Intrust Bank started in 1876 and is headquartered in Wichita, Kansas. Intrust Bank focuses on providing excellent customer assistance, high-quality products, and personal and business financial services. In addition to small business loans, the company also offers lines of credit, term loans, and real estate. The bank is a member of the FDIC. Customers can come to this company for small business loan services, and funding up to $5 million.
- Clear application process
- Small business loans
Clear Application Process
To apply, people must first tell Intrust Bank about themselves, and then describe their loan request and business's current finances. Intrust Bank will verify the client's information, and review authorizations. From there, clients can submit the simple and quick online application, and will then be contacted by an Intrust Bank representative by phone within 24 hours.
Small Business Loan Services
Intrust Bank offers services to businesses of all sizes and provides customized credit solutions. The company offers two main kinds of small business loan programs, including the SBA 7, and SBA 504.
The SBA 7 loan programs consist of PLP, Express, Export Express, CapLines, The Export Working Capital, and International Trade programs.
For the SBA 7, clients can borrow up to $5 million and can choose terms of seven to ten years. The company boasts flexible repayment terms with competitive rates and payments.
The SBA 504 program is geared toward business real estate, construction renovation, or equipment purchases. The program offers 10- and 20-year repayment plans with fixed rates. The down payment is also as low as 10 percent, and the owner occupancy rate is as low as 51 percent.
The website explains Intrust Bank also offers lines of credit, and term loans for small businesses. Term loans can be used for any business purpose, and have flexible repayment terms with budgeted loan payments. Lines of credit are seasonal and for fluctuating business cash needs. This plan offers revolving and non-revolving options, and interest-only monthly payments based on the variable interest rate.
- Lacking information
- Unclear eligibility terms
- Limited availability
Website Lacks Program Information
Since credit solutions are tailored to each client's business, loan specifications like terms, rates, and fees depend on each business's unique situation. The website does not provide much specific information for Intrust Bank's small business loans; that means there is no interest rate, or fee information provided online. Prepayment, origination, and late fees are not at all explained. Typically, top companies in the industry are transparent about their programs, and will at least list their APR upfront.
Additionally, the website does not provide the estimated time it takes clients to get approved, or how long it typically takes the company to deposit funds into client bank accounts.
Unclear Eligibility Terms
Eligibility requirements are not laid out and are unclear. The website only lists the following basic requirements:
Each applicant must be:
- A U.S. citizen
- A resident of one of the available states
- An Intrust Bank customer
It is unknown whether or not the company has a minimum credit score requirement, minimum business time in operation, or annual revenue requirement.
Limited State Availability
Intrust Bank deeply lacks availability and only provides small business loans to three states. The company services the following cities: Wichita, El Dorado, Kansas City, Oklahoma City, Manhattan, Lawrence, Topeka, Junction City, and northwestern Arkansas.
The Bottom Line
Intrust Bank is a top financial provider in the Midwest and offers small business loans. The company has been in operation since 1876, and is a member of the FDIC. Clients can borrow up to $5 million and repayment terms are flexible.
However, Intrust Bank's website lacks key information and does not explain interest rates, or eligibility requirements. Additionally, fees are not laid out. When looking into small business loan options, we recommend exploring more transparent companies.