51 SBA loans worth $31.5M went to businesses in Michigan City, IN between October 2021 and June 2026, from 18 lenders. 1st Source Bank made the most, 9 loans. The median loan was $324,000, compared with $171,000 across Indiana, and restaurants and hotels was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | 1st Source Bank Bank · South Bend, IN | 9 | $1.5M | $50,000 | 67% |
| 2 | Centier Bank Bank · Whiting, IN | 8 | $2.6M | $237,500 | 12% |
| 3 | Regional Development Certified development company · Valparaiso, IN | 7 | $3.9M | $493,000 | 14% |
| 4 | Horizon Bank Bank · Michigan City, IN | 4 | $860K | $90,000 | 25% |
| 5 | Byline Bank Bank · Chicago, IL | 3 | $2.5M | $980,000 | 67% |
| 6 | Business Development Corporation (BDC) Certified development company · South Bend, IN | 3 | $1.8M | $588,000 | 33% |
| 7 | Old National Bank Bank · Evansville, IN | 3 | $1.6M | $716,000 | 0% |
| 8 | Village Bank and Trust Bank · Arlington Heights, IL | 2 | $4.7M | $2,360,000 | 0% |
| 9 | Northwest Bank Bank · Warren, PA | 2 | $714K | $357,000 | 100% |
| 10 | BayFirst National Bank Bank · St. Petersburg, FL | 2 | $300K | $150,000 | 0% |
| 11 | Small Business Growth Certified development company · Springfield, IL | 1 | $5.0M | $5,000,000 | 0% |
| 12 | Merchants Bank of Indiana Bank · Carmel, IN | 1 | $2.1M | $2,132,400 | 0% |
| 13 | Shoreham Bank Bank · Warwick, RI | 1 | $1.5M | $1,465,000 | 100% |
| 14 | Everwise Credit Union Credit union · South Bend, IN | 1 | $900K | $900,000 | 0% |
| 15 | United Midwest Savings Bank Bank · Degraff, OH | 1 | $750K | $750,000 | 100% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Restaurants and hotels | 11 | $270,000 | 1st Source Bank | |
| Other services (repair, personal care) | 8 | $357,000 | Byline Bank | |
| Health care and social assistance | 7 | $640,000 | Old National Bank | |
| Construction | 6 | $364,500 | Regional Development | |
| Manufacturing | 5 | $901,400 | Regional Development | |
| Administrative and support services | 4 | $69,750 | Centier Bank | |
| Retail | 3 | $315,000 | Centier Bank | |
| Transportation and warehousing | 2 | $95,000 | Horizon Bank |