STRONG
How competitive are their spreads? Lower = better for you.
GOOD
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
GOOD
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
497
2010–2026
Total Volume
$542M
Gross loan amounts
States Active
37
With recorded loans
Programs
7(a) & 504
497 total segments
Merchants Bank of Indiana has a strong focus on the restaurant and food service industry, with 63 deals in this sector, indicating they understand the unique needs of businesses in this area.
With an average 7(a) spread of P+2.00%, Merchants Bank offers competitive pricing compared to the national median of P+2.75%, making their loans more affordable for borrowers.
The lender's growth trend shows a 6% year-over-year increase in deals, suggesting they are expanding their lending capacity, which may improve your chances of approval.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 20 504 loans, which use fixed SBA debenture rates.
Top 15 of 37 states where Merchants Bank of Indiana has recorded SBA lending activity.
+ 10 more states
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Restaurants & Food Service
Accommodation & Food Services
Administrative & Waste Services
Administrative & Waste Services
Specialty Trade Contractors
Construction
Manufacturing
Manufacturing
Miscellaneous Retail
Retail Trade
Hotels & Accommodation
Accommodation & Food Services
Arts, Entertainment & Recreation
Arts, Entertainment & Recreation
Gas Stations
Retail Trade
+ 7 more
All recorded SBA lending activity for Merchants Bank of Indiana, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Indiana · Specialty Trade Contractors · $150K – $350K | 7(a) | 8 | P+2.75% | $266K | Q1 2025 |
| Illinois · Miscellaneous Retail · $1M – $2M | 7(a) | 7 | P+2.00% | $1.5M | Q3 2025 |
| Indiana · Gas Stations · $500K – $1M | 7(a) | 6 | P+2.00% | $823K | Q4 2021 |
| Indiana · Restaurants & Food Service · $150K – $350K | 7(a) | 6 | P+2.13% | $285K | Q2 2023 |
| Indiana · Restaurants & Food Service · $500K – $1M | 7(a) | 6 | P+1.88% | $738K | Q1 2024 |
| Illinois · Manufacturing · $2M – $5M | 7(a) | 5 | P+1.75% | $3.5M | Q2 2025 |
| Indiana · Manufacturing · $500K – $1M | 7(a) | 5 | P+1.50% | $753K | Q1 2024 |
| Illinois · Restaurants & Food Service · $1M – $2M | 7(a) | 5 | P+2.00% | $1.3M | Q4 2025 |
| Indiana · Hotels & Accommodation · $2M – $5M | 7(a) | 5 | P+1.75% | $2.3M | Q1 2024 |
| Indiana · Restaurants & Food Service · Under $150K | 7(a) | 5 | P+2.00% | $97K | Q1 2024 |
| Indiana · Miscellaneous Retail · $1M – $2M | 7(a) | 5 | P+1.75% | $1.5M | Q3 2023 |
| Indiana · Arts, Entertainment & Recreation · $150K – $350K | 7(a) | 5 | P+2.25% | $282K | Q2 2025 |
| Illinois · Restaurants & Food Service · $500K – $1M | 7(a) | 4 | P+2.13% | $817K | Q2 2025 |
| Wisconsin · Hotels & Accommodation · $2M – $5M | 7(a) | 4 | P+1.25% | $3.6M | Q3 2025 |
| Indiana · Gas Stations · $1M – $2M | 7(a) | 4 | P+2.13% | $1.3M | Q3 2021 |
| Indiana · Restaurants & Food Service · $1M – $2M | 7(a) | 4 | P+1.88% | $1.6M | Q1 2023 |
| Illinois · Hotels & Accommodation · $2M – $5M | 7(a) | 4 | P+1.25% | $3.2M | Q3 2025 |
| Indiana · Administrative & Waste Services · $350K – $500K | 7(a) | 4 | P+2.75% | $451K | Q3 2025 |
| Florida · Administrative & Waste Services · $350K – $500K | 7(a) | 4 | P+2.00% | $423K | Q2 2023 |
| Illinois · Administrative & Waste Services · $1M – $2M | 7(a) | 4 | P+2.13% | $1.3M | Q3 2025 |
| Indiana · Administrative & Waste Services · Under $150K | 7(a) | 4 | P+2.63% | $135K | Q4 2025 |
| Florida · Administrative & Waste Services · $500K – $1M | 7(a) | 3 | P+2.00% | $815K | Q2 2024 |
| Indiana · Miscellaneous Retail · $500K – $1M | 7(a) | 3 | P+1.50% | $912K | Q3 2024 |
| Illinois · Gas Stations · $1M – $2M | 7(a) | 3 | P+2.25% | $1.5M | Q1 2021 |
| Texas · Retail Trade · Under $150K | 7(a) | 3 | P+1.75% | $133K | Q1 2025 |
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