Merchants Bank of Indiana approved 334 SBA loans worth $380.6M between October 2021 and June 2026, ranking #128 of 2,283 SBA lenders nationally by loan count. Its median loan was $667,100, and 33% went to startups or businesses under two years old. It lent in 33 states, most often in Indiana, and its most financed industry was restaurants and hotels.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Indiana | 93 | $75.8M | $500,000 | #17 |
| Illinois | 67 | $109.0M | $1,232,400 | #30 |
| Texas | 35 | $42.4M | $727,500 | #100 |
| Florida | 28 | $23.1M | $629,500 | #97 |
| California | 12 | $10.3M | $595,000 | #166 |
| Ohio | 10 | $11.3M | $926,250 | #83 |
| Michigan | 9 | $12.4M | $802,600 | #92 |
| Wisconsin | 9 | $18.8M | $1,580,000 | #83 |
| Georgia | 7 | $5.9M | $508,600 | #132 |
| Minnesota | 6 | $4.5M | $586,400 | #132 |
| Pennsylvania | 6 | $3.5M | $494,550 | #122 |
| Colorado | 6 | $10.4M | $1,085,950 | #116 |
| Massachusetts | 4 | $3.1M | $696,050 | #123 |
| Washington | 4 | $2.4M | $485,450 | #109 |
| Connecticut | 4 | $1.9M | $386,250 | #73 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Restaurants and hotels | 53 | $1,283,700 | |
| Administrative and support services | 48 | $476,250 | |
| Retail | 47 | $1,232,400 | |
| Other services (repair, personal care) | 43 | $473,300 | |
| Construction | 34 | $500,000 | |
| Manufacturing | 24 | $568,100 | |
| Health care and social assistance | 18 | $801,500 | |
| Professional and technical services | 16 | $582,650 | |
| Arts, entertainment and recreation | 15 | $640,000 | |
| Wholesale trade | 9 | $1,162,500 |