States Served
Top Industries Financed
- Limited-Service Restaurants
- Private Mail Centers
- Hotels (except Casino Hotels) and Motels
- Gasoline Stations with Convenience Stores
- Full-Service Restaurants
Quick Summary
Merchants Bank of Indiana is an SBA-approved lender headquartered in CARMEL, Indiana. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 451 SBA 7(a) loans totaling $510.5M, with an average loan size of $1.1M. They serve businesses across 37 states.
About Merchants Bank of Indiana
Merchants Bank of Indiana is an SBA-approved lender headquartered in CARMEL, Indiana. Since 2020, they have approved 451 SBA 7(a) loans totaling $510.5M, with an average loan size of $1.1M. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 37 states.
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Frequently Asked Questions
Is Merchants Bank of Indiana an SBA Preferred Lender?
Yes, Merchants Bank of Indiana is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Merchants Bank of Indiana approved?
According to SBA FOIA public records, Merchants Bank of Indiana has approved 451 SBA 7(a) loans totaling $510.5M since 2020. Their average loan size is $1.1M.
What states does Merchants Bank of Indiana serve?
Merchants Bank of Indiana serves businesses in 37 states: Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Maryland, Michigan, Minnesota, Missouri, Mississippi, North Carolina, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.
How do I apply for an SBA loan with Merchants Bank of Indiana?
To apply for an SBA 7(a) loan with Merchants Bank of Indiana, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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