SBA lending by metro area
SBA lenders in Elkhart, IN
Which lenders fund Elkhart-area businesses, how much, and how the market compares with Indiana: SBA 7(a) and 504 loans, FY2010–2026.
By Mario Bailey · SBA FOIA data as of 2026-03-31
Top SBA lenders in the Elkhart area
Ranked by SBA volume funded to businesses located in the Elkhart metropolitan area, wherever the lender is headquartered. National SBA lenders that fund here are included.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | Business Development Corporation (BDC) | 89 | $60.1M | $676K | not reported |
| 2 | 1st Source Bank | 216 | $45.1M | $209K | 0.46% |
| 3 | First State Bank of Middlebury | 27 | $24.9M | $923K | 0.00% |
| 4 | The Huntington National Bank | 36 | $21.3M | $592K | 0.00% |
| 5 | KeyBank National Association | 49 | $18.9M | $386K | 4.08% |
| 6 | Live Oak Banking Company | 6 | $15.7M | $2.6M | not reported |
| 7 | GBank | 6 | $14.6M | $2.4M | not reported |
| 8 | Old National Bank | 14 | $14.3M | $1.0M | not reported |
| 9 | Millennium Bank | 7 | $13.0M | $1.9M | not reported |
| 10 | Byline Bank | 7 | $10.2M | $1.4M | not reported |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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How Elkhart compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Elkhart area | $180K ▲ 20.0% | 15.6% ▲ 3.9 pts |
| Indiana | $150K | 11.7% |
| United States | $179K | 11.2% |
What gets funded in Elkhart
| Industry | Loans | Total funded |
|---|---|---|
| Manufacturing | 163 | $111.1M |
| Accommodation and Food Services | 73 | $75.1M |
| Retail Trade | 96 | $43.3M |
| Wholesale Trade | 52 | $22.3M |
| Construction | 48 | $18.6M |
| Other Services | 50 | $18.1M |
| Health Care and Social Assistance | 45 | $12.7M |
| Real Estate | 21 | $12.4M |
SBA lending in Elkhart by year
Geography, precisely
"Elkhart area" here means the Elkhart-Goshen, IN metropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Elkhart County, IN. Loans are placed by the SBA's recorded project county, which can differ from a borrower's mailing address. Counts are SBA 7(a) and 504 funded loans, FY2010–2026, as of 2026-03-31. See the methodology.