Wayne Bank and Trust Co

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.

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.

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.

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.

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.

A minimum personal credit score of 640 is generally required, though higher scores improve the chances of approval and favorable terms.

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

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

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

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

You can reach Wayne Bank and Trust Co by phone at (765) 935-5222 or online at waynebankonline.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 Wayne Bank and Trust Co before relying on them.

Based on its approved SBA loans, Wayne Bank and Trust Co most often finances businesses in restaurants & food service and manufacturing. This reflects Wayne Bank and Trust Co'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 and Trust Co 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 and Trust Co participates in SBA Express depends on its specific SBA lending authority. Contact Wayne Bank and Trust Co 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 and Trust Co can confirm its current PLP standing — ask before you apply if speed matters to you.

Wayne Bank and Trust Co offers SBA and Program Loans that cover business start-up costs; confirm current startup eligibility with the lender.

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