Merchants Bank of Indiana SBA loans in Indiana
Short answer
SBA's loan file shows Merchants Bank of Indiana made 42 SBA loans in Indiana since October 2023. 64.3% went to businesses more than two years old, against 31.4% of its loans nationally. The lender made 1.5% of Indiana's SBA loans, against 0.12% of loans nationwide.
- SBA loans, Oct 2023 to Jun 2026
- 42
- median loan
- $451,850
- dollars approved
- $38.8M
- went to firms over 2 years old
- 64.3%
This site is not Merchants Bank of Indiana
sbaexpress.loans is not Merchants Bank of Indiana, and Merchants Bank of Indiana did not provide, review or pay for this page. Janover Capital LLC runs this site. Every figure on this page comes from SBA's public 7(a) loan file, not from Merchants Bank of Indiana.
A small base
This page rests on 42 loans. Medians and shares on so few loans can swing on a few loans, so use them as a rough guide.
These are the 42 SBA 7(a) loans Merchants Bank of Indiana made in Indiana approved October 2023 to June 2026. Each figure is set against all of its loans in the U.S. over the same period. State is where the business is, not where the lender is based. The file lists loans SBA approved, so it shows what the lender has done and not what it will do for you.
How Merchants Bank of Indiana differs in Indiana
What this means for you. Most of these loans went to businesses with more than two years of history, so an operating record is what Merchants Bank of Indiana usually saw.
Established businesses
64.3% of the loans in Indiana went to businesses more than two years old, against 31.4% of its loans nationally.
Share of the state's loans
Merchants Bank of Indiana made 1.5% of the SBA loans approved in Indiana since October 2023, against 0.12% of loans nationwide. Its share here is 12.4 times its national share.
We compared 7 measures with the national figure for the same period, and these are the 2 that differ clearly. The table compares every measure.
Indiana next to the U.S.
| Measure | Indiana | All its U.S. loans | Reading |
|---|---|---|---|
| Lender's share of all SBA loans | 1.5% | 0.12% | Clearly higher |
| Median loan | $451,850 | $660,000 | No clear gap |
| Middle half of loans | $197,425 to $998,625 | $354,550 to $1,560,300 | – |
| Startups (the loan opens the business) | 16.7% | 19.4% | No clear gap |
| In business 2 years or less | Fewer than 5 | 15.7% | n/a |
| In business more than 2 years | 64.3% | 31.4% | Clearly higher |
| Change of ownership | Fewer than 5 | 33.5% | n/a |
| SBA Express | 26.2% | 14.7% | No clear gap |
| Lines of credit | 26.2% | 14.7% | No clear gap |
| Median term | 10.2 years | 10 years | – |
| Median spread over Prime at approval | 1.75 points over Prime | 2 points over Prime | – |
Clearly higher and clearly lower mark a gap large enough to matter and unlikely to be chance for this many loans. Spread over Prime is the rate at approval minus Prime that day, so it is not today's rate. Rows with a dash are shown for reference.
What Merchants Bank of Indiana lends to in Indiana
The industry below accounts for 5 of the 42 loans approved October 2023 to June 2026, or 11.9%. An industry is listed when it has 5 or more of them, five at most.
| Industry | Loans | Share here | U.S. share |
|---|---|---|---|
| Gasoline Stations with Convenience Stores | 5 | 11.9% | 5.2% |
Share here is the industry's share of the lender's loans in this state. U.S. share is its share of all the lender's loans nationally. Not in top 5 means it is not one of the lender's five most common industries.
Other lenders in Indiana
Other lenders in Indiana with a clear difference from the national pattern, most loans first.
| Lender | Loans since October 2019 |
|---|---|
| The Huntington National Bank | 1,654 |
| KeyBank | 196 |
| First Merchants Bank | 172 |
| Celtic Bank | 62 |
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. A lender's past loans do not describe its current credit policy. Location is the borrower's address in the file. Loans are those approved October 1, 2023 to June 30, 2026. SBA's fiscal year runs October 1 to September 30. Each figure is set against the national figure for the same period. A gap is called clear when it is large enough to matter and unlikely to be chance for this many loans. A comparison with no clear gap in the loans is not published. Express counts SBA Express and Export Express loans. Lines of credit are loans SBA's file flags as revolving. How we build these pages.
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Cite this page: Merchants Bank of Indiana SBA loans in Indiana. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/sba-express-lenders/merchants-bank-of-indiana/indiana/
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