First Internet Bank of Indiana
First FDIC-insured bank to operate completely online, offering better rates and lower fees with 3% cash back on gas and 1% on all purchases. Expanding services in small business, commercial real estate, and government-guaranteed lending.
VP, Senior Business Development Officer
VP - Senior Business Development Officer
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (350 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
First Internet Bank of Indiana ranks #3 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of First Internet Bank of Indiana’s 7(a) acquisition lending falls in the $1M-$2M range: 95 loans, 27.1% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 34 | 9.7% | |
| $500K-$1M | 85 | 24.3% | |
| $1M-$2M | 95 | 27.1% | |
| $2M-$3M | 58 | 16.6% | |
| $3M-$4M | 42 | 12.0% | |
| $4M-$5M | 36 | 10.3% |
Industries with highest loan volume
Full-Service Restaurants
20
loans
$1.8M
avg. amount
All Other Specialty Trade Contractors
13
loans
$1.8M
avg. amount
Plumbing, Heating, and Air-Conditioning Contractors
12
loans
$1.9M
avg. amount
Landscaping Services
9
loans
$1.5M
avg. amount
Beer, Wine, and Liquor Retailers
8
loans
$734K
avg. amount
Roofing Contractors
7
loans
$1.6M
avg. amount
Limited-Service Restaurants
7
loans
$1.1M
avg. amount
Advertising Agencies
6
loans
$2.0M
avg. amount
All Other Personal Services
6
loans
$2.0M
avg. amount
Other Computer Related Services
6
loans
$1.6M
avg. amount
10-Year
1.6%
Percentile Ranking
86th
86th percentile
First Internet Bank of Indiana’s median variable rate is + 2.75%, against a market median of Prime + 1.88%, 88 above market.
It priced below the market median in 0 of the last 8 quarters. 3 of the 350 loans in its trailing three-year book carried a fixed rate; the rest were variable.
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.69% |
| $500K-$1M | Prime + 2.64% |
| $1M-$2M | Prime + 2.63% |
| $2M-$3M | Prime + 2.66% |
| $3M-$4M | Prime + 2.60% |
| $4M-$5M | Prime + 2.63% |
over at time of loan origination
| Quarter | This lender | Market median | Market range | Loans |
|---|---|---|---|---|
| Q3 '24 | Prime + 2.75% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 18 |
| Q4 '24 | Prime + 2.75% | Prime + 2.25% | Prime + 1.50% – Prime + 2.75% | 27 |
| Q1 '25 | Prime + 2.75% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 22 |
| Q2 '25 | Prime + 2.75% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 46 |
| Q3 '25 | Prime + 2.50% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 45 |
| Q4 '25 | Prime + 2.75% | Prime + 2.25% | Prime + 1.67% – Prime + 2.75% | 48 |
| Q1 '26 | Prime + 2.50% | Prime + 2.00% | Prime + 1.50% – Prime + 2.50% | 24 |
| Q2 '26 | Prime + 2.50% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 12 |
First Internet Bank of Indiana has originated 7(a) acquisition loans in 36 states, most actively in Florida (72), Texas (45) and California (24). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Florida | 72 | 20.6% |
| Texas | 45 | 12.9% |
| California | 24 | 6.9% |
| Michigan | 23 | 6.6% |
| Indiana | 20 | 5.7% |
| Colorado | 20 | 5.7% |
| Georgia | 14 | 4.0% |
| New York | 14 | 4.0% |
| Washington | 12 | 3.4% |
| Pennsylvania | 11 | 3.1% |
| Arizona | 10 | 2.9% |
| Ohio | 9 | 2.6% |
| Illinois | 8 | 2.3% |
| New Jersey | 7 | 2.0% |
| Maryland | 7 | 2.0% |
| North Carolina | 6 | 1.7% |
| South Carolina | 6 | 1.7% |
| Wisconsin | 5 | 1.4% |
| Louisiana | 4 | 1.1% |
| Utah | 3 | 0.9% |
| Arkansas | 3 | 0.9% |
| Virginia | 3 | 0.9% |
| Kansas | 3 | 0.9% |
| Oregon | 3 | 0.9% |
| Nevada | 3 | 0.9% |
| Massachusetts | 2 | 0.6% |
| Connecticut | 2 | 0.6% |
| Alabama | 2 | 0.6% |
| North Dakota | 2 | 0.6% |
| New Mexico | 1 | 0.3% |
| New Hampshire | 1 | 0.3% |
| Iowa | 1 | 0.3% |
| Kentucky | 1 | 0.3% |
| Tennessee | 1 | 0.3% |
| Wyoming | 1 | 0.3% |
| Missouri | 1 | 0.3% |
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