62
Merchants Bank of Indiana
National Rank by SBA 7(a) Loan Volume (2025)
$113.6M
Total Volume
81
Loans Funded
$1.4M
Avg Loan Size
9.40%
Avg Interest Rate
About Merchants Bank of Indiana
In 2025, Merchants Bank of Indiana funded $113.6M in SBA 7(a) loans across 81 businesses nationwide, making them the #62 SBA lender in the United States by loan volume.
💡 Key Insight: Merchants Bank of Indiana’s average loan size is $1.4M at an average rate of 9.40%. Working with an SBA loan broker can help you access this lender and potentially negotiate better terms.
Top States for Merchants Bank of Indiana SBA Loans
Merchants Bank of Indiana is most active in Illinois, with lending activity across multiple states. Here’s where they funded the most SBA 7(a) loans in 2025:
| State | Loans | Volume |
|---|---|---|
| Illinois | 20 | $35.3M |
| Wisconsin | 3 | $12.5M |
| Indiana | 12 | $9.8M |
| Texas | 5 | $7.7M |
| Michigan | 3 | $7.3M |
| Florida | 6 | $6.2M |
| California | 6 | $5.1M |
| Maryland | 3 | $4.6M |
| Oklahoma | 1 | $4.5M |
| Ohio | 3 | $3.9M |
Top Industries Funded by Merchants Bank of Indiana
Here are the industries where Merchants Bank of Indiana funded the most SBA 7(a) loans in 2025:
| Industry | Loans | Volume |
|---|---|---|
| Hotels (except Casino Hotels) and Motels | 6 | $22.0M |
| Full-Service Restaurants | 5 | $9.3M |
| Limited-Service Restaurants | 5 | $6.3M |
| All Other Specialty Trade Contractors | 5 | $6.1M |
| Caterers | 1 | $5.0M |
| Farm Supplies Merchant Wholesalers | 2 | $4.7M |
| Electrical Contractors | 3 | $4.2M |
| Elementary and Secondary Schools | 1 | $4.2M |
| Machine Shops | 2 | $3.6M |
| Coin-Operated Laundries and Drycleaners | 2 | $3.3M |
How to Get an SBA Loan Through Merchants Bank of Indiana
Applying for an SBA 7(a) loan through Merchants Bank of Indiana typically involves:
- Pre-qualification — Determine if your business meets SBA eligibility requirements
- Documentation — Gather financial statements, tax returns, and a business plan
- Application — Submit through Merchants Bank of Indiana or work with an SBA loan broker for faster processing
- Underwriting — The bank reviews your application and makes a decision
- Closing — Finalize terms and receive your funding
Ready to Apply for an SBA Loan?
Our brokers can help you access Merchants Bank of Indiana and 2,000+ other SBA lenders to find the best rates and terms for your business.
