States › Indiana › Lake County
County3rd of 92 in Indiana by approvalsFIPS 18089
SBA loans in Lake 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.
Businesses in Lake County, Indiana, received 473 SBA loan approvals worth $249M in FY2021 to FY2025 (392 7(a), 81 504).
That is 44.8 approvals per 1,000 business establishments (10,566 establishments in 2023), close to the Indiana figure of 43.6 and close to the national 41.0.
It ranks 3rd of 92 Indiana counties with approvals. In FY2025 there were 101, up 12% on FY2024.
68 lenders had approvals here; the most active were Centier Bank (90), Regional Development Company (59) and The Huntington National Bank (53). 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 Lake County
By number of approvals to businesses in the county, FY2021–FY2025; 68 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Centier BankWhiting, IN | 90 | $15.6M | 19.0% | |
| 2 | Regional Development CompanyValparaiso, IN · CDC | 59 | $38.1M | 12.5% | |
| 3 | The Huntington National BankColumbus, OH | 53 | $11.3M | 11.2% | |
| 4 | Horizon BankMichigan City, IN | 23 | $7.9M | 4.9% | |
| 5 | Peoples BankMunster, IN | 19 | $3.0M | 4.0% | |
| 6 | 1st Source BankSouth Bend, IN | 16 | $3.7M | 3.4% | |
| 7 | Small Business Growth CorporationSpringfield, IL · CDC | 13 | $10.5M | 2.7% | |
| 8 | U.S. Bank, National AssociationCincinnati, OH | 13 | $1.6M | 2.7% | |
| 9 | Northeast BankLewiston, ME | 12 | $1.5M | 2.5% | |
| 10 | American Community Bank of IndianaMunster, IN | 11 | $3.9M | 2.3% | |
| 11 | Newtek Bank, National AssociationMiami, FL | 10 | $8.5M | 2.1% | |
| 12 | Readycap Lending, LLCBerkeley Heights, NJ | 10 | $2.7M | 2.1% | |
| 13 | JPMorgan Chase Bank, National AssociationColumbus, OH | 8 | $2.3M | 1.7% | |
| 14 | Byline BankChicago, IL | 7 | $8.3M | 1.5% | |
| 15 | BayFirst National BankSaint Petersburg, FL | 7 | $727K | 1.5% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 70 | 14.8% | |
| 2 | Personal Care ServicesNAICS 8121 | 24 | 5.1% | |
| 3 | General Freight TruckingNAICS 4841 | 21 | 4.4% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 20 | 4.2% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 18 | 3.8% | |
| 6 | Traveler AccommodationNAICS 7211 | 17 | 3.6% | |
| 7 | Bakeries and Tortilla ManufacturingNAICS 3118 | 13 | 2.7% | |
| 8 | Services to Buildings and DwellingsNAICS 5617 | 13 | 2.7% | |
| 9 | Child Day Care ServicesNAICS 6244 | 12 | 2.5% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 11 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 95 | 20.1% | |
| 2 | Manufacturing | 55 | 11.6% | |
| 3 | Health Care and Social Assistance | 51 | 10.8% | |
| 4 | Other Services (except Public Administration) | 51 | 10.8% | |
| 5 | Retail Trade | 41 | 8.7% | |
| 6 | Transportation and Warehousing | 34 | 7.2% | |
| 7 | Professional, Scientific, and Technical Services | 33 | 7.0% | |
| 8 | Construction | 33 | 7.0% |
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* | 42 | $13.5M | $108K | 7 | $9.3M | 49 | 503 |
| FY2025 | 87 | $45.1M | $150K | 14 | $13.5M | 101 | 610 |
| FY2024 | 78 | $37.8M | $150K | 12 | $9.2M | 90 | 767 |
| FY2023 | 83 | $26.3M | $125K | 7 | $3.7M | 90 | 972 |
| FY2022 | 59 | $36.1M | $250K | 22 | $20.2M | 81 | 1,058 |
| FY2021 | 85 | $47.7M | $221K | 26 | $9.3M | 111 | 1,468 |
| FY2020 | 39 | $19.4M | $150K | 22 | $12.2M | 61 | 636 |
| FY2019 | 51 | $28.6M | $150K | 20 | $12.3M | 71 | 748 |
| FY2018 | 61 | $27.3M | $150K | 15 | $6.0M | 76 | 712 |
| FY2017 | 61 | $22.5M | $96K | 16 | $5.3M | 77 | 899 |
| FY2016 | 83 | $19.7M | $80K | 23 | $10.4M | 106 | 966 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 391 approvals.
Against Indiana and the country
| FY2021–FY2025 | Lake County | Indiana | United States |
|---|---|---|---|
| Approvals | 473 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 44.8 | 43.6 | 41.0 |
| Median 7(a) approval | $170K | $150K | $190K |
| Median 504 approval | $518K | $522K | $657K |
| Average approval | $526K | $500K | $573K |
| 504 share of approvals | 17.1% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 10.3 | 10.3 | 10.5 |
| Share of state approvals | 7.0% | 100.0% | — |
Approval sizes
- $50,000 or less20.1%95
- $50,001 to $150,00021.4%101
- $150,001 to $350,00023.7%112
- $350,001 to $1 million22.6%107
- $1 million to $2 million6.1%29
- Over $2 million6.1%29
Age of the businesses
- Existing, more than 2 years old52.9%250
- New business, 2 years or less12.7%60
- Startup, loan funds will open the business25.2%119
- Change of ownership9.1%43
- Not answered0.2%1
Questions and answers
Which lenders make the most SBA loans in Lake County?
By approvals in FY2021 to FY2025: Centier Bank (90), Regional Development Company (59), The Huntington National Bank (53), Horizon Bank (23), Peoples Bank (19). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Lake County?
The median 7(a) approval was $170K and the median 504 approval $518K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in Lake County?
Restaurants and Other Eating Places (70); Personal Care Services (24); General Freight Trucking (21); Offices of Other Health Practitioners (20); Other Amusement and Recreation Industries (18).
Is SBA lending in Lake County rising?
Approvals in the three latest complete fiscal years total 281, against 253 in the three before: rising (+11%).
How does Lake County compare with the rest of Indiana?
44.8 approvals per 1,000 establishments against 43.6 statewide, and 473 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