Small business loans in South Bend, IN
Short answer
1st Source Bank made the most SBA loans in South Bend, IN since FY2024, with 17. The median loan was $254,500, and half fell between $50,000 and $681,975. For free help, see the Indiana Small Business Development Center. Source: SBA 7(a) loan data.
- SBA loans since FY2024
- 32
- approved since FY2024
- $28.26M
- median loan
- $254,500
- through SBA Express
- 34.4%
Lenders making SBA loans in South Bend
1st Source Bank alone made 53% of the loans in South Bend.
| Lender | Loans | Share |
|---|---|---|
| 1st Source Bank | 17 | 53.1% |
Share is the percent of all South Bend loans in that period. Each name links to that lender's page for Indiana where one exists.
South Bend has one lender with five or more loans since FY2024. Others had fewer, and the Indiana page counts 171 lenders with at least one approved loan statewide.
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Start my loan requestJanover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.
Local help near South Bend
South Bend borrowers can start with SBA's district office for Indiana, an SBDC or SCORE.
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
- Indiana Small Business Development CenterSmall Business Development Center
- SCORE mentors in IndianaBusiness mentoring
Alongside SBA loans, Indiana runs a loan program. The Indiana page describes it, and the official page is linked here.
Loan counts and sizes in South Bend
South Bend ranks 10th by loans since FY2024 among the 10 Indiana cities with 100 or more SBA loans since FY2020. Nationally it is the 578th busiest of the 580 cities that reach 100 loans.
The 32 loans, 1.1% of the 2,869 in Indiana, were approved for $28.3 million in all. The medianThe middle figure. Half the loans were larger and half were smaller. loan was $254,500, 69% above the national median of $150,300. Half of the loans fell between $50,000 and $681,975. The South Bend median is 70% above the Indiana median of $150,000.
| Measure | South Bend | Indiana | U.S. |
|---|---|---|---|
| Loans | 32 | 2,869 | 162,355 |
| Median loan | $254,500 | $150,000 | $150,300 |
| 25th percentile | $50,000 | $50,000 | $50,000 |
| 75th percentile | $681,975 | $406,200 | $500,000 |
| Via SBA Express | 34.4% | 37.3% | 35.8% |
| Lines of credit | 21.9% | 31.3% | 28.1% |
| Startups | 31.2% | 18.6% | 16.1% |
| Ownership changes | n/a | 12.1% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.0 | 2.25 | 2.75 |
| Charged off | 0.0% | 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.
34.4% of all loans went through SBA Express, close to the national 35.8%. Lines of credit were 21.9% of loans, below the national 28.1%.
Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.
Fiscal years run October to September. The last bar covers nine of its twelve months.
Volume rose 88% from FY2024 (8 loans) to FY2025 (15), the two latest full years. The busiest full year in the file was FY2023, with 24 loans. FY2026 already shows 9 loans through June 30.
Of the 53 loans South Bend borrowers received in FY2020 to FY2022, 0.0% were charged offThe lender wrote the loan off as a loss because it was not being repaid. by June 30, 2026, against 3.6% nationally. That group is small, so treat the rate as rough. Lenders reported 256 jobs supported across the 32 loans since FY2024, about 8.0 per loan. SBA does not audit these estimates.
What businesses in South Bend borrow for
Hotels (except Casino Hotels) and Motels was the largest borrower group in South Bend since FY2020, with 8 loans or 7.3% of the total.
The four largest industries made up 24% of all South Bend loans since FY2020.
| Industry | Loans | Share | U.S. share |
|---|---|---|---|
| Hotels (except Casino Hotels) and Motels | 8 | 7.3% | 1.1% |
| General Freight Trucking, Local | 7 | 6.4% | 1.1% |
| Beauty Salons | 6 | 5.5% | 1.5% |
| Roofing Contractors | 5 | 4.6% | 0.5% |
Share is the percent of all South Bend 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 South Bend
The median South Bend loan was $254,500 with a median term of 10 years.
The median variable-rate loan in South Bend was priced at Prime plus 2.0 percentage points at approval. At today's Prime that spread works out to 9.00%. On $254,500 over 10 years, principal and interest would come to about $3,224 a month. That is arithmetic on past loans, not a rate a lender is offering.
| Loan | Amount | Monthly payment |
|---|---|---|
| 25th percentile loan | $50,000 | $633 |
| Median loan | $254,500 | $3,224 |
| 75th percentile loan | $681,975 | $8,639 |
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 $254,500 is Prime plus 4.5 percentage points, or 11.50% today. The median variable-rate loan here was priced 2.5 points under that ceiling. Source: 13 CFR § 120.214(d)(3); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).
South Bend loans approved since FY2024 had a median starting rate of 9.5% 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 $250,000 loan and SBA Express payment calculator.
SBA 504 loans near South Bend
South Bend has 5 SBA 504 loans since FY2024, with $3.3 million in SBA and CDC dollars.
The median 504 loan in South Bend was $378,000 in SBA and CDC dollars, 8% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.
Business Development Corporation (BDC) is the one Certified Development CompanyA nonprofit that SBA certifies and regulates to arrange 504 loans together with a bank. (CDC) named on five or more loans, 12 since FY2020.
| Certified Development Company | 504 loans |
|---|---|
| Business Development Corporation (BDC) | 12 |
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 capitalMoney for day-to-day costs such as payroll, rent and inventory. Full definition or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a list of Certified Development Companies.
Indiana cities near South Bend
South Bend made up 1.1% of Indiana's SBA loans since FY2024.
South Bend is one of 10 Indiana cities with 100 or more SBA loans since FY2020. The Indiana page covers all 2,869 loans in Indiana. The closest come first, ranked by county and ZIP code on their loans.
Common questions about SBA loans in South Bend
Which lenders make the most SBA loans in South Bend?
1st Source Bank leads with 17 loans in South Bend since FY2024. Only lenders with five or more South Bend loans are counted.
Which industries get SBA loans in South Bend?
Hotels (except Casino Hotels) and Motels leads with 8 loans in South Bend since FY2020. General Freight Trucking, Local (7) and Beauty Salons (6) 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.
Sources
- SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026
- SBA, 504 loans
- SBA, resource partners: SBDCs and SCORE
- SBA Indiana District Office (Indianapolis)
- Indiana Small Business Development Center
- SCORE, Indiana
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)
- sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)
- SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)
- 13 CFR § 120.214(d)(3); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)
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Cite this page: Small business loans in South Bend, IN. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/indiana-small-business-loans/south-bend/
Ask lending partners about a loan in South Bend
Tell us what you need and we refer your request to lending partners.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.