Best SBA Lenders in Evansville, IN (2026)
2025 FOIA data: top lenders, rates & industries for Evansville SBA loans
SBA Loans in Evansville, Indiana
Looking for an SBA loan in Evansville, Indiana? Based on 2025 FOIA data, 34 SBA 7(a) loans were funded in Evansville totaling $23.9M, supporting an estimated 382 jobs. With 14 active lenders competing for business in the Evansville market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in Evansville is $703K at an average rate of 9.31%. The top lender in Evansville is The First National Bank of Carmi, with the most-funded industry being Hotels (except Casino Hotels) and Motels. See all Indiana SBA lenders for statewide rankings.
SBA Loans in Evansville by Business Type
Whether you’re starting a new business in Evansville, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 5% of SBA loans in Evansville (6 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 42% (6 loans) — if you’re looking to buy a business in Evansville, this is a proven use case for SBA financing. Existing businesses make up 53% and typically receive the most favorable terms.
Top SBA Lenders in Evansville, IN (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to Evansville businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | The First National Bank of Carmi | $8.5M | 3 | 10.08% |
| 2 | GBank | $5.0M | 1 | 8.5% |
| 3 | Old National Bank | $3.1M | 4 | 8.69% |
| 4 | Field & Main Bank | $2.3M | 3 | 8.08% |
| 5 | Heritage Federal Credit Union | $1.1M | 9 | 8.36% |
| 6 | CRF Small Business Loan Company, LLC | $995K | 1 | 10.25% |
| 7 | First Federal Savings Bank | $970K | 1 | 10.5% |
| 8 | Northeast Bank | $698K | 3 | 10.42% |
| 9 | U.S. Bank, National Association | $373K | 2 | 10.87% |
| 10 | First Bank of the Lake | $277K | 1 | 10.5% |
The top lenders in Evansville have direct experience with local businesses and understand the Evansville 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 Evansville 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 Evansville
One 5-minute application. 14+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Evansville
These are the industries that received the most SBA 7(a) funding in Evansville 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 |
|---|---|---|
| Hotels (except Casino Hotels) and Motels | 1 | $5.0M |
| Soil Preparation, Planting, and Cultivating | 1 | $3.5M |
| Electrical Contractors | 3 | $2.4M |
| Sporting and Athletic Goods Manufacturing | 1 | $1.8M |
| Flooring Contractors | 2 | $1.7M |
| Specialized Freight (except Used Goods) Trucking, Local | 1 | $970K |
| Limited-Service Restaurants | 2 | $582K |
| All Other Specialty Trade Contractors | 4 | $570K |
| Other Engine Equipment Manufacturing | 1 | $350K |
| Private Mail Centers | 1 | $346K |
Lenders with experience funding your specific industry in Evansville 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 Evansville
Option 1: Apply directly to one of the top Evansville 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 Evansville-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.
