SBA Ledger

States › Indiana

State2.0% of US approvals231 lenders active

SBA loans in Indiana

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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.

Businesses in Indiana received 6,784 SBA loan approvals worth $3.39bn in FY2021 to FY2025, 6,050 of them 7(a) loans and 734 504 loans.

That is 43.6 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 2.0% of all approvals in the country (17th of 54 states and territories).

In FY2025 there were 1,368 approvals totalling $696M, about level with FY2024. The median 7(a) approval over the five years was $150K and the median 504 approval $522K.

231 lenders had at least one approval in the state; by number of 7(a) approvals the most active were The Huntington National Bank (1,521), 1st Source Bank (435) and Centier Bank (318).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 5.7% as charged off, against 6.6% nationally.

1,368approvals, FY20256,784 in FY2021–FY2025
$696Mapproved, FY2025$3.39bn in FY2021–FY2025
43.6approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$150Kmedian 7(a) approvalUS: $190K
5.7%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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.

Most active 7(a) lenders in Indiana

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in IN, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1The Huntington National BankColumbus, OH1,521$332M25.1%$92K5.7%
21st Source BankSouth Bend, IN435$88.1M7.2%$90K2.6%
3Centier BankWhiting, IN318$85.7M5.3%$140K5.9%
4Old National BankEvansville, IN172$138M2.8%$500K4.7%
5KeyBank National AssociationCleveland, OH153$73.5M2.5%$75K4.3%
6First Merchants BankIndianapolis, IN141$36.9M2.3%$350K5.0%
7Northeast BankLewiston, ME138$18.1M2.3%$106K12.8%
8STAR Financial BankFort Wayne, IN137$31.3M2.3%$107K3.6%
9Citizens State Bank of New CastleNew Castle, IN122$32.3M2.0%$150K1.6%
10Merchants Bank of IndianaCarmel, IN119$100M2.0%$734K1.2%
11Live Oak Banking CompanyWilmington, NC115$168M1.9%$850K2.2%
12Horizon BankMichigan City, IN99$44.4M1.6%$248K4.5%
13BayFirst National BankSaint Petersburg, FL95$14.4M1.6%$150K19.2%
14Newtek Bank, National AssociationMiami, FL94$46.7M1.6%$225K—
15JPMorgan Chase Bank, National AssociationColumbus, OH94$19.3M1.6%$200K7.4%
16Readycap Lending, LLCBerkeley Heights, NJ92$28.8M1.5%$138K4.3%
17U.S. Bank, National AssociationCincinnati, OH84$19.4M1.4%$45K6.2%
18Flagship Enterprise Center, Inc. (dba Bankable)Anderson, IN84$13.0M1.4%$150K8.2%
19Stock Yards Bank & Trust CompanyLouisville, KY76$51.0M1.3%$337K6.2%
20German American BankJasper, IN76$25.5M1.3%$200K1.0%
21United Midwest Savings Bank National AssociationDe Graff, OH72$32.2M1.2%$150K15.9%
22PNC Bank, National AssociationWilmington, DE72$13.1M1.2%$50K8.1%
23First Financial BankCincinnati, OH69$29.8M1.1%$300K3.4%
24Lake City BankWarsaw, IN68$30.5M1.1%$300K1.7%
25Heritage Federal Credit UnionNewburgh, IN68$13.3M1.1%$150K—
26Community First Bank of IndianaKokomo, IN67$40.6M1.1%$363K15.5%
27Fifth Third BankCincinnati, OH66$45.5M1.1%$200K5.5%
28First Internet Bank of IndianaFishers, IN60$78.5M1.0%$895K5.3%
29Celtic Bank CorporationSalt Lake City, UT52$30.7M0.9%$150K17.0%
30The Farmers Bank, Frankfort, IndianaFrankfort, IN52$27.6M0.9%$409K5.6%
31Byline BankChicago, IL46$56.8M0.8%$806K9.5%
32Newtek Small Business Finance, Inc.Lake Success, NY46$25.9M0.8%$300K6.8%
33First Bank of the LakeOsage Beach, MO43$46.8M0.7%$350K2.7%
34Everwise Credit UnionSouth Bend, IN39$33.8M0.6%$1.4M2.6%
35First Federal Savings BankHuntington, IN38$24.2M0.6%$353K2.5%
36GBankLas Vegas, NV35$116M0.6%$2.2M1.7%
37Shoreham BankWarwick, RI32$65.8M0.5%$1.4M2.2%
38Northwest BankWarren, PA29$15.3M0.5%$150K1.8%
39Hendricks County Bank and Trust CompanyBrownsburg, IN29$5.2M0.5%$100K—
40First Harrison BankCorydon, IN25$7.3M0.4%$150K—

504 certified development companies

#LenderApprovals in IN, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Indiana Statewide Certified Development CorporationIndianapolis, IN · 504 CDC231$222M31.5%$599K1.7%
2Premier Capital CorporationIndianapolis, IN · 504 CDC185$154M25.2%$529K0.8%
3Regional Development CompanyValparaiso, IN · 504 CDC113$73.3M15.4%$493K0.8%
4Business Development Corporation (BDC)South Bend, IN · 504 CDC93$65.9M12.7%$410K1.3%
5Community Development Corporation of Fort WayneFort Wayne, IN · 504 CDC67$40.1M9.1%$361K0.0%
6Small Business Growth CorporationSpringfield, IL · 504 CDC23$32.4M3.1%$609K1.4%
7Capital Access Corporation - KentuckyLouisville, KY · 504 CDC8$2.7M1.1%$516K2.1%
8SomerCor 504, Inc.Chicago, IL · 504 CDC4$4.0M0.5%$587K1.4%
9Alloy Development Co., Inc.Cincinnati, OH · 504 CDC4$2.6M0.5%$672K1.1%
10Michigan Certified Development CorporationEast Lansing, MI · 504 CDC2—0.3%$583K0.8%
11AMPAC Tri-State CDC, Inc.Ontario, CA · 504 CDC1—0.1%$773K0.7%
12Community Ventures CorporationLexington, KY · 504 CDC1—0.1%$615K3.3%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*677$386M$187K80$81.6M7577,477
FY20251,239$565M$150K129$131M1,36812,673
FY20241,321$588M$143K104$113M1,42513,794
FY20231,192$493M$150K96$92.9M1,28814,739
FY20221,121$492M$150K211$156M1,33213,859
FY20211,177$640M$216K194$119M1,37115,012
FY2020924$454M$167K156$90.3M1,08011,264
FY20191,022$385M$145K143$99.6M1,16511,132
FY20181,359$505M$108K160$97.0M1,51913,907
FY20171,369$495M$108K168$106M1,53716,326
FY20161,326$415M$100K171$98.6M1,49715,421

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Indiana by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1Marion County1,364$698M24,24856.3
2Hamilton County794$396M10,44676.0
3Lake County473$249M10,56644.8
4Allen County396$192M9,69640.8
5Johnson County281$97.7M3,77974.4
6St. Joseph County278$136M5,95946.7
7Hendricks County275$90.2M3,86071.2
8Vanderburgh County187$113M5,10236.7
9Elkhart County185$116M5,21135.5
10Tippecanoe County183$92.2M3,85747.4
11Porter County183$96.4M3,73449.0
12Madison County128$39.9M2,35354.4
13Boone County123$54.5M1,87365.7
14LaPorte County121$76.2M2,29752.7
15Hancock County100$45.5M1,63461.2
16Clark County97$64.1M2,72735.6
17Monroe County87$40.6M3,09528.1
18Delaware County81$36.7M2,31435.0
19Bartholomew County73$57.6M1,95037.4
20Marshall County71$35.0M1,10864.1
21Howard County69$37.0M1,81338.1
22Floyd County67$36.0M1,92634.8
23Kosciusko County57$15.7M2,03928.0
24Morgan County52$14.5M1,24841.7
25Henry County49$18.7M83358.8
26Steuben County46$22.3M96547.7
27Warrick County45$22.1M1,27035.4
28Shelby County44$18.8M95146.3
29Vigo County43$36.6M2,47317.4
30Dearborn County37$15.3M98837.4
31Whitley County34$14.8M69948.6
32DeKalb County32$22.7M1,03430.9
33Daviess County30$14.3M96031.3
34Putnam County29$15.5M74738.8
35Clinton County29$16.2M63046.0
36Noble County25$5.4M92127.1
37Lawrence County23$17.2M90925.3
38Wayne County22$17.7M1,45315.1
39Wells County21$4.6M65831.9
40Montgomery County21$9.2M88223.8
41Gibson County21$13.4M72828.8
42Dubois County20$6.1M1,31315.2
43Harrison County19$6.1M66928.4
44Jasper County19$8.9M79024.1
45Grant County18$11.5M1,26114.3
46Jackson County18$21.0M99918.0
47Huntington County17$13.1M91218.6
48Jefferson County17$23.6M67725.1
49Rush County16$4.6M38641.5
50Starke County16$5.8M31950.2
51Carroll County15$2.6M40537.0
52Wabash County15$8.7M74720.1
53Randolph County15$8.6M49030.6
54Cass County14$10.4M65821.3
55Decatur County14$5.6M65221.5
56Franklin County14$5.4M45430.8
57Posey County14$6.8M53826.0
58LaGrange County13$16.1M97713.3
59Ripley County13$3.4M66719.5
60Brown County13$5.0M37135.0
61Knox County11$9.9M87312.6
62Owen County11$3.2M34432.0
63Clay County11$6.5M49222.4
64Greene County11$4.2M57219.2
65White County10$4.8M58917.0
66Adams County10$5.8M76813.0
67Fayette County10$4.8M40924.4
68Tipton County9$1.6M31328.8
69Washington County9$6.1M44920.0
70Fulton County9$1.1M46519.4
71Benton County8$2.1M16050.0
72Jay County8$3.3M41119.5
73Miami County7$3.3M58412.0
74Scott County7$3.0M40117.5
75Orange County7$4.4M39817.6
76Jennings County6$1.7M48812.3
77Perry County6$2.6M35616.9
78Parke County6$809K30719.5
79Pulaski County6$2.8M32518.5
80Martin County6$3.8M23026.1
81Spencer County5$7.0M42311.8
82Newton County5$2.4M23221.6
83Sullivan County4$4.2M32512.3
84Crawford County4$2.8M15126.5
85Blackford County4$585K23117.3
86Fountain County4$608K33212.0
87Pike County4$2.3M20119.9
88Switzerland County3$2.4M13222.7
89Warren County3$1.9M15519.4
90Union County2—12316.3
91Ohio County1—8611.6
92Vermillion County1—2683.7

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225678$297M10.0%
2General Freight TruckingNAICS 4841536$78.3M7.9%
3Offices of Other Health PractitionersNAICS 6213230$61.6M3.4%
4Services to Buildings and DwellingsNAICS 5617228$64.4M3.4%
5Personal Care ServicesNAICS 8121223$53.2M3.3%
6Other Amusement and Recreation IndustriesNAICS 7139220$108M3.2%
7Building Equipment ContractorsNAICS 2382210$75.6M3.1%
8Automotive Repair and MaintenanceNAICS 8111195$96.6M2.9%
9Traveler AccommodationNAICS 7211167$429M2.5%
10Other Specialty Trade ContractorsNAICS 2389151$61.2M2.2%
11Residential Building ConstructionNAICS 2361128$30.4M1.9%
12Building Finishing ContractorsNAICS 2383118$31.0M1.7%
13Foundation, Structure, and Building Exterior ContractorsNAICS 2381114$33.0M1.7%
14Other Professional, Scientific, and Technical ServicesNAICS 5419107$58.9M1.6%
15Other Personal ServicesNAICS 8129106$37.6M1.6%

Sectors

#NAICS sectorApprovalsShare
1Accommodation and Food Services95414.1%
2Construction81812.1%
3Retail Trade6709.9%
4Other Services (except Public Administration)6679.8%
5Transportation and Warehousing6609.7%
6Manufacturing6078.9%
7Health Care and Social Assistance5748.5%
8Professional, Scientific, and Technical Services5307.8%
9Administrative and Support and Waste Management and Remediation Services3885.7%
10Arts, Entertainment, and Recreation2724.0%

Franchise brands

#BrandApprovalsShare
1Biggby Coffee260.4%
2Subway230.3%
3The UPS Store190.3%
4Super 8 by Wyndhan120.2%
5Anytime Fitness120.2%
6Comfort Inn110.2%
7Quality Inn110.2%
8Scooter's Coffee110.2%
9Fastsigns110.2%
10Pure Barre110.2%

How earlier loans turned out

Indiana, 7(a)5.7%
United States, 7(a)6.6%
Indiana, 5041.1%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021IN 7(a)US 7(a)IN 504US 504
Approvals in these years14,121639,9051,98785,591
Cancelled or never disbursed1,61179,31327612,514
Disbursed loans12,510560,5921,71173,077
Paid in full10,056435,81377235,491
Charged off71436,89119905
Still outstanding (status exempt from disclosure)1,74087,88892036,681
Charged off, share of disbursed loans5.7%6.6%1.1%1.2%
Dollars charged off, share of disbursed dollars2.8%2.5%1.0%0.9%
Dollars charged off$129M$5.70bn$9.2M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025IndianaUnited States
Approvals per 1,000 establishments43.641.0
Median 7(a) approval$150K$190K
Median 504 approval$522K$657K
504 share of approvals10.8%11.0%
Jobs supported per approval, as reported10.310.5
Approvals, change on FY2016–FY20200%10%

Questions and answers

Which lenders make the most SBA loans in Indiana?

By 7(a) approvals in FY2021 to FY2025: The Huntington National Bank (1,521), 1st Source Bank (435), Centier Bank (318), Old National Bank (172), KeyBank National Association (153). For 504 loans: Indiana Statewide Certified Development Corporation (231), Premier Capital Corporation (185), Regional Development Company (113). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Indiana?

The median 7(a) approval was $150K and the median 504 approval $522K; the average across both programs was $500K.

Which industries get the most SBA loans in Indiana?

Restaurants and Other Eating Places (678); General Freight Trucking (536); Offices of Other Health Practitioners (230); Services to Buildings and Dwellings (228); Personal Care Services (223).

Which Indiana counties receive the most SBA loans?

Marion County (1,364), Hamilton County (794), Lake County (473), Allen County (396), Johnson County (281), by approvals in FY2021 to FY2025.

Is SBA lending in Indiana rising?

Approvals in the three latest complete fiscal years total 4,081, against 3,783 in the three before: broadly level (+8%).

What share of SBA loans in Indiana are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 5.7% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.1% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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