States › Indiana › Henry County
County25th of 92 in Indiana by approvalsFIPS 18065
SBA loans in Henry County, Indiana
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 49 loans to businesses in Henry County, Indiana, in FY2021 to FY2025, worth $18.7M: 46 under 7(a) and 3 under 504.
That is 58.8 approvals per 1,000 business establishments (833 establishments in 2023), above the Indiana figure of 43.6 and above the national 41.0.
It ranks 25th of 92 Indiana counties with approvals. In FY2025 there were 15, up 25% on FY2024.
19 lenders had approvals here; the most active were Citizens State Bank of New Castle (10), STAR Financial Bank (7) and Flagship Enterprise Center, Inc. (dba Bankable) (5). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Henry County
By number of approvals to businesses in the county, FY2021–FY2025; 19 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Citizens State Bank of New CastleNew Castle, IN | 10 | $2.4M | 20.4% | |
| 2 | STAR Financial BankFort Wayne, IN | 7 | $395K | 14.3% | |
| 3 | Flagship Enterprise Center, Inc. (dba Bankable)Anderson, IN | 5 | $737K | 10.2% | |
| 4 | Merchants Bank of IndianaCarmel, IN | 3 | $1.5M | 6.1% | |
| 5 | First Merchants BankIndianapolis, IN | 3 | $150K | 6.1% | |
| 6 | Old National BankEvansville, IN | 2 | — | 4.1% | |
| 7 | 1st Source BankSouth Bend, IN | 2 | — | 4.1% | |
| 8 | MVB Bank, Inc.Fairmont, WV | 2 | — | 4.1% | |
| 9 | Newtek Bank, National AssociationMiami, FL | 2 | — | 4.1% | |
| 10 | Indiana Statewide Certified Development CorporationIndianapolis, IN · CDC | 2 | — | 4.1% | |
| 11 | PNC Bank, National AssociationWilmington, DE | 2 | — | 4.1% | |
| 12 | The Huntington National BankColumbus, OH | 2 | — | 4.1% | |
| 13 | Premier Capital CorporationIndianapolis, IN · CDC | 1 | — | 2.0% | |
| 14 | Bank Five NineOconomowoc, WI | 1 | — | 2.0% | |
| 15 | Millennium BankDes Plaines, IL | 1 | — | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 18.4% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 6 | 12.2% | |
| 3 | Other Personal ServicesNAICS 8129 | 3 | 6.1% | |
| 4 | Bakeries and Tortilla ManufacturingNAICS 3118 | 2 | 4.1% | |
| 5 | Offices of DentistsNAICS 6212 | 2 | 4.1% | |
| 6 | Death Care ServicesNAICS 8122 | 2 | 4.1% | |
| 7 | Printing and Related Support ActivitiesNAICS 3231 | 2 | 4.1% | |
| 8 | Furniture and Home Furnishings RetailersNAICS 4491 | 2 | 4.1% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 2 | 4.1% | |
| 10 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 2 | 4.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 9 | 18.4% | |
| 2 | Construction | 9 | 18.4% | |
| 3 | Manufacturing | 7 | 14.3% | |
| 4 | Retail Trade | 6 | 12.2% | |
| 5 | Other Services (except Public Administration) | 5 | 10.2% | |
| 6 | Health Care and Social Assistance | 3 | 6.1% | |
| 7 | Professional, Scientific, and Technical Services | 3 | 6.1% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 2 | 4.1% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 11 | $2.1M | $126K | 0 | — | 11 | 98 |
| FY2025 | 15 | $3.4M | $50K | 0 | — | 15 | 57 |
| FY2024 | 11 | $2.5M | $120K | 1 | — | 12 | 103 |
| FY2023 | 11 | $6.9M | $343K | 0 | — | 11 | 205 |
| FY2022 | 6 | $3.2M | $506K | 1 | — | 7 | 54 |
| FY2021 | 3 | $467K | $150K | 1 | — | 4 | 44 |
| FY2020 | 5 | $3.0M | $206K | 0 | — | 5 | 41 |
| FY2019 | 7 | $2.7M | $250K | 0 | — | 7 | 60 |
| FY2018 | 8 | $3.0M | $143K | 0 | — | 8 | 15 |
| FY2017 | 4 | $790K | $148K | 1 | — | 5 | 55 |
| FY2016 | 9 | $2.5M | $50K | 0 | — | 9 | 47 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 34 approvals.
Against Indiana and the country
| FY2021–FY2025 | Henry County | Indiana | United States |
|---|---|---|---|
| Approvals | 49 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 58.8 | 43.6 | 41.0 |
| Median 7(a) approval | $144K | $150K | $190K |
| Median 504 approval | $235K | $522K | $657K |
| Average approval | $381K | $500K | $573K |
| 504 share of approvals | 6.1% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 9.4 | 10.3 | 10.5 |
| Share of state approvals | 0.7% | 100.0% | — |
Approval sizes
- $50,000 or less28.6%14
- $50,001 to $150,00036.7%18
- $150,001 to $350,00012.2%6
- $350,001 to $1 million10.2%5
- $1 million to $2 million8.2%4
- Over $2 million4.1%2
Age of the businesses
- Existing, more than 2 years old57.1%28
- New business, 2 years or less18.4%9
- Startup, loan funds will open the business14.3%7
- Change of ownership10.2%5
Questions and answers
Which lenders make the most SBA loans in Henry County?
By approvals in FY2021 to FY2025: Citizens State Bank of New Castle (10), STAR Financial Bank (7), Flagship Enterprise Center, Inc. (dba Bankable) (5), Merchants Bank of Indiana (3), First Merchants Bank (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Henry County?
The median 7(a) approval was $144K and the median 504 approval $235K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in Henry County?
Restaurants and Other Eating Places (9); Other Specialty Trade Contractors (6); Other Personal Services (3); Bakeries and Tortilla Manufacturing (2); Offices of Dentists (2).
Is SBA lending in Henry County rising?
Approvals in the three latest complete fiscal years total 38, against 16 in the three before: rising (+138%).
How does Henry County compare with the rest of Indiana?
58.8 approvals per 1,000 establishments against 43.6 statewide, and 49 of the state's 6,784 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error