States › Indiana › Whitley County
County31st of 92 in Indiana by approvalsFIPS 18183
SBA loans in Whitley 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 34 loans to businesses in Whitley County, Indiana, in FY2021 to FY2025, worth $14.8M: 30 under 7(a) and 4 under 504.
That is 48.6 approvals per 1,000 business establishments (699 establishments in 2023), close to the Indiana figure of 43.6 and above the national 41.0.
It ranks 31st of 92 Indiana counties with approvals. In FY2025 there were 7.
16 lenders had approvals here; the most active were 1st Source Bank (9), STAR Financial Bank (4) and The Huntington National Bank (3). 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 Whitley County
By number of approvals to businesses in the county, FY2021–FY2025; 16 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | 1st Source BankSouth Bend, IN | 9 | $1.3M | 26.5% | |
| 2 | STAR Financial BankFort Wayne, IN | 4 | $685K | 11.8% | |
| 3 | The Huntington National BankColumbus, OH | 3 | $1.1M | 8.8% | |
| 4 | Live Oak Banking CompanyWilmington, NC | 2 | — | 5.9% | |
| 5 | Community Development Corporation of Fort WayneFort Wayne, IN · CDC | 2 | — | 5.9% | |
| 6 | Farmers and Merchants BankLaotto, IN | 2 | — | 5.9% | |
| 7 | First Federal Savings BankHuntington, IN | 2 | — | 5.9% | |
| 8 | Centier BankWhiting, IN | 2 | — | 5.9% | |
| 9 | Lake City BankWarsaw, IN | 1 | — | 2.9% | |
| 10 | First Western SBLC, LLCDallas, TX | 1 | — | 2.9% | |
| 11 | The MINT National BankKingwood, TX | 1 | — | 2.9% | |
| 12 | Business Development Corporation (BDC)South Bend, IN · CDC | 1 | — | 2.9% | |
| 13 | Crossroads BankWabash, IN | 1 | — | 2.9% | |
| 14 | Indiana Statewide Certified Development CorporationIndianapolis, IN · CDC | 1 | — | 2.9% | |
| 15 | KeyBank National AssociationCleveland, OH | 1 | — | 2.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 5 | 14.7% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 11.8% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 4 | 11.8% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 8.8% | |
| 5 | Gasoline StationsNAICS 4471 | 2 | 5.9% | |
| 6 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 5.9% | |
| 7 | General Freight TruckingNAICS 4841 | 2 | 5.9% | |
| 8 | Traveler AccommodationNAICS 7211 | 1 | 2.9% | |
| 9 | Special Food ServicesNAICS 7223 | 1 | 2.9% | |
| 10 | Other Miscellaneous Store RetailersNAICS 4539 | 1 | 2.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 8 | 23.5% | |
| 2 | Accommodation and Food Services | 6 | 17.6% | |
| 3 | Retail Trade | 5 | 14.7% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 5 | 14.7% | |
| 5 | Wholesale Trade | 3 | 8.8% | |
| 6 | Other Services (except Public Administration) | 3 | 8.8% | |
| 7 | Transportation and Warehousing | 2 | 5.9% | |
| 8 | Arts, Entertainment, and Recreation | 1 | 2.9% |
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 | — | — | 1 | — | 3 | 28 |
| FY2025 | 5 | $1.1M | $82K | 2 | — | 7 | 67 |
| FY2024 | 5 | $1.1M | $195K | 0 | — | 5 | 16 |
| FY2023 | 1 | — | — | 0 | — | 1 | 1 |
| FY2022 | 9 | $5.8M | $158K | 2 | — | 11 | 175 |
| FY2021 | 10 | $4.7M | $150K | 0 | — | 10 | 118 |
| FY2020 | 6 | $1.5M | $67K | 0 | — | 6 | 43 |
| FY2019 | 6 | $1.0M | $131K | 1 | — | 7 | 75 |
| FY2018 | 9 | $1.5M | $90K | 0 | — | 9 | 128 |
| FY2017 | 8 | $1.3M | $115K | 1 | — | 9 | 62 |
| FY2016 | 10 | $2.2M | $50K | 0 | — | 10 | 56 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 41 approvals.
Against Indiana and the country
| FY2021–FY2025 | Whitley County | Indiana | United States |
|---|---|---|---|
| Approvals | 34 | 6,784 | 342,825 |
| Approvals per 1,000 establishments | 48.6 | 43.6 | 41.0 |
| Median 7(a) approval | $150K | $150K | $190K |
| Median 504 approval | $346K | $522K | $657K |
| Average approval | $434K | $500K | $573K |
| 504 share of approvals | 11.8% | 10.8% | 11.0% |
| Jobs supported per approval, as reported | 11.1 | 10.3 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less26.5%9
- $50,001 to $150,00023.5%8
- $150,001 to $350,00017.6%6
- $350,001 to $1 million20.6%7
- $1 million to $2 million8.8%3
- Over $2 million2.9%1
Age of the businesses
- Existing, more than 2 years old44.1%15
- New business, 2 years or less20.6%7
- Startup, loan funds will open the business26.5%9
- Change of ownership8.8%3
Questions and answers
Which lenders make the most SBA loans in Whitley County?
By approvals in FY2021 to FY2025: 1st Source Bank (9), STAR Financial Bank (4), The Huntington National Bank (3), Live Oak Banking Company (2), Community Development Corporation of Fort Wayne (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Whitley County?
The median 7(a) approval was $150K and the median 504 approval $346K; the Indiana 7(a) median was $150K.
Which industries get the most SBA loans in Whitley County?
Building Equipment Contractors (5); Restaurants and Other Eating Places (4); Services to Buildings and Dwellings (4); Automotive Repair and Maintenance (3); Gasoline Stations (2).
Is SBA lending in Whitley County rising?
Approvals in the three latest complete fiscal years total 13, against 27 in the three before: falling (-52%).
How does Whitley County compare with the rest of Indiana?
48.6 approvals per 1,000 establishments against 43.6 statewide, and 34 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