Wayne Bank
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Wayne Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 16 | $4.3M | $268K | 8.7% |
| 445320 | Other | 16 | $8.3M | $516K | 8.7% |
| 456199 | Other | 8 | $252K | $32K | 4.3% |
| 562991 | Septic Tank and Related Services | 8 | $2.9M | $365K | 4.3% |
| 722513 | Limited-Service Restaurants | 8 | $680K | $85K | 4.3% |
| 445298 | Other | 8 | $1.4M | $180K | 4.3% |
| 339950 | Sign Manufacturing | 8 | $3.7M | $468K | 4.3% |
| 424450 | Confectionery Merchant Wholesalers | 8 | $936K | $117K | 4.3% |
| 812112 | Beauty Salons | 8 | $1.2M | $150K | 4.3% |
| 722320 | Caterers | 8 | $5.5M | $683K | 4.3% |
Geographic Distribution
SBA lending activity for Wayne Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Pennsylvania (PA) | 160 | $92.0M | 87.0% |
| New York (NY) | 24 | $20.1M | 13.0% |
Why Choose Wayne Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 184 SBA loans approved, totaling $112.0M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Other, Other
- ✓Competitive Terms: Average interest rate of 8.68% with flexible term lengths averaging 142 months
- ✓Loan Range: Loan sizes from $32K to $4.5M, with an average of $609K
- ✓Nationwide Reach: Active lending in 2 states, with strong presence in PA, NY
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Wayne Bank SBA lending
What types of businesses does Wayne Bank typically finance?
Wayne Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, other, other, septic tank and related services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Wayne Bank's typical SBA loan terms?
Wayne Bank's SBA 7(a) loans typically feature an average interest rate of 8.68% and average term length of 142 months (approximately 12 years). Loan sizes range from $32K to $4.5M, with an average loan size of $609K.
Do I need a business valuation for a Wayne Bank SBA loan?
Yes, Wayne Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Wayne Bank compare to other SBA lenders?
Wayne Bank has originated 184 SBA loans totaling $112.0M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Wayne Bank lend in?
Wayne Bank provides SBA 7(a) financing with particularly strong presence in PA, NY. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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