Lenders › Lake City Bank
7(a) lenderWarsaw, IndianaFDIC-insured bank403rd of 2,184 by approvals
Lake City Bank
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.
Lake City Bank (Warsaw, Indiana) is an FDIC-insured bank in the SBA 7(a) program, 403rd of 2,184 by approvals in FY2021 to FY2025: 72 loans worth $33.8M.
In FY2025, the latest complete fiscal year, it had 4 approvals totalling $729K, down 69% on FY2024 (13). FY2026 to 30 Jun 2026 adds 7 more.
The median approval was $300K, against $190K for the 7(a) program as a whole; 27.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 2 states and territories and 13 counties, led by Indiana (94.4%) and Michigan (5.6%). The largest industry group was construction at 13.9% of approvals, and 12.5% of approvals were to franchise businesses.
Of 295 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (1.7%), 269 as paid in full and 21 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* | 7 | $870K | $100K | $124K | 27 |
| FY2025 | 4 | $729K | $134K | $182K | 55 |
| FY2024 | 13 | $5.6M | $300K | $427K | 99 |
| FY2023 | 15 | $7.0M | $250K | $466K | 195 |
| FY2022 | 17 | $9.3M | $315K | $548K | 405 |
| FY2021 | 23 | $11.2M | $300K | $488K | 350 |
| FY2020 | 19 | $10.3M | $462K | $543K | 245 |
| FY2019 | 28 | $3.8M | $94K | $135K | 288 |
| FY2018 | 49 | $9.3M | $100K | $189K | 656 |
| FY2017 | 36 | $10.4M | $200K | $290K | 614 |
| FY2016 | 37 | $3.7M | $60K | $100K | 363 |
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 169 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 | Indiana | 7(a) program |
|---|---|---|---|
| Approvals in these years | 319 | 14,121 | 639,905 |
| Cancelled or never disbursed | 24 | 1,611 | 79,313 |
| Disbursed loans | 295 | 12,510 | 560,592 |
| Paid in full | 269 | 10,056 | 435,813 |
| Charged off | 5 | 714 | 36,891 |
| Still outstanding (status exempt from disclosure) | 21 | 1,740 | 87,888 |
| Charged off, share of disbursed loans | 1.7% | 5.7% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.5% | 2.8% | 2.5% |
| Dollars charged off | $1.0M | $129M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 21 | 14 | 0 | — | 2.8% |
| FY2020 | 18 | 16 | 0 | — | 4.0% |
| FY2019 | 26 | 25 | 0 | — | 6.7% |
| FY2018 | 47 | 43 | 0 | 0.0% | 7.9% |
| FY2017 | 33 | 28 | 2 | 6.1% | 7.7% |
| FY2016 | 34 | 32 | 0 | 0.0% | 7.2% |
| FY2015 | 25 | 23 | 0 | — | 6.9% |
| FY2014 | 38 | 38 | 0 | 0.0% | 6.4% |
| FY2013 | 19 | 17 | 2 | — | 6.0% |
| FY2012 | 17 | 16 | 1 | — | 6.3% |
| FY2011 | 15 | 15 | 0 | — | 6.9% |
| FY2010 | 2 | 2 | 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 | $300K | $190K |
| Average approval | $470K | $518K |
| Approvals of $150,000 or less | 27.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 48.6% | 34.3% |
| Approvals to franchise businesses | 12.5% | 11.5% |
| Jobs supported per approval, as reported | 15.3 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 1.7% | 6.6% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Indiana | 68 | $30.5M | 94.4% | |
| 2 | Michigan | 4 | $3.4M | 5.6% |
In Indiana the lender accounts for 1.1% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (13 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Marion County, IN | 18 | $8.9M | 25.0% | |
| 2 | Hamilton County, IN | 14 | $8.9M | 19.4% | |
| 3 | Allen County, IN | 10 | $4.3M | 13.9% | |
| 4 | Kosciusko County, IN | 10 | $2.0M | 13.9% | |
| 5 | St. Joseph County, IN | 5 | $1.0M | 6.9% | |
| 6 | Elkhart County, IN | 4 | $363K | 5.6% | |
| 7 | Berrien County, MI | 3 | $3.0M | 4.2% | |
| 8 | Boone County, IN | 3 | $2.4M | 4.2% | |
| 9 | Whitley County, IN | 1 | — | 1.4% | |
| 10 | Morgan County, IN | 1 | — | 1.4% | |
| 11 | Fulton County, IN | 1 | — | 1.4% | |
| 12 | Cass County, MI | 1 | — | 1.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 10 | 13.9% | |
| 2 | Manufacturing | 9 | 12.5% | |
| 3 | Retail Trade | 9 | 12.5% | |
| 4 | Arts, Entertainment, and Recreation | 8 | 11.1% | |
| 5 | Accommodation and Food Services | 7 | 9.7% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 6 | 8.3% | |
| 7 | Other Services (except Public Administration) | 6 | 8.3% | |
| 8 | Educational Services | 4 | 5.6% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 11.1% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 6 | 8.3% | |
| 3 | Personal Care ServicesNAICS 8121 | 5 | 6.9% | |
| 4 | Building Equipment ContractorsNAICS 2382 | 4 | 5.6% | |
| 5 | Metalworking Machinery ManufacturingNAICS 3335 | 3 | 4.2% | |
| 6 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 3 | 4.2% | |
| 7 | Other Support ServicesNAICS 5619 | 3 | 4.2% | |
| 8 | Other Schools and InstructionNAICS 6116 | 3 | 4.2% | |
| 9 | Other Motor Vehicle DealersNAICS 4412 | 3 | 4.2% | |
| 10 | Child Day Care ServicesNAICS 6244 | 2 | 2.8% |
Approval sizes
- $50,000 or less13.9%10
- $50,001 to $150,00013.9%10
- $150,001 to $350,00034.7%25
- $350,001 to $1 million26.4%19
- $1 million to $2 million8.3%6
- Over $2 million2.8%2
Loan terms
- 5 years or less31.9%23
- Over 5 to 10 years54.2%39
- Over 10 to 20 years12.5%9
- Over 20 years1.4%1
Age of the businesses
- Existing, more than 2 years old31.9%23
- New business, 2 years or less13.9%10
- Startup, loan funds will open the business34.7%25
- Change of ownership19.4%14
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | SBA Express Program | 37 | 51.4% | |
| 2 | Preferred Lenders Program | 32 | 44.4% | |
| 3 | Working Capital CAPLine | 3 | 4.2% |
Franchise share
9 of 72 approvals in FY2021–FY2025 (12.5%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Pure Barre | 3 | 4.2% | |
| 2 | Polaris | 3 | 4.2% | |
| 3 | Primrose Schools | 2 | 2.8% | |
| 4 | Rainbow Restoration | 1 | 1.4% |
Questions and answers
How many SBA loans does Lake City Bank make?
SBA approved 4 7(a) loans through Lake City Bank in FY2025, worth $729K, and 72 over FY2021 to FY2025. That ranks 403rd of 2,184 active 7(a) lenders by number of approvals.
How large are Lake City Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $300K and the average $470K. The program-wide median was $190K.
What is Lake City Bank's charge-off rate?
Of 295 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (1.7%), 269 as paid in full and 21 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 Lake City Bank lend to most?
By number of approvals in FY2021 to FY2025: other amusement and recreation industries (8); restaurants and other eating places (6); personal care services (5); building equipment contractors (4).
Where does Lake City Bank make SBA loans?
In 2 states and territories. Indiana 68, Michigan 4. In Indiana it accounts for 1.1% of all 7(a) approvals.
Is Lake City Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 32, against 59 in the three before: falling (-46%).
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