# Small business loans in Indianapolis, IN

**Short answer:** The most active SBA lenders in Indianapolis, IN since FY2024 are The Huntington National Bank (245 loans) and Old National Bank (19). The median loan was $140,000, and half fell between $50,000 and $350,000. For free help, see the Indiana Small Business Development Center. Source: SBA 7(a) loan data.

Canonical page: https://www.sbaexpress.loans/indiana-small-business-loans/indianapolis/
Data as of: 2026-06-30

## Lenders making SBA loans in Indianapolis

The Huntington National Bank made the most loans in Indianapolis, 41% of the total. The five largest lenders together made 52%.

**Lenders with five or more SBA loans in Indianapolis, IN, FY2024 to June 2026**

| Lender | Loans | Share |
| --- | --- | --- |
| [The Huntington National Bank](https://www.sbaexpress.loans/sba-express-lenders/the-huntington-national-bank/indiana/) | 245 | 40.8% |
| [Old National Bank](https://www.sbaexpress.loans/sba-express-lenders/old-national-bank/) | 19 | 3.2% |
| [KeyBank](https://www.sbaexpress.loans/sba-express-lenders/keybank/indiana/) | 16 | 2.7% |
| [Newtek Bank](https://www.sbaexpress.loans/sba-express-lenders/newtek-bank/) | 16 | 2.7% |
| [Northeast Bank](https://www.sbaexpress.loans/sba-express-lenders/northeast-bank/) | 16 | 2.7% |

Share is the percent of all Indianapolis loans in that period. Each name links to that lender's page for Indiana where one exists.

## Local help near Indianapolis

Indianapolis borrowers can start with SBA's district office for Indiana, an SBDC or SCORE.

28% of Indianapolis borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.

SBA has one district office for Indiana. Its page points to state and federal resources and to lenders in the area. The Indiana Small Business Development Center gives free counseling across Indiana.

- [SBA Indiana District Office (Indianapolis): SBA district office](https://www.sba.gov/district/indiana)
- [Indiana Small Business Development Center: Small Business Development Center](https://isbdc.org/)
- [SCORE mentors in Indiana: Business mentoring](https://www.score.org/in/)

Alongside SBA loans, Indiana runs a loan program. The [Indiana page](https://www.sbaexpress.loans/indiana-small-business-loans/#loan-programs-in-indiana) describes it, and the official page is linked here.

- [Legend Fund](https://www.iedc.in.gov/ssbci/start-today)

## Loan counts and sizes in Indianapolis

Indianapolis ranks 1st by loans since FY2024 among the 10 Indiana cities with 100 or more SBA loans since FY2020. Nationally it is the 18th busiest of the 580 cities that reach 100 loans.

The 601 loans, 20.9% of the 2,869 in Indiana, were approved for $256.5 million in all. The median loan was $140,000, 7% below the national median of $150,300. Half of the loans fell between $50,000 and $350,000. The Indianapolis median is 7% below the Indiana median of $150,000.

**Indianapolis, IN compared with Indiana and the nation, loans from FY2024 to June 2026**

| Measure | Indianapolis | Indiana | U.S. |
| --- | --- | --- | --- |
| Loans | 601 | 2,869 | 162,355 |
| Median loan | $140,000 | $150,000 | $150,300 |
| 25th percentile | $50,000 | $50,000 | $50,000 |
| 75th percentile | $350,000 | $406,200 | $500,000 |
| Via SBA Express | 37.8% | 37.3% | 35.8% |
| Lines of credit | 35.3% | 31.3% | 28.1% |
| Startups | 16.5% | 18.6% | 16.1% |
| Ownership changes | 11.6% | 12.1% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.25 | 2.25 | 2.75 |
| Charged off | 3.2% | 2.0% | 3.6% |

A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.

83% of the loans were $500,000 or less, the size SBA Express covers. 37.8% of all loans went through SBA Express, close to the national 35.8%. Lines of credit were 35.3% of loans, above the national 28.1%.

SBA loans in Indianapolis, IN by size, FY2024 to June 2026

- $50,000 or less (28%): 170
- $50,001 to $150,000 (31%): 186
- $150,001 to $350,000 (17%): 103
- $350,001 to $500,000 (6%): 37
- $500,001 to $1,000,000 (7%): 40
- $1,000,001 to $2,000,000 (5%): 31
- Over $2,000,000 (6%): 34

Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.

By business age, 60.6% of loans went to businesses more than two years old and 11.1% to businesses two years old or younger. Startups received 16.5% and changes of ownership 11.6%.

SBA loans in Indianapolis, IN by fiscal year

- FY2020: 189
- FY2021: 215
- FY2022: 196
- FY2023: 249
- FY2024: 277
- FY2025: 199
- FY2026 (through June 30): 125

Fiscal years run October to September. The last bar covers nine of its twelve months.

Volume fell 28% from FY2024 (277 loans) to FY2025 (199), the two latest full years. The busiest full year in the file was FY2024, with 277 loans. FY2026 already shows 125 loans through June 30.

Of the 600 loans Indianapolis borrowers received in FY2020 to FY2022, 3.2% were charged off by June 30, 2026, against 3.6% nationally. Lenders reported 5,289 jobs supported across the 601 loans since FY2024, about 8.8 per loan. SBA does not audit these estimates.

## What businesses in Indianapolis borrow for

General Freight Trucking, Long-Distance, Truckload was the largest borrower group in Indianapolis, with 39 loans or 6.5% of the total.

The five largest industries made up 18% of all Indianapolis loans. General Freight Trucking, Long-Distance, Truckload stands out: its 39 loans are 6.5% of Indianapolis loans, against 1.3% nationally, 5.0 times its national share.

**Industries with the most SBA loans in Indianapolis, IN, FY2024 to June 2026**

| Industry | Loans | Share | U.S. share |
| --- | --- | --- | --- |
| [General Freight Trucking, Long-Distance, Truckload](https://www.sbaexpress.loans/industries/general-freight-trucking-long-distance-truckload/indiana/) | 39 | 6.5% | 1.3% |
| [Full-Service Restaurants](https://www.sbaexpress.loans/industries/full-service-restaurants/) | 23 | 3.8% | 4.6% |
| [Limited-Service Restaurants](https://www.sbaexpress.loans/industries/limited-service-restaurants/) | 17 | 2.8% | 3.3% |
| [Home Health Care Services](https://www.sbaexpress.loans/industries/home-health-care-services/indiana/) | 16 | 2.7% | 1.0% |
| [All Other Specialty Trade Contractors](https://www.sbaexpress.loans/industries/all-other-specialty-trade-contractors/) | 14 | 2.3% | 1.7% |

Share is the percent of all Indianapolis loans in that period. Industry is the NAICS code on each loan. A name links to the Indiana page for that industry where one exists.

## A typical loan payment in Indianapolis

The median Indianapolis loan was $140,000 with a median term of 10 years.

The median variable-rate loan in Indianapolis was priced at Prime plus 2.25 percentage points at approval. At today's Prime that spread works out to 9.25%. On $140,000 over 10 years, principal and interest would come to about $1,792 a month. That is arithmetic on past loans, not a rate a lender is offering.

**Payment at today's rate on three Indianapolis loan sizes over 10 years**

| Loan | Amount | Monthly payment |
| --- | --- | --- |
| 25th percentile loan | $50,000 | $640 |
| Median loan | $140,000 | $1,792 |
| 75th percentile loan | $350,000 | $4,481 |

Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.

SBA's rate ceiling for this loan size

SBA's maximum for a loan of $140,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.8 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).

Indianapolis loans approved since FY2024 had a median starting rate of 10.5% at approval, against 10.25% nationally. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.

Run your own numbers: [payments on a $150,000 loan](https://www.sbaexpress.loans/loan-amounts/150000-business-loan/) and [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

## SBA 504 loans near Indianapolis

Indianapolis has 51 SBA 504 loans since FY2024, with $59.9 million in SBA and CDC dollars.

The median 504 loan in Indianapolis was $739,000 in SBA and CDC dollars, 15% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.

Indiana Statewide Certified Development Corporation is the Certified Development Company (CDC) named on the most loans since FY2024, with 30. Premier Capital Corporation follows with 19. The two CDCs listed are named on 49 loans between them.

**CDCs named on five or more 504 loans in Indianapolis, FY2024 to June 2026**

| Certified Development Company | 504 loans |
| --- | --- |
| Indiana Statewide Certified Development Corporation | 30 |
| Premier Capital Corporation | 19 |

How a 504 loan is split

A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capital or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a [list of Certified Development Companies](https://www.sba.gov/loans/504-loans/list-of-certified-development-companies/).

## Indiana cities near Indianapolis

Indianapolis made up 20.9% of Indiana's SBA loans since FY2024.

Indianapolis is one of 10 Indiana cities with 100 or more SBA loans since FY2020. The [Indiana page](https://www.sbaexpress.loans/indiana-small-business-loans/) covers all 2,869 loans in Indiana. The closest come first, ranked by county and ZIP code on their loans.

- [Greenwood: 70 loans, median $100,000](https://www.sbaexpress.loans/indiana-small-business-loans/greenwood/)
- [Avon: 41 loans, median $108,000](https://www.sbaexpress.loans/indiana-small-business-loans/avon/)
- [Noblesville: 66 loans, median $165,000](https://www.sbaexpress.loans/indiana-small-business-loans/noblesville/)
- [Fishers: 110 loans, median $150,000](https://www.sbaexpress.loans/indiana-small-business-loans/fishers/)
- [Carmel: 113 loans, median $300,000](https://www.sbaexpress.loans/indiana-small-business-loans/carmel/)
- [South Bend: 32 loans, median $254,500](https://www.sbaexpress.loans/indiana-small-business-loans/south-bend/)
- [Fort Wayne: 148 loans, median $175,000](https://www.sbaexpress.loans/indiana-small-business-loans/fort-wayne/)
- [Evansville: 92 loans, median $196,500](https://www.sbaexpress.loans/indiana-small-business-loans/evansville/)

## Common questions about SBA loans in Indianapolis

### Which lenders make the most SBA loans in Indianapolis?

The Huntington National Bank leads with 245 loans in Indianapolis since FY2024. Old National Bank (19) and KeyBank (16) follow. Only lenders with five or more Indianapolis loans are counted.

### Which industries get SBA loans in Indianapolis?

General Freight Trucking, Long-Distance, Truckload leads with 39 loans in Indianapolis since FY2024. Full-Service Restaurants (23) and Limited-Service Restaurants (17) follow.

How to read this

Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. [How we build these pages](https://www.sbaexpress.loans/method/).

## Sources

- [SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026](https://data.sba.gov/dataset/7a-504-foia)
- [SBA, 504 loans](https://www.sba.gov/loans/504-loans/)
- [SBA, resource partners: SBDCs and SCORE](https://www.sba.gov/counseling/local-assistance/resource-partners/)
- [SBA Indiana District Office (Indianapolis)](https://www.sba.gov/district/indiana)
- [Indiana Small Business Development Center](https://isbdc.org/)
- [SCORE, Indiana](https://www.score.org/in/)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)](https://www.sba.gov/loans/504-loans/)
- [SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)](https://www.ecfr.gov/current/title-13/section-120.214)