States › Indiana › Vanderburgh County
County8th of 92 in Indiana by approvalsFIPS 18163
SBA loans in Vanderburgh 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 187 loans to businesses in Vanderburgh County, Indiana, in FY2021 to FY2025, worth $113M: 165 under 7(a) and 22 under 504.
That is 36.7 approvals per 1,000 business establishments (5,102 establishments in 2023), below the Indiana figure of 43.6 and close to the national 41.0.
It ranks 8th of 92 Indiana counties with approvals. In FY2025 there were 34, down 33% on FY2024.
38 lenders had approvals here; the most active were Heritage Federal Credit Union (33), German American Bank (19) and Premier Capital Corporation (18). 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 Vanderburgh County
By number of approvals to businesses in the county, FY2021–FY2025; 38 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Heritage Federal Credit UnionNewburgh, IN | 33 | $5.3M | 17.6% | |
| 2 | German American BankJasper, IN | 19 | $3.2M | 10.2% | |
| 3 | Premier Capital CorporationIndianapolis, IN · CDC | 18 | $7.9M | 9.6% | |
| 4 | First Federal Savings BankEvansville, IN | 14 | $8.5M | 7.5% | |
| 5 | Stock Yards Bank & Trust CompanyLouisville, KY | 13 | $9.3M | 7.0% | |
| 6 | The First National Bank of CarmiCarmi, IL | 12 | $15.3M | 6.4% | |
| 7 | Old National BankEvansville, IN | 12 | $9.1M | 6.4% | |
| 8 | Banterra BankMarion, IL | 6 | $1.3M | 3.2% | |
| 9 | Legence BankEldorado, IL | 6 | $1,000K | 3.2% | |
| 10 | Farmers State Bank of Alto Pass, IllinoisAlto Pass, IL | 4 | $6.3M | 2.1% | |
| 11 | U.S. Bank, National AssociationCincinnati, OH | 4 | $3.3M | 2.1% | |
| 12 | The Huntington National BankColumbus, OH | 4 | $825K | 2.1% | |
| 13 | BayFirst National BankSaint Petersburg, FL | 4 | $798K | 2.1% | |
| 14 | Indiana Statewide Certified Development CorporationIndianapolis, IN · CDC | 3 | $10.1M | 1.6% | |
| 15 | JPMorgan Chase Bank, National AssociationColumbus, OH | 3 | $1.1M | 1.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 29 | 15.5% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 8 | 4.3% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 8 | 4.3% | |
| 4 | Traveler AccommodationNAICS 7211 | 7 | 3.7% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 3.7% | |
| 6 | Other Personal ServicesNAICS 8129 | 7 | 3.7% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 6 | 3.2% | |
| 8 | Residential Building ConstructionNAICS 2361 | 6 | 3.2% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 2.7% | |
| 10 | Legal ServicesNAICS 5411 | 5 | 2.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 37 | 19.8% | |
| 2 | Construction | 25 | 13.4% | |
| 3 | Other Services (except Public Administration) | 23 | 12.3% | |
| 4 | Manufacturing | 21 | 11.2% | |
| 5 | Retail Trade | 18 | 9.6% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 14 | 7.5% | |
| 7 | Real Estate and Rental and Leasing | 9 | 4.8% | |
| 8 | Health Care and Social Assistance | 9 | 4.8% |
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* | 23 | $15.7M | $175K | 1 | — | 24 | 221 |
| FY2025 | 33 | $23.6M | $225K | 1 | — | 34 | 368 |
| FY2024 | 48 | $31.8M | $201K | 3 | $5.8M | 51 | 826 |
| FY2023 | 24 | $7.5M | $213K | 3 | $5.8M | 27 | 267 |
| FY2022 | 30 | $13.6M | $223K | 5 | $2.9M | 35 | 390 |
| FY2021 | 30 | $18.3M | $350K | 10 | $3.6M | 40 | 342 |
| FY2020 | 26 | $11.8M | $284K | 6 | $3.5M | 32 | 537 |
| FY2019 | 26 | $12.5M | $153K | 6 | $3.5M | 32 | 297 |
| FY2018 | 26 | $10.6M | $121K | 4 | $1.4M | 30 | 303 |
| FY2017 | 22 | $9.8M | $175K | 8 | $15.0M | 30 | 515 |
| FY2016 | 21 | $10.3M | $290K | 3 | $1.4M | 24 | 389 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 148 approvals.
Against Indiana and the country
| FY2021–FY2025 | Vanderburgh County | Indiana | United States |
|---|---|---|---|
| Approvals | 187 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 36.7 | 43.6 | 41.0 |
| Median 7(a) approval | $230K | $150K | $190K |
| Median 504 approval | $498K | $522K | $657K |
| Average approval | $607K | $500K | $573K |
| 504 share of approvals | 11.8% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 11.7 | 10.3 | 10.5 |
| Share of state approvals | 2.8% | 100.0% | — |
Approval sizes
- $50,000 or less16.6%31
- $50,001 to $150,00019.8%37
- $150,001 to $350,00025.7%48
- $350,001 to $1 million25.1%47
- $1 million to $2 million4.8%9
- Over $2 million8.0%15
Age of the businesses
- Existing, more than 2 years old47.6%89
- New business, 2 years or less13.4%25
- Startup, loan funds will open the business20.3%38
- Change of ownership18.7%35
Questions and answers
Which lenders make the most SBA loans in Vanderburgh County?
By approvals in FY2021 to FY2025: Heritage Federal Credit Union (33), German American Bank (19), Premier Capital Corporation (18), First Federal Savings Bank (14), Stock Yards Bank & Trust Company (13). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Vanderburgh County?
The median 7(a) approval was $230K and the median 504 approval $498K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in Vanderburgh County?
Restaurants and Other Eating Places (29); Other Specialty Trade Contractors (8); Services to Buildings and Dwellings (8); Traveler Accommodation (7); Automotive Repair and Maintenance (7).
Is SBA lending in Vanderburgh County rising?
Approvals in the three latest complete fiscal years total 112, against 107 in the three before: broadly level (+5%).
How does Vanderburgh County compare with the rest of Indiana?
36.7 approvals per 1,000 establishments against 43.6 statewide, and 187 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