SBA lender profile
Merchants Bank of Indiana
Merchants Bank of Indiana appears in the public SBA loan data with 497 funded 7(a) loans since FY2010, totaling $544.6M, an average of $1.1M per loan, and an estimated 7,171 jobs supported. Its SBA lending concentrates in Illinois and the Accommodation and Food Services sector. Across its 7(a) loans, the charge-off rate is 0.6%. 81.3% of its 7(a) loans were processed under delegated PLP authority.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026 (as of 2026-03-31)
- Track record 91
- Scale 87
- Activity 94
- Consistency 65
A relative profile signal from the public SBA record, not a prediction of approval or a guarantee.
Is Merchants Bank of Indiana the right lender for you?
Lenders fund what they know. Merchants Bank of Indiana's SBA lending concentrates in Illinois (110 loans) and Accommodation and Food Services (87 loans), at an average loan of $1.1M. If your business does not look like that, a different SBA lender is likely the better fit.
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Bank profile
via FDIC- Total assets
- $20.3B
- Headquarters
- Carmel, IN
- FDIC cert
- #8056
- Status
- Active
Where Merchants Bank of Indiana lends
Top states by funded SBA volume.
Metro areas where Merchants Bank of Indiana funds
What Merchants Bank of Indiana funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Accommodation and Food Services | 87 | $134.9M |
| Retail Trade | 81 | $102.8M |
| Other Services | 52 | $47.6M |
| Construction | 51 | $47.3M |
| Manufacturing | 36 | $40.5M |
| Administrative and Support | 56 | $34.1M |
Merchants Bank of Indiana SBA lending by year
Funded SBA volume by approval fiscal year (FY2010–2026).
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2010 | 3 | $2.1M |
| 2015 | 2 | $757K |
| 2016 | 5 | $2.4M |
| 2017 | 10 | $6.2M |
| 2018 | 7 | $1.5M |
| 2019 | 6 | $897K |
| 2020 | 37 | $37.4M |
| 2021 | 111 | $140.9M |
| 2022 | 61 | $59.3M |
| 2023 | 73 | $75.7M |
| 2024 | 71 | $65.6M |
| 2025 | 90 | $121.6M |
| 2026 | 21 | $30.3M |
Related SBA lenders
Other lenders active in Illinois or in Accommodation and Food Services.
Comparing lenders? See how to choose an SBA lender by track record.
Merchants Bank of Indiana: frequently asked questions
Does Merchants Bank of Indiana offer SBA loans?
Yes. Merchants Bank of Indiana appears in the public SBA data with 497 funded SBA 7(a) loans totaling $544.6M.
How many SBA loans has Merchants Bank of Indiana made?
Merchants Bank of Indiana is associated with 497 SBA 7(a) loans totaling $544.6M in the public SBA data (as of 2026-03-31).
What is Merchants Bank of Indiana's SBA charge-off rate?
About 0.6% of Merchants Bank of Indiana's 7(a) loans in the data have been charged off. A lower rate is generally a better sign, but it is not a lifetime default rate; see our methodology for how it is calculated.
Where does Merchants Bank of Indiana do most of its SBA lending?
Merchants Bank of Indiana's SBA lending in the data is most concentrated in Illinois, and by industry in Accommodation and Food Services.
Is Merchants Bank of Indiana an SBA Preferred Lender (PLP)?
The loan record shows Merchants Bank of Indiana operating under PLP delegated authority: 404 of its 7(a) loans (81.3%) were processed through the Preferred Lenders Program, including 148 in FY2024–2026. The SBA grants and renews PLP status and publishes no public roster, so this is the processing record, not a certification.
This page is the public view of your institution's SBA record: rank, trajectory, and market position, computed from the complete public 7(a)/504 dataset. The full competitive picture (your share against named competitors by state and industry, and the growing markets you're absent from) is available to your team.
Request your institution's benchmarking →Mario Bailey. (2026). Merchants Bank of Indiana SBA lending profile. SBA Loan Index. https://sbaloanindex.com/lenders/merchants-bank-of-indiana/
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