Indiana SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in Indiana
Since FY2020, 248 lenders have funded 7,657 SBA loans worth $3.9B for businesses in Indiana. Borrowers reported 78,198 jobs supported by those loans. Below is who actually writes them, how big they run, and which Indiana businesses get funded.
Most active SBA lenders in Indiana
Ranked by loans funded for Indiana projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in Indiana beats a local name that rarely writes SBA loans.
| Lender | Program | IN loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| The Huntington National Bank | 7(a) | 1,654 | 295 | $66K | 9% |
| 1st Source Bank | 7(a) | 527 | 101 | $81K | 8% |
| Centier Bank | 7(a) | 314 | 63 | $132K | 7.25% |
| Indiana Statewide Certified Development Corporation | 504 (CDC) | 280 | 78 | $610K | n/a |
| Premier Capital Corporation | 504 (CDC) | 211 | 46 | $535K | n/a |
| KeyBank National Association | 7(a) | 196 | 40 | $290K | 8.41% |
| Old National Bank | 7(a) | 186 | 46 | $438K | 7.25% |
| First Merchants Bank | 7(a) | 172 | 70 | $50K | 11.25% |
| Live Oak Banking Company | 7(a) | 150 | 37 | $842K | 7.67% |
| STAR Financial Bank | 7(a) | 144 | 40 | $100K | 8% |
| Citizens State Bank of New Castle | 7(a) | 138 | 36 | $150K | 8.75% |
| Regional Development Company | 504 (CDC) | 137 | 28 | $412K | n/a |
| Merchants Bank of Indiana | 7(a) | 131 | 24 | $500K | 8.5% |
| JPMorgan Chase Bank, National Association | 7(a) | 117 | 24 | $150K | 10.9% |
| Business Development Corporation (BDC) | 504 (CDC) | 100 | 21 | $451K | n/a |
| Readycap Lending, LLC | 7(a) | 99 | 45 | $50K | 13.25% |
| U.S. Bank, National Association | 7(a) | 97 | 28 | $32K | 8.74% |
| United Midwest Savings Bank National Association | 7(a) | 96 | 35 | $150K | 9.5% |
| Stock Yards Bank & Trust Company | 7(a) | 96 | 24 | $305K | 6.17% |
| BayFirst National Bank | 7(a) | 94 | 21 | $150K | 12.62% |
| Horizon Bank | 7(a) | 93 | 28 | $150K | 8.5% |
| Flagship Enterprise Center, Inc. (dba Bankable) | 7(a) | 89 | 29 | $150K | 10.75% |
| First Financial Bank | 7(a) | 88 | 11 | $282K | 5.38% |
| German American Bank | 7(a) | 88 | 4 | $200K | 5% |
| PNC Bank, National Association | 7(a) | 87 | 20 | $50K | 10.5% |
504 loans are written by Certified Development Companies alongside a bank first mortgage. The 504 file reports no interest rate, so CDC rows show none.
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Start your funding profile →How big Indiana SBA loans run
Share of Indiana 7(a) loans by approval size, next to the national split. If your ask sits in a common band, it is the kind of loan lenders here fund every week.
| 7(a) loan size | IN | US |
|---|---|---|
| Under $150K | 45% | 40.4% |
| $150K to $500K | 31.5% | 31.9% |
| $500K to $1M | 11% | 12.9% |
| $1M and up | 12.4% | 14.9% |
Who gets funded in Indiana
Business age on Indiana 7(a) loans. 13.2% funded a change of ownership, against 11.1% nationally. Buying a business? See the acquisition lender shortlist. Starting one? See startup-friendly lenders.
| Business stage | IN | US |
|---|---|---|
| Established, more than 2 years | 51.6% | 55.2% |
| New, 2 years or less | 14.7% | 16.9% |
| Startup, loan opens the business | 20.5% | 16.8% |
| Change of ownership (buying a business) | 13.2% | 11.1% |
Industries Indiana SBA lenders fund most
Share of all Indiana SBA loans by industry, and how that compares with the national mix.
| Industry | IN loans | Share | Compared with US |
|---|---|---|---|
| Restaurants and hotels | 1,094 | 14.3% | in line with national |
| Construction | 913 | 11.9% | in line with national |
| Personal and repair services | 782 | 10.2% | in line with national |
| Retail | 756 | 9.9% | 0.8x the national share |
| Transportation and trucking | 734 | 9.6% | 1.8x the national share |
| Manufacturing | 651 | 8.5% | 1.3x the national share |
| Healthcare | 622 | 8.1% | 0.8x the national share |
| Professional services | 577 | 7.5% | 0.8x the national share |
The most common specific business types funded in Indiana: general freight trucking, long-distance, truckload (394), full-service restaurants (346), limited-service restaurants (319), hotels (except casino hotels) and motels (204), general freight trucking, local (194), fitness and recreational sports centers (160).
Where in Indiana the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Marion | 1,552 | 20% |
| Hamilton | 879 | 11% |
| Lake | 498 | 7% |
| Allen | 458 | 6% |
| Johnson | 310 | 4% |
| Hendricks | 309 | 4% |
| St Joseph | 304 | 4% |
| Porter | 218 | 3% |
7(a) or 504 in Indiana
11% of Indiana SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $515K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in Indiana:
- Indiana Statewide Certified Development Corporation: 280 504 loans, median $610K
- Premier Capital Corporation: 211 504 loans, median $535K
- Regional Development Company: 137 504 loans, median $412K
- Business Development Corporation (BDC): 100 504 loans, median $451K
- Community Development Corporation of Fort Wayne: 76 504 loans, median $361K
Indiana SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 815 | 136 | $490M |
| FY2021 | 1,035 | 156 | $658M |
| FY2022 | 1,003 | 176 | $576M |
| FY2023 | 1,075 | 87 | $510M |
| FY2024 | 1,222 | 100 | $648M |
| FY2025 | 1,042 | 126 | $619M |
| FY2026 (through June 30, 2026) | 605 | 79 | $432M |
The SBA fiscal year runs October through September.
Free SBA help in Indiana
Before you apply, these offices help with loan packaging and lender questions at no cost.
- SBA Indiana District Office. 5726 Professional Cir., Suite 100, Indianapolis, IN 46241. Phone 317-226-7272. The SBA office for Indiana: lender lists, program questions and local events.
- Indiana Small Business Development Center (ISBDC). No-cost, confidential advising through regional offices across the state, housed within the Indiana Economic Development Corporation. Useful for loan packaging, projections and cash-flow prep before you apply.
- SCORE Indiana. Free mentoring through four chapters: Indianapolis, Northeast Indiana, Northwest Central Indiana and Southern Indiana.
Contact details verified October 24, 2026.
Common questions
Who is the most active SBA lender in Indiana?
By funded loans since FY2020, The Huntington National Bank leads Indiana with 1,654 loans.
How big is a typical SBA loan in Indiana?
The median 7(a) loan in Indiana is $150K, and the middle half runs from $50K to $458K. The median 504 loan is $515K. Nationally the 7(a) median is $200K.
What interest rate do Indiana SBA borrowers get?
The median starting rate on Indiana 7(a) loans since FY2020 is 8.5%, against 9.25% nationally. 84% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in Indiana?
Yes. 35% of Indiana 7(a) loans with a reported business age went to startups or businesses two years old or younger, against 34% nationally. Lenders still expect a solid plan, owner equity and usually collateral.
Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records, FY2020 through June 30, 2026, for projects located in Indiana. Cancelled approvals are excluded. Jobs supported are as reported by borrowers. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.