Merchants Bank of Indiana
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Merchants Bank of Indiana
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 264 | $222.3M | $842K | 7.3% |
| 561431 | Private Mail Centers | 224 | $102.7M | $458K | 6.2% |
| 721110 | Hotels (except Casino Hotels) and Motels | 192 | $558.6M | $2.9M | 5.3% |
| 457110 | Other | 168 | $260.5M | $1.6M | 4.7% |
| 447110 | Gasoline Stations with Convenience Stores | 160 | $192.9M | $1.2M | 4.4% |
| 722511 | Full-Service Restaurants | 160 | $212.0M | $1.3M | 4.4% |
| 238990 | All Other Specialty Trade Contractors | 96 | $92.5M | $963K | 2.7% |
| 238320 | Painting and Wall Covering Contractors | 88 | $82.2M | $935K | 2.4% |
| 624410 | Child Day Care Services | 88 | $102.9M | $1.2M | 2.4% |
| 812320 | Drycleaning and Laundry Services (except Coin-Operated) | 80 | $45.3M | $567K | 2.2% |
Geographic Distribution
SBA lending activity for Merchants Bank of Indiana by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 832 | $1.19B | 23.1% |
| Indiana (IN) | 1,072 | $958.7M | 29.7% |
| Texas (TX) | 312 | $324.6M | 8.6% |
| Florida (FL) | 240 | $213.9M | 6.7% |
| Wisconsin (WI) | 88 | $189.2M | 2.4% |
| Ohio (OH) | 144 | $167.4M | 4.0% |
| Michigan (MI) | 96 | $126.4M | 2.7% |
| California (CA) | 104 | $97.8M | 2.9% |
| Oklahoma (OK) | 16 | $75.9M | 0.4% |
| Georgia (GA) | 80 | $71.1M | 2.2% |
| Arizona (AZ) | 24 | $50.8M | 0.7% |
| Washington (WA) | 40 | $48.1M | 1.1% |
| Colorado (CO) | 40 | $44.1M | 1.1% |
| Kansas (KS) | 16 | $43.1M | 0.4% |
| Utah (UT) | 32 | $43.1M | 0.9% |
| Kentucky (KY) | 32 | $42.8M | 0.9% |
| Pennsylvania (PA) | 72 | $42.7M | 2.0% |
| Maryland (MD) | 32 | $41.8M | 0.9% |
| Missouri (MO) | 24 | $39.4M | 0.7% |
| North Carolina (NC) | 32 | $32.3M | 0.9% |
| Minnesota (MN) | 40 | $31.9M | 1.1% |
| New Mexico (NM) | 24 | $26.9M | 0.7% |
| Massachusetts (MA) | 32 | $25.0M | 0.9% |
| South Carolina (SC) | 32 | $23.1M | 0.9% |
| Nevada (NV) | 16 | $22.8M | 0.4% |
| Oregon (OR) | 8 | $22.6M | 0.2% |
| New York (NY) | 8 | $20.3M | 0.2% |
| Connecticut (CT) | 32 | $15.3M | 0.9% |
| New Jersey (NJ) | 16 | $9.9M | 0.4% |
| Mississippi (MS) | 8 | $9.3M | 0.2% |
| Tennessee (TN) | 8 | $8.8M | 0.2% |
| Virginia (VA) | 16 | $7.7M | 0.4% |
| Arkansas (AR) | 8 | $4.2M | 0.2% |
| Idaho (ID) | 8 | $4.2M | 0.2% |
| Hawaii (HI) | 8 | $3.6M | 0.2% |
| Iowa (IA) | 8 | $2.8M | 0.2% |
| Alabama (AL) | 8 | $2.4M | 0.2% |
Why Choose Merchants Bank of Indiana?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 3,608 SBA loans approved, totaling $4.08B in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Private Mail Centers, Hotels (except Casino Hotels) and Motels
- ✓Competitive Terms: Average interest rate of 7.84% with flexible term lengths averaging 183 months
- ✓Loan Range: Loan sizes from $20K to $5.0M, with an average of $1.1M
- ✓Nationwide Reach: Active lending in 37 states, with strong presence in IN, IL, TX
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Merchants Bank of Indiana SBA lending
What types of businesses does Merchants Bank of Indiana typically finance?
Merchants Bank of Indiana specializes in SBA 7(a) lending to specific industries including limited-service restaurants, private mail centers, hotels (except casino hotels) and motels, other. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Merchants Bank of Indiana's typical SBA loan terms?
Merchants Bank of Indiana's SBA 7(a) loans typically feature an average interest rate of 7.84% and average term length of 183 months (approximately 15 years). Loan sizes range from $20K to $5.0M, with an average loan size of $1.1M.
Do I need a business valuation for a Merchants Bank of Indiana SBA loan?
Yes, Merchants Bank of Indiana typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Merchants Bank of Indiana compare to other SBA lenders?
Merchants Bank of Indiana has originated 3,608 SBA loans totaling $4.08B since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Merchants Bank of Indiana lend in?
Merchants Bank of Indiana provides SBA 7(a) financing with particularly strong presence in IN, IL, TX, FL, OH. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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