Wayne Bank

This is a local bank offering SBA loan programs and financial services tailored to small businesses in the Honesdale area. You can find assistance with business financing, loans, and community support to help grow your enterprise. The bank provides personalized guidance throughout the loan application process to ensure your business needs are met effectively.

It is recommended to schedule an appointment to meet with a lending specialist, but walk-in consultations may also be available during business hours. Calling ahead ensures you receive dedicated time and proper assistance for your financing needs.

The bank operates during regular business hours, typically from 9 am to 5 pm, Monday through Friday. It is advisable to check with the branch directly for specific hours or to arrange an appointment outside standard times.

There are no fees for accessing basic banking services, but loan applications and processing may involve standard fees such as application or closing costs. These fees are disclosed upfront during the loan consultation process.

This bank primarily serves residents and small business owners within the regional community, particularly those in northeastern Pennsylvania. Non-residents may need to meet specific criteria or have existing ties to the area to qualify for certain services.

Typically, a minimum personal credit score of around 640 is preferred, though higher scores may improve loan approval chances. The bank considers overall creditworthiness and financial stability when evaluating guarantors.

The underwriting process generally takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application. Early preparation and thorough documentation can help expedite the approval timeline.

Most banks keep weekday business hours and are closed on weekends, and Wayne 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 Wayne Bank to confirm current weekend availability before you go.

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

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

You can reach Wayne Bank by phone at (570) 253-8500 or online at wayne.bank — 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 Wayne Bank before relying on them.

Based on its approved SBA loans, Wayne Bank most often finances businesses in hotels & lodging, restaurants & food service, manufacturing, general retail, and food manufacturing & processing. This reflects Wayne Bank'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 Wayne Bank 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 Wayne Bank participates in SBA Express depends on its specific SBA lending authority. Contact Wayne Bank 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. Wayne Bank 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. Wayne Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Wayne Bank 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 Wayne Bank 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 Wayne Bank 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 Wayne Bank 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. Wayne Bank weighs this case by case under its own policy, so be upfront about your history and ask Wayne Bank how it evaluates prior bankruptcies.