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Small business loans in Indianapolis are available from many SBA lenders. Here are the most active Indy SBA lenders:
Top SBA Lenders in Indianapolis
| Rank | SBA Lender | SBA Lender HQs | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Huntington Bank | Columbus, OH | 223 | $223,618 | 10.2% |
| 2 | Newtek Bank | Miami, FL | 34 | $381,118 | 11.0% |
| 3 | United Midwest Savings Bank | De Graff, OH | 18 | $493,833 | 10.3% |
| 4 | KeyBank | Cleveland, OH | 16 | $749,869 | 10.2% |
| 5 | Merchants Bank of Indiana | Carmel, IN | 16 | $493,438 | 10.0% |
| 6 | Old National Bank | Evansville, IN | 15 | $1,100,940 | 8.4% |
| 7 | Northeast Bank | Lewiston, ME | 15 | $145,893 | 10.9% |
| 8 | Readycap Lending, LLC | Berkeley Heights, NJ | 14 | $275,357 | 12.7% |
| 9 | First Merchants Bank | Indianapolis, IN | 14 | $64,286 | 11.5% |
| 10 | First Internet Bank of Indiana | Fishers, IN | 12 | $1,275,833 | 10.4% |
| 11 | Citizens State Bank of New Castle | New Castle, IN | 12 | $188,875 | 10.4% |
| 12 | Celtic Bank | Salt Lake City, UT | 11 | $495,227 | 10.3% |
| 13 | PNC Bank | Wilmington, DE | 11 | $366,182 | 11.7% |
| 14 | STAR Financial Bank | Fort Wayne, IN | 11 | $268,327 | 8.1% |
| 15 | Bank of George | Las Vegas, NV | 10 | $4,280,400 | 8.4% |
| 16 | Gbank | Las Vegas, NV | 10 | $4,280,400 | 8.4% |
| 17 | Live Oak | Wilmington, NC | 10 | $873,500 | 10.5% |
| 18 | JPMorgan Chase Bank | Columbus, OH | 8 | $195,938 | 12.2% |
| 19 | BayFirst National Bank | Saint Petersburg, FL | 8 | $123,763 | 13.0% |
| 20 | Community First Bank of Indiana | Kokomo, IN | 7 | $294,571 | 9.8% |
Top Industries for SBA Loans in Indianapolis
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 14 | Administrative Management and General Management Consulting Services | 4 | $198,750 | 10.4% |
| 10 | Advertising Agencies | 4 | $533,525 | 9.3% |
| 1 | Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing | 4 | $236,000 | 13.5% |
| 5 | All Other Automotive Repair and Maintenance | 2 | $100,000 | 9.6% |
| 4 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 2 | $2,241,200 | 10.5% |
| 10 | All Other Miscellaneous Retailers | 2 | $724,000 | 10.1% |
| 2 | All Other Miscellaneous Waste Management Services | 2 | $113,300 | 10.5% |
| 10 | All Other Professional, Scientific, and Technical Services | 6 | $201,667 | 9.6% |
| 15 | All Other Specialty Trade Contractors | 9 | $499,456 | 9.6% |
| 2 | All Other Transit and Ground Passenger Transportation | 2 | $42,500 | 10.5% |
| 12 | Architectural Services | 2 | $109,500 | 7.9% |
| 19 | Beauty Salons | 6 | $259,167 | 10.3% |
| 14 | Beer, Wine, and Liquor Retailers | 4 | $1,142,875 | 9.0% |
| 3 | Child and Youth Services | 2 | $49,000 | 9.5% |
| 16 | Child Care Services | 2 | $145,000 | 9.6% |
| 17 | Clothing and Clothing Accessories Retailers | 3 | $109,533 | 10.7% |
| 6 | Coin-Operated Laundries and Drycleaners | 2 | $100,000 | 10.3% |
| 9 | Commercial Printing (except Screen and Books) | 4 | $392,500 | 9.9% |
| 6 | Couriers and Express Delivery Services | 2 | $150,000 | 10.3% |
| 11 | Custom Computer Programming Services | 6 | $725,000 | 10.2% |
| 8 | Drycleaning and Laundry Services (except Coin-Operated) | 2 | $317,450 | 8.3% |
| 17 | Electrical Contractors and Other Wiring Installation Contractors | 5 | $235,980 | 10.6% |
| 1 | Electromedical and Electrotherapeutic Apparatus Manufacturing | 2 | $100,000 | 10.8% |
| 9 | Employment Placement Agencies | 5 | $410,000 | 11.1% |
| 20 | Fitness and Recreational Sports Centers | 2 | $887,550 | 10.6% |
| 4 | Floor Covering Retailers | 2 | $232,500 | 10.0% |
| 3 | Florists | 4 | $171,250 | 10.1% |
| 4 | Funeral Homes and Funeral Services | 2 | $100,550 | 10.0% |
| 3 | Furniture Merchant Wholesalers | 2 | $37,500 | 10.5% |
| 8 | Gasoline Stations with Convenience Stores | 2 | $379,250 | 9.8% |
| 14 | General Freight Trucking, Local | 6 | $175,500 | 9.8% |
| 12 | General Freight Trucking, Long-Distance, Truckload | 27 | $90,181 | 10.2% |
| 4 | Gift, Novelty, and Souvenir Retailers | 2 | $218,600 | 8.2% |
| 17 | Home Health Care Services | 7 | $105,671 | 10.4% |
| 15 | Hotels (except Casino Hotels) and Motels | 16 | $4,048,875 | 8.4% |
| 18 | Insurance Agencies and Brokerages | 15 | $298,567 | 10.4% |
| 10 | Interior Design Services | 4 | $100,125 | 10.8% |
| 14 | Janitorial Services | 2 | $78,250 | 9.5% |
| 13 | Landscaping Services | 9 | $249,022 | 11.2% |
| 1 | Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing | 4 | $60,000 | 10.5% |
| 13 | Marketing Consulting Services | 2 | $1,312,500 | 10.0% |
| 5 | Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers | 2 | $472,000 | 9.8% |
| 4 | Motor Vehicle Towing | 2 | $264,750 | 9.9% |
| 11 | Offices of Certified Public Accountants | 7 | $620,414 | 11.1% |
| 12 | Offices of Chiropractors | 4 | $174,325 | 9.8% |
| 14 | Offices of Dentists | 4 | $615,750 | 10.0% |
| 14 | Offices of Lawyers | 7 | $100,286 | 10.3% |
| 16 | Offices of Mental Health Practitioners (except Physicians) | 7 | $82,857 | 11.4% |
| 10 | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 4 | $13,000 | 9.8% |
| 13 | Other Accounting Services | 3 | $153,333 | 9.9% |
| 5 | Other Building Equipment Contractors | 4 | $68,825 | 10.7% |
| 7 | Other Individual and Family Services | 5 | $100,000 | 10.5% |
| 6 | Other Management Consulting Services | 3 | $200,433 | 11.1% |
| 4 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | 2 | $816,500 | 9.4% |
| 17 | Other Personal Care Services | 3 | $194,500 | 9.9% |
| 3 | Other Services Related to Advertising | 2 | $141,000 | 10.5% |
| 11 | Other Services to Buildings and Dwellings | 2 | $1,226,650 | 8.1% |
| 14 | Painting and Wall Covering Contractors | 2 | $35,000 | 10.7% |
| 12 | Pet Care (except Veterinary) Services | 3 | $116,667 | 10.3% |
| 2 | Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers | 2 | $639,550 | 10.4% |
| 20 | Plumbing, Heating, and Air-Conditioning Contractors | 7 | $433,571 | 10.1% |
| 4 | Portfolio Management and Investment Advice | 2 | $442,500 | 10.7% |
| 8 | Poured Concrete Foundation and Structure Contractors | 2 | $150,000 | 9.8% |
| 20 | Residential Remodelers | 4 | $33,175 | 11.4% |
| 10 | Roofing Contractors | 2 | $100,000 | 10.0% |
| 9 | Services for the Elderly and Persons with Disabilities | 3 | $133,000 | 10.2% |
| 2 | Sewing, Needlework, and Piece Goods Retailers | 2 | $196,000 | 9.5% |
| 5 | Siding Contractors | 2 | $50,000 | 12.7% |
| 7 | Site Preparation Contractors | 2 | $275,000 | 9.0% |
| 20 | Snack and Nonalcoholic Beverage Bars | 5 | $241,200 | 11.1% |
| 2 | Special Needs Transportation | 2 | $191,300 | 9.7% |
| 2 | Specialized Automotive Repair | 6 | $261,350 | 9.5% |
| 8 | Sports and Recreation Instruction | 2 | $379,000 | 9.5% |
| 9 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 3 | $741,600 | 9.7% |
| 11 | Vending Machine Operators | 2 | $125,000 | 10.3% |
| 1 | Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers | 4 | $4,000,000 | 10.5% |
Finding the right SBA lender in Indianapolis can make all the difference in securing the funding your business needs. Whether you’re expanding, purchasing equipment, or managing cash flow, we connect you with top SBA lenders in Indianapolis and nationwide. Click “Connect me to an Indianapolis Lender“ now to find the best financing options for your business!
Top SBA Lenders in Indianapolis | Indianapolis SBA Loans
Introduction
Indianapolis is home to a diverse and growing small business community, with industries ranging from healthcare and manufacturing to technology and retail. However, securing capital to expand and thrive can be a challenge. SBA loans in Indianapolis provide an excellent financing option, offering competitive interest rates, long repayment terms, and accessible funding for businesses that may not qualify for conventional loans. Whether you need funds for expansion, purchasing equipment, or refinancing debt, SBA loans can help fuel your business growth.
SBA Lending in Indianapolis: Last Year Overview
SBA lending continues to support Indianapolis’s small business ecosystem. Here are the key SBA lending statistics from last year:
- Total SBA Loans Issued: $112,564,600
- Number of SBA Loans: 304
- Average Loan Amount: $370,278.29
- Average Interest Rate: 10.66%
- Jobs Supported: 2,734
- SBAlenders.com City Ranking: #23 in the U.S.
These figures highlight the impact of SBA loans in Indianapolis, helping entrepreneurs secure necessary funding while driving job creation and economic expansion.
Why Lenders Choose Us
Lenders choose to work with us because we simplify the SBA loan process, ensuring business owners get the best financing options available. Here’s why lenders trust us:
- Extensive Network of SBA-Approved Lenders: We connect businesses with the top SBA lenders in Indianapolis and nationwide.
- Efficient Loan Application Process: Our system streamlines approvals and minimizes paperwork.
- Expert Business Loan Guidance: Our team helps business owners navigate SBA loan requirements to improve approval odds.
- Tailored Loan Matching: We analyze business needs and match them with the most suitable lenders.
- Proven Success: Thousands of businesses have secured SBA funding through our platform, helping them grow and create jobs.
By working with us, lenders can efficiently support small businesses while ensuring successful loan outcomes.
Overview of SBA Loan Program in Indianapolis
The SBA 7(a) loan program is the most flexible SBA loan option, designed to support various business needs. Here’s what you need to know about SBA loans:
- Loan Size: Up to $5,000,000
- Loan Term: 10 years for non-real estate loans; 25 years for real estate loans
- Interest Rates: Slightly higher than conventional loans, negotiated with lenders within SBA’s maximum interest rate
- Use of Loan Proceeds: Business acquisitions, real estate purchases, equipment financing, debt refinancing, partner buyouts, franchise openings, and working capital
- Down Payment: Typically 10% to 20%
- Credit Score Requirement: 680+ is ideal, with a minimum of 640 for consideration
- Collateral: Not required, but all available collateral must be pledged
SBA loans are designed for businesses that may not qualify under traditional lending standards, offering lower down payments, longer repayment terms, and fewer financial restrictions.
Surrounding Areas
Business owners in nearby areas may also find SBA lending opportunities in these cities:
Anderson, Avon, Brownsburg, Carmel, Fishers, Franklin, Greenwood, Lawrence, Lebanon, Martinsville, McCordsville, Mooresville, Noblesville, Plainfield, Westfield.
Resources for Small Businesses in Indianapolis
Indianapolis business owners have access to valuable resources to support their growth:
- Indianapolis SBA District Office – Provides assistance with SBA loan programs and applications.
- SCORE Indianapolis – Offers free business mentoring and workshops.
- Small Business Development Centers (SBDC) – Provides consulting services for small businesses.
- Indy Chamber of Commerce – Connects business owners with networking and funding opportunities.
Summary
SBA loans continue to be a vital funding tool for small businesses in Indianapolis, offering accessible capital to fuel business growth and job creation. With competitive interest rates, flexible repayment terms, and strong business support, securing an SBA loan could be the key to your business’s success. If you’re looking for the best SBA lenders in Indianapolis, explore your options today and take the next step toward securing the right financing.