Is Merchants Bank of Indiana a good SBA lender?

Merchants Bank of Indiana has funded 486 SBA loans totaling $523.5M in volume across 37 states, with an average loan size of $1.1M. The lender's default rate is 197.00%. Whether they are the right fit depends on your deal profile — loan size, industry, geography, and borrower credit. PeerSense matches your specific deal to Merchants Bank of Indiana or one of 897+ alternatives based on closing probability + pricing.

What is the average SBA loan size at Merchants Bank of Indiana?

The average SBA loan size at Merchants Bank of Indiana is $1.1M, with a range from $20K to $5.0M. This profile suggests they are best suited for borrowers seeking larger institutional acquisitions and CRE deals.

What states does Merchants Bank of Indiana lend in?

Merchants Bank of Indiana actively lends across 37 states. Their highest-volume state is Indiana. Other top states include Illinois, Texas, Florida. Borrower geography matters: a lender's state penetration affects underwriting familiarity, valuation comps, and turnaround speed.

Does Merchants Bank of Indiana fund franchise loans?

Yes — Merchants Bank of Indiana has funded SBA franchise loans across multiple brands. Their highest-volume franchise concept is The UPS StoreÂ Â (f/k/a Mail Box, followed by Subway, RhinoShield - Dealership/Suppl, National Oil & Gas Company Inc. Lender-franchise familiarity matters: lenders that have closed multiple loans for a brand know the FDD inside-out, which speeds underwriting + reduces re-trade risk.

What industries does Merchants Bank of Indiana prefer?

Merchants Bank of Indiana's highest-volume SBA industry by NAICS code is Limited-Service Restaurants. Other active sectors: Administrative Support, Full-Service Restaurants, Gasoline Stations. Borrower industry matters: matching your deal to a lender with strong recent volume in your NAICS reduces underwriting friction and improves close-rate odds.

How does PeerSense match deals to Merchants Bank of Indiana?

PeerSense matches your specific SBA deal to Merchants Bank of Indiana based on five factors: deal size vs lender's average + range, your industry vs lender's NAICS history, your state vs lender's geographic penetration, your franchise brand (if applicable) vs lender's brand history, and your credit + experience profile vs lender's known underwriting box. We don't sell leads — we curate fit. No retainer; lender pays referral fee at closing.

SBA LenderIndianaActiveLarge Loans

Merchants Bank of Indiana

SBA lender based in Indiana serving 37 states and 48 industries

Quick Answer

Merchants Bank of Indiana has funded 486 SBA loans across 37 states and 48 industries. Their average loan size is $1.1M. Whether they are the right SBA lender for your deal depends on size, industry, geography, and credit profile — PeerSense matches your deal against Merchants Bank of Indiana and 897+ alternatives based on closing probability + pricing.

Geographic Reach

37 States

National coverage

Industry Coverage

48 Industries

Diverse lending portfolio

Lending Activity

Active

Large Loans focus

Top Lending States

Indiana#1

Illinois#2

Texas#3

Florida#4

Wisconsin#5

Tell us about your deal and we'll match you with the right capital source from our network.

Book a Call

Industry Focus Areas

Limited-Service Restaurants

NAICS 722

Administrative Support

NAICS 561

Full-Service Restaurants

Why borrowers choose Merchants Bank of Indiana

Merchants Bank of Indiana is best suited for borrowers seeking larger institutional acquisitions, CRE, and equipment-heavy deals, with an average SBA loan of $1.1M. The lender's deepest industry experience is in Limited-Service Restaurants, and their highest-volume state is Indiana. With 486 SBA loans funded across 37 states, they are one of a small set of true national SBA lenders. Their portfolio default rate is 197.00%. If your deal profile aligns with their underwriting box, this lender is worth a quote — PeerSense matches your specific deal against Merchants Bank of Indiana and 897+ alternatives.

Recent SBA Activity at Merchants Bank of Indiana

Franchise lending: Merchants Bank of Indiana has funded SBA loans for multiple franchise concepts, with the highest volume in The UPS StoreÂ Â (f/k/a Mail Box, Subway, and RhinoShield - Dealership/Suppl. Lender-franchise familiarity reduces underwriting friction: brands the lender already knows clear faster and re-trade less.

Industry concentration: The lender's highest-volume SBA industries are Limited-Service Restaurants, Administrative Support, and Full-Service Restaurants. Borrowers in these NAICS sectors typically see better terms and faster approvals.

Geographic concentration: Top markets are Indiana, Illinois, Texas, Florida, and Wisconsin. Lenders typically underwrite faster in states where they already have closing comps.

SBA Loan Programs Best SBA Franchise Lenders SBA Loan Calculator

Compare Merchants Bank of Indiana to Similar SBA Lenders

Other SBA lenders headquartered in Indiana with similar deal-size profiles. Borrowers should always compare 3–5 lenders before committing.

Indiana · SBA Lender

First Internet Bank of Indiana

2,006 loans$1.3M avg49 states

View profile

Indiana · SBA Lender

First Savings Bank

1,651 loans$645K avg49 states

View profile

Indiana · SBA Lender

First Federal Savings Bank

357 loans$545K avg11 states

View profile

Indiana · SBA Lender

First Farmers Bank & Trust Co.

207 loans$614K avg6 states

View profile

Indiana · SBA Lender

Community First Bank of Indiana

198 loans$457K avg9 states

View profile

Browse all 897+ SBA lenders

Looking for SBA Financing?

Tell us about your deal and we'll match you with the right capital source from our network. PeerSense uses proprietary data on lender track records to find the best fit for your industry, location, and loan size.

Get Matched Free Contact Us

About Merchants Bank of Indiana SBA Lending

Merchants Bank of Indiana is an SBA lender headquartered in Indiana. PeerSense tracks this lender's SBA lending activity, including approval trends, geographic coverage, and industry specializations.

Merchants Bank of Indiana serves borrowers across 37 states and 48 industry sectors, making it a national SBA lender with broad geographic coverage. To find out whether Merchants Bank of Indiana is a good fit for your specific deal, reach out to PeerSense for a free lender match.

PeerSense maintains detailed performance data on hundreds of SBA lenders to help borrowers and brokers identify the right capital source. Rather than spending weeks researching lenders on your own, book a free call and let our team match you with lenders who have a proven track record in your industry and geography.

Back to All Lenders

Merchants Bank of Indiana Get a Quote