Best SBA Lenders in South Bend, IN (2026)
2025 FOIA data: top lenders, rates & industries for South Bend SBA loans
SBA Loans in South Bend, Indiana
Looking for an SBA loan in South Bend, Indiana? Based on 2025 FOIA data, 17 SBA 7(a) loans were funded in South Bend totaling $14.1M, supporting an estimated 156 jobs. With 7 active lenders competing for business in the South Bend market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in South Bend is $829K at an average rate of 9.59%. The top lender in South Bend is 1st Source Bank, with the most-funded industry being Machine Shops. See all Indiana SBA lenders for statewide rankings.
SBA Loans in South Bend by Business Type
Whether you’re starting a new business in South Bend, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 56% of SBA loans in South Bend (7 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 0% (0 loans) — if you’re looking to buy a business in South Bend, this is a proven use case for SBA financing. Existing businesses make up 43% and typically receive the most favorable terms.
Top SBA Lenders in South Bend, IN (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to South Bend businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | 1st Source Bank | $8.1M | 11 | 9.43% |
| 2 | Port 51 Lending LLC | $5.0M | 1 | 8.75% |
| 3 | Bank Five Nine | $325K | 1 | 8.5% |
| 4 | Horizon Bank | $250K | 1 | 8% |
| 5 | City National Bank of Florida | $215K | 1 | 10.75% |
| 6 | Readycap Lending, LLC | $200K | 1 | 13.5% |
| 7 | The Huntington National Bank | $30K | 1 | 9.75% |
The top lenders in South Bend have direct experience with local businesses and understand the South Bend market — commercial real estate values, local industry dynamics, and regional economic conditions. Pay attention to the “Avg Rate” column, as rates vary significantly between lenders. A 0.5-1.0% rate difference on a $500K loan translates to $15,000-$30,000 in savings over the life of the loan.
Don’t limit your search to banks listed above — many national SBA lenders also fund loans in South Bend and may offer better rates. An SBA loan broker like GoSBA gives you access to both local and national lenders with one application.
Get Matched with the Best SBA Lender in South Bend
One 5-minute application. 7+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in South Bend
These are the industries that received the most SBA 7(a) funding in South Bend in 2025. If your business is in one of these sectors, lenders are already familiar with your business model and may offer faster approvals:
| Industry | Loans | Volume |
|---|---|---|
| Machine Shops | 1 | $5.0M |
| Hotels (except Casino Hotels) and Motels | 1 | $5.0M |
| Breweries | 2 | $1.3M |
| Limited-Service Restaurants | 1 | $458K |
| Drinking Places (Alcoholic Beverages) | 1 | $270K |
| Surveying and Mapping (except Geophysical) Services | 1 | $250K |
| Specialized Freight (except Used Goods) Trucking, Local | 1 | $239K |
| Other Commercial Equipment Merchant Wholesalers | 1 | $215K |
| Home Health Care Services | 1 | $200K |
| All Other Specialty Trade Contractors | 2 | $92K |
Lenders with experience funding your specific industry in South Bend understand the local competitive landscape, typical revenue ranges, and seasonal patterns. This familiarity often translates to faster underwriting and more competitive terms. If your industry doesn’t appear above, SBA loans are available for nearly every legal business type — an SBA broker can match you with lenders who specialize in your sector.
How to Get an SBA Loan in South Bend
Option 1: Apply directly to one of the top South Bend lenders listed above. You’ll receive a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple South Bend-active lenders and national SBA lenders simultaneously. More offers means better rates, faster approvals, and zero cost to you — lenders pay the broker fee.
Frequently Asked Questions
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Data from SBA 7(a) FOIA records, Calendar Year 2025. Visit sba.gov for official info.
