States › Indiana › St. Joseph County
County6th of 92 in Indiana by approvalsFIPS 18141
SBA loans in St. Joseph 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 St. Joseph County, Indiana, received 278 SBA loan approvals worth $136M in FY2021 to FY2025 (250 7(a), 28 504).
That is 46.7 approvals per 1,000 business establishments (5,959 establishments in 2023), close to the Indiana figure of 43.6 and close to the national 41.0.
It ranks 6th of 92 Indiana counties with approvals. In FY2025 there were 43, down 14% on FY2024.
44 lenders had approvals here; the most active were 1st Source Bank (89), Centier Bank (30) and Business Development Corporation (BDC) (24). The most common industry was personal care services.
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 St. Joseph County
By number of approvals to businesses in the county, FY2021–FY2025; 44 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | 1st Source BankSouth Bend, IN | 89 | $19.1M | 32.0% | |
| 2 | Centier BankWhiting, IN | 30 | $9.7M | 10.8% | |
| 3 | Business Development Corporation (BDC)South Bend, IN · CDC | 24 | $14.8M | 8.6% | |
| 4 | The Huntington National BankColumbus, OH | 24 | $10.8M | 8.6% | |
| 5 | KeyBank National AssociationCleveland, OH | 12 | $3.6M | 4.3% | |
| 6 | Everwise Credit UnionSouth Bend, IN | 9 | $2.5M | 3.2% | |
| 7 | Horizon BankMichigan City, IN | 8 | $1.3M | 2.9% | |
| 8 | Old National BankEvansville, IN | 7 | $9.3M | 2.5% | |
| 9 | Inova Federal Credit UnionElkhart, IN | 6 | $2.6M | 2.2% | |
| 10 | Millennium BankDes Plaines, IL | 5 | $10.6M | 1.8% | |
| 11 | Live Oak Banking CompanyWilmington, NC | 5 | $3.2M | 1.8% | |
| 12 | Lake City BankWarsaw, IN | 5 | $1.0M | 1.8% | |
| 13 | Celtic Bank CorporationSalt Lake City, UT | 4 | $5.3M | 1.4% | |
| 14 | Merchants Bank of IndianaCarmel, IN | 4 | $2.0M | 1.4% | |
| 15 | United Midwest Savings Bank National AssociationDe Graff, OH | 4 | $600K | 1.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Personal Care ServicesNAICS 8121 | 20 | 7.2% | |
| 2 | General Freight TruckingNAICS 4841 | 19 | 6.8% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 14 | 5.0% | |
| 4 | Traveler AccommodationNAICS 7211 | 12 | 4.3% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 12 | 4.3% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 12 | 4.3% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 9 | 3.2% | |
| 8 | Services to Buildings and DwellingsNAICS 5617 | 8 | 2.9% | |
| 9 | Building Finishing ContractorsNAICS 2383 | 6 | 2.2% | |
| 10 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 6 | 2.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 44 | 15.8% | |
| 2 | Accommodation and Food Services | 31 | 11.2% | |
| 3 | Manufacturing | 31 | 11.2% | |
| 4 | Health Care and Social Assistance | 28 | 10.1% | |
| 5 | Construction | 28 | 10.1% | |
| 6 | Retail Trade | 26 | 9.4% | |
| 7 | Transportation and Warehousing | 25 | 9.0% | |
| 8 | Professional, Scientific, and Technical Services | 19 | 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* | 15 | $13.0M | $275K | 5 | $3.1M | 20 | 260 |
| FY2025 | 40 | $21.4M | $183K | 3 | $1.3M | 43 | 298 |
| FY2024 | 46 | $25.1M | $100K | 4 | $3.4M | 50 | 490 |
| FY2023 | 52 | $16.3M | $147K | 2 | — | 54 | 534 |
| FY2022 | 61 | $25.6M | $107K | 4 | $3.7M | 65 | 453 |
| FY2021 | 51 | $28.9M | $150K | 15 | $8.7M | 66 | 674 |
| FY2020 | 32 | $15.4M | $59K | 6 | $3.8M | 38 | 317 |
| FY2019 | 57 | $12.1M | $57K | 7 | $3.7M | 64 | 667 |
| FY2018 | 61 | $37.6M | $125K | 7 | $4.3M | 68 | 725 |
| FY2017 | 60 | $23.6M | $115K | 13 | $5.1M | 73 | 695 |
| FY2016 | 59 | $10.4M | $50K | 7 | $1.8M | 66 | 511 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 309 approvals.
Against Indiana and the country
| FY2021–FY2025 | St. Joseph County | Indiana | United States |
|---|---|---|---|
| Approvals | 278 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 46.7 | 43.6 | 41.0 |
| Median 7(a) approval | $144K | $150K | $190K |
| Median 504 approval | $543K | $522K | $657K |
| Average approval | $489K | $500K | $573K |
| 504 share of approvals | 10.1% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 8.8 | 10.3 | 10.5 |
| Share of state approvals | 4.1% | 100.0% | — |
Approval sizes
- $50,000 or less24.5%68
- $50,001 to $150,00027.3%76
- $150,001 to $350,00019.4%54
- $350,001 to $1 million15.5%43
- $1 million to $2 million7.6%21
- Over $2 million5.8%16
Age of the businesses
- Existing, more than 2 years old46.4%129
- New business, 2 years or less18.3%51
- Startup, loan funds will open the business29.9%83
- Change of ownership5.4%15
Questions and answers
Which lenders make the most SBA loans in St. Joseph County?
By approvals in FY2021 to FY2025: 1st Source Bank (89), Centier Bank (30), Business Development Corporation (BDC) (24), The Huntington National Bank (24), KeyBank National Association (12). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in St. Joseph County?
The median 7(a) approval was $144K and the median 504 approval $543K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in St. Joseph County?
Personal Care Services (20); General Freight Trucking (19); Restaurants and Other Eating Places (14); Traveler Accommodation (12); Automotive Repair and Maintenance (12).
Is SBA lending in St. Joseph County rising?
Approvals in the three latest complete fiscal years total 147, against 169 in the three before: falling (-13%).
How does St. Joseph County compare with the rest of Indiana?
46.7 approvals per 1,000 establishments against 43.6 statewide, and 278 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