Lenders › Heritage Federal Credit Union
7(a) lenderNewburgh, Indianacredit union402nd of 2,184 by approvals
Heritage Federal Credit Union
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 73 7(a) loans, worth $15.3M, through Heritage Federal Credit Union of Newburgh, Indiana, a credit union in the SBA 7(a) program. By number of approvals that is 402nd among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 18 approvals totalling $3.5M, down 47% on FY2024 (34). FY2026 to 30 Jun 2026 adds 12 more.
The median approval was $150K, against $190K for the 7(a) program as a whole; 53.4% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 2 states and territories and 12 counties, led by Indiana (93.2%) and Kentucky (6.8%). The largest industry group was other services (except public administration) at 15.1% of approvals, and 5.5% of approvals were to franchise businesses.
Heritage Federal Credit Union has fewer than 30 disbursed loans from the FY2010 to FY2021 approval years on record, too few for a charge-off rate to be shown.
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* | 12 | $6.4M | $162K | $530K | 103 |
| FY2025 | 18 | $3.5M | $150K | $196K | 109 |
| FY2024 | 34 | $8.8M | $161K | $258K | 250 |
| FY2023 | 11 | $1.4M | $68K | $123K | 60 |
| FY2022 | 7 | $976K | $125K | $139K | 60 |
| FY2021 | 3 | $722K | $222K | $241K | 48 |
| FY2020 | 5 | $971K | $170K | $194K | 39 |
| FY2019 | 1 | — | — | — | 18 |
| FY2018 | 0 | — | — | — | 0 |
| FY2017 | 0 | — | — | — | 0 |
| FY2016 | 0 | — | — | — | 0 |
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 6 approvals. First approval on file: FY2019.
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 | Indiana | 7(a) program |
|---|---|---|---|
| Approvals in these years | 9 | 14,121 | 639,905 |
| Cancelled or never disbursed | 0 | 1,611 | 79,313 |
| Disbursed loans | 9 | 12,510 | 560,592 |
| Paid in full | 5 | 10,056 | 435,813 |
| Charged off | 0 | 714 | 36,891 |
| Still outstanding (status exempt from disclosure) | 4 | 1,740 | 87,888 |
| Charged off, share of disbursed loans | too few loans | 5.7% | 6.6% |
| Dollars charged off, share of disbursed dollars | too few loans | 2.8% | 2.5% |
| Dollars charged off | — | $129M | $5.70bn |
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $150K | $190K |
| Average approval | $210K | $518K |
| Approvals of $150,000 or less | 53.4% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 43.8% | 34.3% |
| Approvals to franchise businesses | 5.5% | 11.5% |
| Jobs supported per approval, as reported | 7.2 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | too few loans | 6.6% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Indiana | 68 | $13.3M | 93.2% | |
| 2 | Kentucky | 5 | $2.1M | 6.8% |
In Indiana the lender accounts for 1.1% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (12 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Vanderburgh County, IN | 33 | $5.3M | 45.2% | |
| 2 | Warrick County, IN | 15 | $4.1M | 20.5% | |
| 3 | Posey County, IN | 7 | $1.1M | 9.6% | |
| 4 | Daviess County, KY | 3 | $557K | 4.1% | |
| 5 | Clark County, IN | 3 | $514K | 4.1% | |
| 6 | Crawford County, IN | 3 | $374K | 4.1% | |
| 7 | Henderson County, KY | 2 | — | 2.7% | |
| 8 | Perry County, IN | 2 | — | 2.7% | |
| 9 | Gibson County, IN | 2 | — | 2.7% | |
| 10 | Spencer County, IN | 1 | — | 1.4% | |
| 11 | Floyd County, IN | 1 | — | 1.4% | |
| 12 | Dubois County, IN | 1 | — | 1.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 11 | 15.1% | |
| 2 | Accommodation and Food Services | 10 | 13.7% | |
| 3 | Retail Trade | 8 | 11.0% | |
| 4 | Construction | 8 | 11.0% | |
| 5 | Manufacturing | 7 | 9.6% | |
| 6 | Professional, Scientific, and Technical Services | 6 | 8.2% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 6 | 8.2% | |
| 8 | Arts, Entertainment, and Recreation | 4 | 5.5% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 12.3% | |
| 2 | Other Personal ServicesNAICS 8129 | 5 | 6.8% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 4 | 5.5% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 4.1% | |
| 5 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 3 | 4.1% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 4.1% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 3 | 4.1% | |
| 8 | Legal ServicesNAICS 5411 | 2 | 2.7% | |
| 9 | Beer, Wine, and Liquor StoresNAICS 4453 | 2 | 2.7% | |
| 10 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 2 | 2.7% |
Approval sizes
- $50,000 or less26.0%19
- $50,001 to $150,00027.4%20
- $150,001 to $350,00035.6%26
- $350,001 to $1 million8.2%6
- $1 million to $2 million2.7%2
Loan terms
- 5 years or less32.9%24
- Over 5 to 10 years45.2%33
- Over 10 to 20 years9.6%7
- Over 20 years12.3%9
Age of the businesses
- Existing, more than 2 years old47.9%35
- New business, 2 years or less27.4%20
- Startup, loan funds will open the business16.4%12
- Change of ownership8.2%6
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 55 | 75.3% | |
| 2 | SBA Express Program | 18 | 24.7% |
Franchise share
4 of 73 approvals in FY2021–FY2025 (5.5%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | DQ Grill & Chill Operating Agreement | 1 | 1.4% | |
| 2 | Pure Barre | 1 | 1.4% | |
| 3 | The Brothers that just do Gutters | 1 | 1.4% | |
| 4 | iLoveKickboxing.com | 1 | 1.4% |
Questions and answers
How many SBA loans does Heritage Federal Credit Union make?
SBA approved 18 7(a) loans through Heritage Federal Credit Union in FY2025, worth $3.5M, and 73 over FY2021 to FY2025. That ranks 402nd of 2,184 active 7(a) lenders by number of approvals.
How large are Heritage Federal Credit Union's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $150K and the average $210K. The program-wide median was $190K.
What is Heritage Federal Credit Union's charge-off rate?
Heritage Federal Credit Union has fewer than 30 disbursed loans from the FY2010 to FY2021 approval years on record, too few for a charge-off rate to be shown. 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 Heritage Federal Credit Union lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (9); other personal services (5); services to buildings and dwellings (4); other amusement and recreation industries (3).
Where does Heritage Federal Credit Union make SBA loans?
In 2 states and territories. Indiana 68, Kentucky 5. In Indiana it accounts for 1.1% of all 7(a) approvals.
Is Heritage Federal Credit Union's SBA lending rising?
Approvals in the three latest complete fiscal years total 63, against 15 in the three before: rising (+320%).
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