BlogRankingStateBest Indiana SBA Lenders & Rates of 2026

Best Indiana SBA Lenders & Rates of 2026

February 2, 2026
Ranking, State
1 min read

$532.9M
Total Funded

1,073
Loans Approved

$497K
Avg Loan Size

9.77%
Avg Interest Rate

117
Active Lenders

SBA Loans in Indiana

Indiana businesses received $532.9M in SBA 7(a) loan approvals across 1,073 businesses in 2025. With 117 active SBA lenders competing for business in Indiana, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in Indiana is $497K, with rates averaging 9.77%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Top SBA Lenders in Indiana (2025)

Based on official SBA data analyzed by GoSBA Loans, these are the banks that funded the most SBA 7(a) loans to Indiana businesses:

Rank Lender Volume Loans Avg Rate
1 The Huntington National Bank $45.5M 181 9.66%
2 First Internet Bank of Indiana $40.4M 28 9.63%
3 GBank $31.4M 9 8.44%
4 1st Source Bank $22.9M 66 9.36%
5 Live Oak Banking Company $21.0M 16 9.23%
6 Old National Bank $16.5M 24 8.06%
7 Shoreham Bank $16.3M 7 9.54%
8 KeyBank National Association $13.8M 21 10.17%
9 Millennium Bank $12.5M 3 9.00%
10 Newtek Bank, National Association $12.4M 34 10.95%
11 Horizon Bank $12.3M 25 8.34%
12 Citizens State Bank of New Castle $12.1M 23 9.04%
13 Northeast Bank $11.4M 70 10.77%
14 Northwest Bank $11.3M 7 9.86%
15 Readycap Lending, LLC $11.0M 30 12.63%
16 Centier Bank $10.5M 40 9.30%
17 Byline Bank $10.5M 9 10.11%
18 Community First Bank of Indiana $10.2M 11 9.41%
19 United Midwest Savings Bank National Association $9.9M 20 9.95%
20 Merchants Bank of Indiana $9.8M 12 9.50%

🤝 How to Get an SBA Loan in Indiana

Many top SBA lenders work primarily through approved SBA loan brokers. This is good news for borrowers:

  • Better Match: Get matched with the right lender for your situation
  • Negotiating Power: Broker relationships can result in better rates
  • Time Savings: One application goes to multiple lenders
  • Expert Guidance: Maximize your approval chances

GoSBA Loans works with lenders across Indiana and can help you access the best loan programs. Our service is completely free to borrowers.

📞 Get Matched with Indiana SBA Lenders

Ready to apply for an SBA loan in Indiana? Our team can help you get matched with the right lender and program for your business.

Looking for SBA lenders in other states? GoSBA Loans works with 75+ SBA lenders nationwide. Contact us to get matched with the best lender for your specific business needs.

http://gosbaloans.com

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.

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