States › Indiana › Shelby County
County28th of 92 in Indiana by approvalsFIPS 18145
SBA loans in Shelby 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 Shelby County, Indiana, received 44 SBA loan approvals worth $18.8M in FY2021 to FY2025 (42 7(a), 2 504).
That is 46.3 approvals per 1,000 business establishments (951 establishments in 2023), close to the Indiana figure of 43.6 and close to the national 41.0.
It ranks 28th of 92 Indiana counties with approvals. In FY2025 there were 11, down 15% on FY2024.
22 lenders had approvals here; the most active were The Huntington National Bank (9), First Internet Bank of Indiana (4) and KeyBank National Association (4). The most common industry was building equipment contractors.
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 Shelby County
By number of approvals to businesses in the county, FY2021–FY2025; 22 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 9 | $734K | 20.5% | |
| 2 | First Internet Bank of IndianaFishers, IN | 4 | $3.9M | 9.1% | |
| 3 | KeyBank National AssociationCleveland, OH | 4 | $378K | 9.1% | |
| 4 | PNC Bank, National AssociationWilmington, DE | 4 | $130K | 9.1% | |
| 5 | Old National BankEvansville, IN | 2 | — | 4.5% | |
| 6 | Indiana Statewide Certified Development CorporationIndianapolis, IN · CDC | 2 | — | 4.5% | |
| 7 | JPMorgan Chase Bank, National AssociationColumbus, OH | 2 | — | 4.5% | |
| 8 | Horizon BankMichigan City, IN | 2 | — | 4.5% | |
| 9 | Celtic Bank CorporationSalt Lake City, UT | 2 | — | 4.5% | |
| 10 | GBankLas Vegas, NV | 1 | — | 2.3% | |
| 11 | CentreBankVeedersburg, IN | 1 | — | 2.3% | |
| 12 | Stearns Bank National AssociationSaint Cloud, MN | 1 | — | 2.3% | |
| 13 | First Bank RichmondRichmond, IN | 1 | — | 2.3% | |
| 14 | Pathward National AssociationSioux Falls, SD | 1 | — | 2.3% | |
| 15 | STAR Financial BankFort Wayne, IN | 1 | — | 2.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 3 | 6.8% | |
| 2 | Plastics Product ManufacturingNAICS 3261 | 3 | 6.8% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 6.8% | |
| 4 | Automotive Parts, Accessories, and Tire StoresNAICS 4413 | 3 | 6.8% | |
| 5 | Household and Institutional Furniture and Kitchen Cabinet ManufacturingNAICS 3371 | 2 | 4.5% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 4.5% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 4.5% | |
| 8 | Offices of PhysiciansNAICS 6211 | 2 | 4.5% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 4.5% | |
| 10 | Nonresidential Building ConstructionNAICS 2362 | 2 | 4.5% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 10 | 22.7% | |
| 2 | Other Services (except Public Administration) | 7 | 15.9% | |
| 3 | Manufacturing | 5 | 11.4% | |
| 4 | Accommodation and Food Services | 4 | 9.1% | |
| 5 | Arts, Entertainment, and Recreation | 3 | 6.8% | |
| 6 | Health Care and Social Assistance | 3 | 6.8% | |
| 7 | Retail Trade | 3 | 6.8% | |
| 8 | Professional, Scientific, and Technical Services | 3 | 6.8% |
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* | 2 | — | — | 0 | — | 2 | 8 |
| FY2025 | 11 | $8.9M | $150K | 0 | — | 11 | 79 |
| FY2024 | 13 | $1.9M | $150K | 0 | — | 13 | 50 |
| FY2023 | 3 | $1.3M | $150K | 0 | — | 3 | 14 |
| FY2022 | 6 | $2.4M | $111K | 1 | — | 7 | 23 |
| FY2021 | 9 | $3.4M | $150K | 1 | — | 10 | 89 |
| FY2020 | 7 | $3.2M | $96K | 1 | — | 8 | 12 |
| FY2019 | 6 | $470K | $58K | 0 | — | 6 | 59 |
| FY2018 | 4 | $1.2M | $113K | 0 | — | 4 | 17 |
| FY2017 | 9 | $5.0M | $150K | 0 | — | 9 | 85 |
| FY2016 | 5 | $2.2M | $343K | 0 | — | 5 | 24 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 32 approvals.
Against Indiana and the country
| FY2021–FY2025 | Shelby County | Indiana | United States |
|---|---|---|---|
| Approvals | 44 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 46.3 | 43.6 | 41.0 |
| Median 7(a) approval | $150K | $150K | $190K |
| Median 504 approval | — | $522K | $657K |
| Average approval | $428K | $500K | $573K |
| 504 share of approvals | 4.5% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 5.8 | 10.3 | 10.5 |
| Share of state approvals | 0.6% | 100.0% | — |
Approval sizes
- $50,000 or less31.8%14
- $50,001 to $150,00029.5%13
- $150,001 to $350,0009.1%4
- $350,001 to $1 million15.9%7
- $1 million to $2 million9.1%4
- Over $2 million4.5%2
Age of the businesses
- Existing, more than 2 years old56.8%25
- New business, 2 years or less11.4%5
- Startup, loan funds will open the business13.6%6
- Change of ownership18.2%8
Questions and answers
Which lenders make the most SBA loans in Shelby County?
By approvals in FY2021 to FY2025: The Huntington National Bank (9), First Internet Bank of Indiana (4), KeyBank National Association (4), PNC Bank, National Association (4), Old National Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Shelby County?
The median 7(a) approval was $150K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in Shelby County?
Building Equipment Contractors (3); Plastics Product Manufacturing (3); Restaurants and Other Eating Places (3); Automotive Parts, Accessories, and Tire Stores (3); Household and Institutional Furniture and Kitchen Cabinet Manufacturing (2).
Is SBA lending in Shelby County rising?
Approvals in the three latest complete fiscal years total 27, against 25 in the three before: broadly level (+8%).
How does Shelby County compare with the rest of Indiana?
46.3 approvals per 1,000 establishments against 43.6 statewide, and 44 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