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Merchants Bank of Indiana
CARMEL, IN · Active Lender · National rank #101
Merchants Bank of Indiana approved 90 SBA 7(a) loans in FY2025, ranking #101 nationally by volume, with an average loan size of about $1.35 million and its most active lending in Illinois, Indiana, and Texas.
Merchants Bank of Indiana is an SBA 7(a) lender headquartered in Carmel, IN. According to FY2025 SBA 7(a) lender activity data, the bank approved 90 SBA 7(a) loans totaling $121,577,300 in approved dollars, with $90,559,560 in SBA-guaranteed dollars. The average loan size across these approved loans was $1,350,859, indicating a portfolio weighted toward larger commercial transactions compared to many community-bank SBA lenders.
Nationally, Merchants Bank of Indiana ranked #101 by SBA 7(a) loan volume in FY2025. While based in Indiana, the bank's lending activity in this dataset extended well beyond its home state, with the most loans recorded in Illinois (23 loans), followed by Indiana (14 loans) and Texas (8 loans). Additional states served in FY2025 SBA activity data include California, Florida, Wisconsin, Michigan, Maryland, Ohio, New Mexico, Colorado, North Carolina, Oklahoma, Arizona, Kansas, Massachusetts, Washington, Idaho, Kentucky, Georgia, Connecticut, South Carolina, and Iowa — a total of 23 states served.
This distribution suggests a lending footprint that reaches beyond a purely regional base, though loan counts in most states outside the top three are limited. All figures cited here reflect FY2025 SBA 7(a) lender activity data only; no interest rates, fees, or approval likelihood are represented or implied by this profile.
Where Merchants Bank of Indiana lends
| State | Loans | Dollars |
|---|---|---|
| Illinois | 23 | $37,689,200 |
| Wisconsin | 4 | $12,844,100 |
| Texas | 8 | $9,714,600 |
| Indiana | 14 | $9,469,100 |
| Michigan | 4 | $8,193,200 |
| California | 7 | $7,287,600 |
| Florida | 6 | $4,776,400 |
| Maryland | 3 | $4,599,500 |
| Oklahoma | 1 | $4,490,800 |
| Arizona | 1 | $4,395,400 |
| Ohio | 3 | $3,859,600 |
| New Mexico | 3 | $3,367,500 |
| Colorado | 2 | $2,735,500 |
| Kansas | 1 | $2,566,700 |
| North Carolina | 2 | $1,602,700 |
Questions people ask
Is Merchants Bank of Indiana an SBA lender?
Yes, it is an SBA 7(a) lender, according to FY2025 SBA 7(a) lender activity data.
How many SBA 7(a) loans did Merchants Bank of Indiana approve in FY2025?
It approved 90 SBA 7(a) loans in FY2025.
What was the total dollar volume of these loans?
The approved loans totaled $121,577,300, with $90,559,560 in SBA-guaranteed dollars.
What is Merchants Bank of Indiana's average SBA loan size?
The average loan size in FY2025 was $1,350,859.
Where is Merchants Bank of Indiana headquartered?
It is headquartered in Carmel, IN.
Where is Merchants Bank of Indiana most active with SBA lending?
Its top states by loan count were Illinois (23 loans), Indiana (14 loans), and Texas (8 loans).
Is Merchants Bank of Indiana a national or regional SBA lender?
It served borrowers across 23 states in FY2025, suggesting a lending footprint that extends beyond its home region, though its rank of #101 nationally indicates moderate volume.
How does Merchants Bank of Indiana rank by SBA loan volume?
It ranked #101 nationally among SBA 7(a) lenders in FY2025 based on loan volume.
Does Merchants Bank of Indiana only lend in Indiana?
No, FY2025 data shows more loans in Illinois than in its home state of Indiana.
Source: SBA 7(a) Lender Activity Report, FY2025 (data.sba.gov). GetFundedUSA is independent and not affiliated with Merchants Bank of Indiana; loan terms, rates and eligibility are set by the lender and the SBA, not GetFundedUSA.