Lenders › First Internet Bank of Indiana
7(a) lenderFishers, IndianaFDIC-insured bank28th of 2,184 by approvals
First Internet Bank of Indiana
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
In FY2021 to FY2025 SBA approved 1,535 7(a) loans, worth $2.08bn, through First Internet Bank of Indiana of Fishers, Indiana, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 28th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 487 approvals totalling $712M, up 23% on FY2024 (397). FY2026 to 30 Jun 2026 adds 204 more.
The median approval was $895K, against $190K for the 7(a) program as a whole; 10.0% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 48 states and territories and 370 counties, led by Florida (17.0%), Texas (14.3%) and California (11.0%). The largest industry group was construction at 17.9% of approvals, and 11.1% of approvals were to franchise businesses.
Of 472 disbursed loans approved in FY2010 to FY2021, SBA records 25 as charged off (5.3%), 273 as paid in full and 174 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 204 | $238M | $711K | $1.2M | 3,366 |
| FY2025 | 487 | $712M | $1.1M | $1.5M | 6,722 |
| FY2024 | 397 | $580M | $933K | $1.5M | 6,686 |
| FY2023 | 346 | $455M | $898K | $1.3M | 6,848 |
| FY2022 | 154 | $159M | $776K | $1.0M | 2,702 |
| FY2021 | 151 | $172M | $731K | $1.1M | 2,249 |
| FY2020 | 142 | $109M | $350K | $771K | 2,231 |
| FY2019 | 41 | $39.2M | $562K | $955K | 489 |
| FY2018 | 31 | $32.7M | $583K | $1.1M | 378 |
| FY2017 | 20 | $18.2M | $676K | $912K | 237 |
| FY2016 | 26 | $26.1M | $875K | $1.0M | 570 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 260 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Florida | 7(a) program |
|---|---|---|---|
| Approvals in these years | 519 | 31,863 | 639,905 |
| Cancelled or never disbursed | 47 | 3,596 | 79,313 |
| Disbursed loans | 472 | 28,267 | 560,592 |
| Paid in full | 273 | 20,064 | 435,813 |
| Charged off | 25 | 2,783 | 36,891 |
| Still outstanding (status exempt from disclosure) | 174 | 5,420 | 87,888 |
| Charged off, share of disbursed loans | 5.3% | 9.8% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.2% | 3.1% | 2.5% |
| Dollars charged off | $9.5M | $442M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 127 | 46 | 10 | 7.9% | 2.8% |
| FY2020 | 125 | 54 | 5 | 4.0% | 4.0% |
| FY2019 | 36 | 23 | 1 | 2.8% | 6.7% |
| FY2018 | 30 | 20 | 3 | 10.0% | 7.9% |
| FY2017 | 20 | 16 | 1 | — | 7.7% |
| FY2016 | 26 | 23 | 1 | — | 7.2% |
| FY2015 | 22 | 18 | 0 | — | 6.9% |
| FY2014 | 19 | 16 | 2 | — | 6.4% |
| FY2013 | 20 | 19 | 0 | — | 6.0% |
| FY2012 | 15 | 12 | 1 | — | 6.3% |
| FY2011 | 16 | 12 | 1 | — | 6.9% |
| FY2010 | 16 | 14 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $895K | $190K |
| Average approval | $1.4M | $518K |
| Approvals of $150,000 or less | 10.0% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 49.2% | 34.3% |
| Approvals to franchise businesses | 11.1% | 11.5% |
| Jobs supported per approval, as reported | 16.4 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.3% | 6.6% |
States served
| # | State of the business (48 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Florida | 261 | $370M | 17.0% | |
| 2 | Texas | 219 | $269M | 14.3% | |
| 3 | California | 169 | $226M | 11.0% | |
| 4 | Michigan | 146 | $198M | 9.5% | |
| 5 | Colorado | 77 | $76.2M | 5.0% | |
| 6 | Indiana | 60 | $78.5M | 3.9% | |
| 7 | Georgia | 47 | $64.9M | 3.1% | |
| 8 | Illinois | 43 | $62.5M | 2.8% | |
| 9 | Nevada | 40 | $52.8M | 2.6% | |
| 10 | Washington | 39 | $59.1M | 2.5% | |
| 11 | New York | 36 | $61.7M | 2.3% | |
| 12 | Ohio | 33 | $34.3M | 2.1% |
In Florida the lender accounts for 1.1% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (370 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wayne County, MI | 57 | $74.9M | 3.7% | |
| 2 | Dallas County, TX | 53 | $71.1M | 3.5% | |
| 3 | San Diego County, CA | 51 | $61.0M | 3.3% | |
| 4 | Oakland County, MI | 37 | $54.1M | 2.4% | |
| 5 | Broward County, FL | 36 | $61.0M | 2.3% | |
| 6 | Palm Beach County, FL | 34 | $40.2M | 2.2% | |
| 7 | Los Angeles County, CA | 33 | $46.1M | 2.1% | |
| 8 | Clark County, NV | 33 | $44.8M | 2.1% | |
| 9 | Harris County, TX | 31 | $48.3M | 2.0% | |
| 10 | Tarrant County, TX | 31 | $32.3M | 2.0% | |
| 11 | Miami-Dade County, FL | 28 | $52.0M | 1.8% | |
| 12 | Marion County, IN | 26 | $40.5M | 1.7% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 274 | 17.9% | |
| 2 | Retail Trade | 264 | 17.2% | |
| 3 | Accommodation and Food Services | 174 | 11.3% | |
| 4 | Professional, Scientific, and Technical Services | 148 | 9.6% | |
| 5 | Manufacturing | 136 | 8.9% | |
| 6 | Other Services (except Public Administration) | 108 | 7.0% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 106 | 6.9% | |
| 8 | Health Care and Social Assistance | 89 | 5.8% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 156 | 10.2% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 103 | 6.7% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 75 | 4.9% | |
| 4 | Beer, Wine, and Liquor StoresNAICS 4453 | 61 | 4.0% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 60 | 3.9% | |
| 6 | Building Finishing ContractorsNAICS 2383 | 40 | 2.6% | |
| 7 | Automotive Repair and MaintenanceNAICS 8111 | 40 | 2.6% | |
| 8 | Computer Systems Design and Related ServicesNAICS 5415 | 37 | 2.4% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 35 | 2.3% | |
| 10 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 33 | 2.1% |
Approval sizes
- $50,000 or less1.2%18
- $50,001 to $150,0008.9%136
- $150,001 to $350,00013.2%203
- $350,001 to $1 million31.0%476
- $1 million to $2 million21.4%329
- Over $2 million24.3%373
Loan terms
- 5 years or less0.1%1
- Over 5 to 10 years79.0%1,212
- Over 10 to 20 years10.7%165
- Over 20 years10.2%157
Age of the businesses
- Existing, more than 2 years old20.3%311
- New business, 2 years or less44.4%682
- Startup, loan funds will open the business4.8%73
- Change of ownership30.6%469
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 1,217 | 79.3% | |
| 2 | SBA Express Program | 300 | 19.5% | |
| 3 | International Trade Loans | 11 | 0.7% | |
| 4 | 7a General | 6 | 0.4% | |
| 5 | Export Express | 1 | 0.1% |
Franchise share
171 of 1,535 approvals in FY2021–FY2025 (11.1%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Crumbl | 12 | 0.8% | |
| 2 | Petland | 11 | 0.7% | |
| 3 | PickUp USA | 6 | 0.4% | |
| 4 | Face Foundrie | 5 | 0.3% | |
| 5 | Glo Tanning | 4 | 0.3% | |
| 6 | Firehouse Subs | 3 | 0.2% | |
| 7 | Nothing Bundt Cakes | 3 | 0.2% | |
| 8 | D-Bat | 3 | 0.2% |
Questions and answers
How many SBA loans does First Internet Bank of Indiana make?
SBA approved 487 7(a) loans through First Internet Bank of Indiana in FY2025, worth $712M, and 1,535 over FY2021 to FY2025. That ranks 28th of 2,184 active 7(a) lenders by number of approvals.
How large are First Internet Bank of Indiana's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $895K and the average $1.4M. The program-wide median was $190K.
What is First Internet Bank of Indiana's charge-off rate?
Of 472 disbursed loans approved in FY2010 to FY2021, SBA records 25 as charged off (5.3%), 273 as paid in full and 174 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does First Internet Bank of Indiana lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (156); building equipment contractors (103); services to buildings and dwellings (75); beer, wine, and liquor stores (61).
Where does First Internet Bank of Indiana make SBA loans?
In 48 states and territories. Florida 261, Texas 219, California 169, Michigan 146, Colorado 77. In Florida it accounts for 1.1% of all 7(a) approvals.
Is First Internet Bank of Indiana's SBA lending rising?
Approvals in the three latest complete fiscal years total 1,230, against 447 in the three before: rising (+175%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error