants & Food Service
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About The New Washington State Bank
The New Washington State Bank offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth and development. With a focus on providing accessible financing options, this bank specializes in SBA 7(a) loans, helping entrepreneurs secure funding for a variety of business needs including working capital, equipment, and expansion projects. Located in New Washington, Indiana, the bank is committed to fostering local economic growth by offering personalized service and flexible loan terms. Their experienced team guides clients through the application process, ensuring clarity and efficiency from start to finish. Whether you're a startup or an established business, they aim to be a reliable partner in your financial journey, leveraging their expertise to match you with the right SBA programs and funding solutions. The bank's primary NAICS code, 327991, indicates a focus on manufacturing, aligning with their strength in supporting industrial growth. They have successfully approved loans up to $595,000, demonstrating their capacity to handle sizable funding requests. Overall, The New Washington State Bank is dedicated to helping local businesses thrive through tailored SBA financing options and exceptional customer service.
Common questions about The New Washington State Bank
What is this place and what can I find here?
This is a local bank offering SBA loan programs and business financing solutions tailored to small and medium-sized businesses in Indiana. You can find support for business expansion, equipment purchases, and working capital needs, along with personalized guidance throughout the loan process.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in visits are also welcome during business hours. Calling ahead can help you prepare the necessary documentation and streamline your application.
What are the hours of operation?
The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It's advisable to contact the branch directly for specific hours or to schedule an appointment outside regular hours if needed.
Is there a fee to use this?
There are no fees for simply visiting or consulting with the bank; however, loan applications and processing may involve origination and closing costs, which will be detailed during the application process.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local residents and businesses in Indiana, but they may consider applications from out-of-state businesses if they meet certain criteria and have a physical presence or operations in Indiana.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of around 680 is generally preferred for loan approval, though higher scores improve the chances of favorable terms.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and the complexity of your financial situation.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and The New Washington State Bank 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 The New Washington State Bank to confirm current weekend availability before you go.
How do I get there and where do I park?
The New Washington State Bank 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.
Who owns or operates this listing?
This page is an independent directory listing for The New Washington State Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by The New Washington State Bank itself, which runs its own lending under its own ownership. If you work at The New Washington State Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for The New Washington State Bank — 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 The New Washington State Bank before applying. If you represent The New Washington State Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach The New Washington State Bank by phone at (812) 293-3321 or online at newwashbank.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 The New Washington State Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, The New Washington State Bank 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 The New Washington State Bank 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 The New Washington State Bank participates in SBA Express depends on its specific SBA lending authority. Contact The New Washington State Bank 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. The New Washington State Bank 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. The New Washington State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask The New Washington State Bank 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 The New Washington State Bank 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 The New Washington State Bank 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 The New Washington State Bank 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. The New Washington State Bank weighs this case by case under its own policy, so be upfront about your history and ask The New Washington State Bank how it evaluates prior bankruptcies.
