States › Indiana › Morgan County
County24th of 92 in Indiana by approvalsFIPS 18109
SBA loans in Morgan 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 52 loans to businesses in Morgan County, Indiana, in FY2021 to FY2025, worth $14.5M: 48 under 7(a) and 4 under 504.
That is 41.7 approvals per 1,000 business establishments (1,248 establishments in 2023), close to the Indiana figure of 43.6 and close to the national 41.0.
It ranks 24th of 92 Indiana counties with approvals. In FY2025 there were 17, up 70% on FY2024.
20 lenders had approvals here; the most active were The Huntington National Bank (11), First Merchants Bank (6) and KeyBank National Association (5). The most common industry was offices of other health practitioners.
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 Morgan County
By number of approvals to businesses in the county, FY2021–FY2025; 20 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 11 | $1.4M | 21.2% | |
| 2 | First Merchants BankIndianapolis, IN | 6 | $400K | 11.5% | |
| 3 | KeyBank National AssociationCleveland, OH | 5 | $1.6M | 9.6% | |
| 4 | Premier Capital CorporationIndianapolis, IN · CDC | 4 | $3.2M | 7.7% | |
| 5 | Old National BankEvansville, IN | 4 | $876K | 7.7% | |
| 6 | Celtic Bank CorporationSalt Lake City, UT | 2 | — | 3.8% | |
| 7 | First Internet Bank of IndianaFishers, IN | 2 | — | 3.8% | |
| 8 | Live Oak Banking CompanyWilmington, NC | 2 | — | 3.8% | |
| 9 | JPMorgan Chase Bank, National AssociationColumbus, OH | 2 | — | 3.8% | |
| 10 | Newtek Bank, National AssociationMiami, FL | 2 | — | 3.8% | |
| 11 | Citizens BankMooresville, IN | 2 | — | 3.8% | |
| 12 | Northeast BankLewiston, ME | 2 | — | 3.8% | |
| 13 | Happen BankLehi, UT | 1 | — | 1.9% | |
| 14 | Shoreham BankWarwick, RI | 1 | — | 1.9% | |
| 15 | Lake City BankWarsaw, IN | 1 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Offices of Other Health PractitionersNAICS 6213 | 5 | 9.6% | |
| 2 | Gasoline StationsNAICS 4471 | 3 | 5.8% | |
| 3 | Beverage ManufacturingNAICS 3121 | 3 | 5.8% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 5.8% | |
| 5 | Shoe StoresNAICS 4482 | 3 | 5.8% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 3.8% | |
| 7 | Support Activities for ForestryNAICS 1153 | 2 | 3.8% | |
| 8 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 2 | 3.8% | |
| 9 | Building Finishing ContractorsNAICS 2383 | 2 | 3.8% | |
| 10 | Investigation and Security ServicesNAICS 5616 | 2 | 3.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 11 | 21.2% | |
| 2 | Other Services (except Public Administration) | 5 | 9.6% | |
| 3 | Accommodation and Food Services | 5 | 9.6% | |
| 4 | Health Care and Social Assistance | 5 | 9.6% | |
| 5 | Construction | 5 | 9.6% | |
| 6 | Manufacturing | 4 | 7.7% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 4 | 7.7% | |
| 8 | Professional, Scientific, and Technical Services | 4 | 7.7% |
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* | 9 | $2.6M | $150K | 1 | — | 10 | 120 |
| FY2025 | 16 | $3.4M | $100K | 1 | — | 17 | 273 |
| FY2024 | 9 | $1.7M | $150K | 1 | — | 10 | 80 |
| FY2023 | 5 | $3.0M | $382K | 0 | — | 5 | 18 |
| FY2022 | 11 | $1.3M | $75K | 2 | — | 13 | 60 |
| FY2021 | 7 | $1.9M | $189K | 0 | — | 7 | 19 |
| FY2020 | 8 | $6.2M | $203K | 1 | — | 9 | 31 |
| FY2019 | 11 | $7.6M | $200K | 0 | — | 11 | 287 |
| FY2018 | 7 | $617K | $100K | 1 | — | 8 | 64 |
| FY2017 | 16 | $2.6M | $41K | 2 | — | 18 | 114 |
| FY2016 | 15 | $2.7M | $77K | 1 | — | 16 | 68 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 62 approvals.
Against Indiana and the country
| FY2021–FY2025 | Morgan County | Indiana | United States |
|---|---|---|---|
| Approvals | 52 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 41.7 | 43.6 | 41.0 |
| Median 7(a) approval | $125K | $150K | $190K |
| Median 504 approval | $436K | $522K | $657K |
| Average approval | $278K | $500K | $573K |
| 504 share of approvals | 7.7% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 8.7 | 10.3 | 10.5 |
| Share of state approvals | 0.8% | 100.0% | — |
Approval sizes
- $50,000 or less28.8%15
- $50,001 to $150,00025.0%13
- $150,001 to $350,00023.1%12
- $350,001 to $1 million17.3%9
- $1 million to $2 million5.8%3
Age of the businesses
- Existing, more than 2 years old61.5%32
- New business, 2 years or less11.5%6
- Startup, loan funds will open the business13.5%7
- Change of ownership13.5%7
Questions and answers
Which lenders make the most SBA loans in Morgan County?
By approvals in FY2021 to FY2025: The Huntington National Bank (11), First Merchants Bank (6), KeyBank National Association (5), Premier Capital Corporation (4), Old National Bank (4). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Morgan County?
The median 7(a) approval was $125K and the median 504 approval $436K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in Morgan County?
Offices of Other Health Practitioners (5); Gasoline Stations (3); Beverage Manufacturing (3); Restaurants and Other Eating Places (3); Shoe Stores (3).
Is SBA lending in Morgan County rising?
Approvals in the three latest complete fiscal years total 32, against 29 in the three before: rising (+10%).
How does Morgan County compare with the rest of Indiana?
41.7 approvals per 1,000 establishments against 43.6 statewide, and 52 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