6,170 SBA loans worth $3.1B went to Indiana businesses between October 2021 and June 2026, from 228 lenders. Huntington National Bank made the most 7(a) loans, 1,309 or 24% of the state's total, and the ten most active lenders made 53%. The median 7(a) loan was $150,000, below the national median of $158,000. Restaurants and hotels was the most financed industry, at 14% of loans. Annual loan count rose 6% from fiscal 2023 to fiscal 2025.

Most active SBA 7(a) lenders in Indiana

#	Lender	Loans	Approved	Median loan	To startups	Most common borrower
1	Huntington National Bank Bank · Columbus, OH	1,309	$291.1M	$70,000	33%	Transportation and warehousing
2	1st Source Bank Bank · South Bend, IN	379	$77.5M	$81,000	61%	Transportation and warehousing
3	Centier Bank Bank · Whiting, IN	269	$76.3M	$120,800	37%	Other services (repair, personal care)
4	Northeast Bank Bank · Portland, ME	169	$24.6M	$128,400	13%	Construction
5	First Merchants Bank Bank · Muncie, IN	147	$32.3M	$50,000	11%	Construction
6	Old National Bank Bank · Evansville, IN	141	$110.1M	$395,500	33%	Construction
7	KeyBank Bank · Cleveland, OH	132	$59.2M	$172,900	65%	Restaurants and hotels
8	STAR Financial Bank Bank · Fort Wayne, IN	126	$27.6M	$100,000	12%	Construction
9	Citizens State Bank of New Castle Bank · New Castle, IN	125	$33.7M	$150,000	38%	Professional and technical services
10	Newtek Bank Bank · Miami, FL	121	$56.5M	$225,000	19%	Construction
11	Live Oak Banking Bank · Wilmington, NC	108	$147.5M	$630,000	23%	Professional and technical services
12	Readycap Lending Non-bank lender · Berkeley Heights, NJ	108	$35.2M	$50,000	14%	Professional and technical services
13	JPMorgan Chase Bank Bank · Columbus, OH	103	$21.0M	$180,000	9%	Construction
14	Horizon Bank Bank · Michigan City, IN	100	$42.4M	$152,650	47%	Manufacturing
15	Merchants Bank of Indiana Bank · Carmel, IN	93	$75.8M	$500,000	33%	Retail
16	BayFirst National Bank Bank · St. Petersburg, FL	91	$13.2M	$150,000	3%	Construction
17	U.S. Bank Bank · Cincinnati, OH	88	$22.8M	$40,000	36%	Construction
18	Flagship Enterprise Center, Inc. (dba Bankable) Non-bank lender · Anderson, IN	85	$13.9M	$150,000	51%	Restaurants and hotels
19	Fifth Third Bank Bank · Cincinnati, OH	77	$45.0M	$100,000	27%	Wholesale trade
20	Heritage Federal Credit Union Credit union · Newburgh, IN	77	$18.9M	$143,400	48%	Restaurants and hotels
21	PNC Bank Bank · Wilmington, DE	74	$12.4M	$50,000	43%	Construction
22	United Midwest Savings Bank Bank · Degraff, OH	68	$32.0M	$150,000	78%	Health care and social assistance
23	Community First Bank of Indiana Bank · Kokomo, IN	64	$42.7M	$375,000	58%	Retail
24	First Internet Bank of Indiana Bank · Fishers, IN	63	$85.5M	$920,000	32%	Construction
25	Stock Yards Bank & Trust Bank · Louisville, KY	63	$42.7M	$352,000	33%	Restaurants and hotels

Ranked by number of 7(a) loans approved for Indiana businesses since October 2021. "To startups" is the share of those loans to businesses under two years old or not yet open.

Top SBA 504 lenders (certified development companies)

#	Certified development company	Loans	SBA portion approved	Median
1	Indiana Statewide Certified Development Indianapolis, IN	207	$225.5M	$616,000
2	Premier Capital Indianapolis, IN	158	$142.8M	$658,000
3	Regional Development Valparaiso, IN	90	$66.7M	$553,000
4	Business Development Corporation (BDC) South Bend, IN	69	$51.3M	$523,000
5	Community Development Corporation of Fort Wayne Fort Wayne, IN	57	$37.7M	$419,000
6	Small Business Growth Springfield, IL	19	$28.5M	$1,111,000
7	Capital Access Corporation - Kentucky Louisville, KY	7	$2.6M	$309,000
8	SomerCor 504 Chicago, IL	6	$6.9M	$1,011,500
9	Alloy Development Co. Cincinnati, OH	2	$997K	$498,500
10	Michigan Certified Development East Lansing, MI	2	$1.5M	$737,500

504 loans finance real estate and heavy equipment. The development company funds up to 40% of the project, a bank usually funds 50%, and the borrower puts in about 10%.

SBA loans by industry in Indiana

Industry	Loans	Share	Median loan	Most active lender
Restaurants and hotels	867	14%	$350,000	Huntington National Bank
Construction	786	13%	$150,000	Huntington National Bank
Other services (repair, personal care)	639	10%	$150,000	Huntington National Bank
Retail	577	9%	$234,200	Huntington National Bank
Transportation and warehousing	566	9%	$70,000	Huntington National Bank
Health care and social assistance	517	8%	$150,000	Huntington National Bank
Manufacturing	514	8%	$300,000	Huntington National Bank
Professional and technical services	497	8%	$150,000	Huntington National Bank
Administrative and support services	371	6%	$145,000	Huntington National Bank
Arts, entertainment and recreation	251	4%	$250,000	Huntington National Bank
Wholesale trade	195	3%	$250,000	Huntington National Bank
Real estate and rental	122	2%	$187,850	Huntington National Bank

SBA loans per fiscal year in Indiana