Merchants Bank of Indiana
Community bank providing commercial lending, agricultural financing, and business banking services throughout Indiana with personalized service and local decision-making for business customers.
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (57 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
Merchants Bank of Indiana ranks #37 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of Merchants Bank of Indiana’s 7(a) acquisition lending falls in the $0-$500K range: 16 loans, 28.1% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 16 | 28.1% | |
| $500K-$1M | 16 | 28.1% | |
| $1M-$2M | 7 | 12.3% | |
| $2M-$3M | 10 | 17.5% | |
| $3M-$4M | 3 | 5.3% | |
| $4M-$5M | 5 | 8.8% |
Industries with highest loan volume
Private Mail Centers
11
loans
$524K
avg. amount
Hotels (except Casino Hotels) and Motels
6
loans
$2.8M
avg. amount
Drycleaning and Laundry Services (except Coin-Operated)
5
loans
$415K
avg. amount
Landscaping Services
3
loans
$1.3M
avg. amount
Gasoline Stations with Convenience Stores
3
loans
$2.6M
avg. amount
Machine Shops
2
loans
$3.4M
avg. amount
General Automotive Repair
2
loans
$435K
avg. amount
Support Activities for Metal Mining
2
loans
$934K
avg. amount
Other Building Finishing Contractors
1
loans
$834K
avg. amount
Commercial Screen Printing
1
loans
$636K
avg. amount
10-Year
0.6%
Percentile Ranking
83th
83th percentile
Merchants Bank of Indiana’s median variable rate is + 2.00%, against a market median of Prime + 1.88%, 13 above market.
It priced below the market median in 2 of the last 8 quarters.
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.27% |
| $500K-$1M | Prime + 2.11% |
| $1M-$2M | Prime + 2.29% |
| $2M-$3M | Prime + 1.77% |
| $3M-$4M | Prime + 1.92% |
| $4M-$5M | Prime + 1.60% |
| Quarter | This lender | Market median | Market range | Loans |
|---|---|---|---|---|
| Q3 '24 | Prime + 2.00% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 3 |
| Q4 '24 | Prime + 2.00% | Prime + 2.25% | Prime + 1.50% – Prime + 2.75% | 5 |
| Q1 '25 | Prime + 2.00% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 5 |
| Q2 '25 | Prime + 2.13% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 4 |
| Q3 '25 | Prime + 1.50% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 4 |
| Q4 '25 | Prime + 2.38% | Prime + 2.25% | Prime + 1.67% – Prime + 2.75% | 6 |
| Q1 '26 | Prime + 2.50% | Prime + 2.00% | Prime + 1.50% – Prime + 2.50% | 6 |
| Q2 '26 | Prime + 2.00% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 3 |
Merchants Bank of Indiana has originated 7(a) acquisition loans in 18 states, most actively in Illinois (14), Florida (8) and Texas (7). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Illinois | 14 | 24.6% |
| Florida | 8 | 14.0% |
| Texas | 7 | 12.3% |
| Indiana | 6 | 10.5% |
| Wisconsin | 3 | 5.3% |
| Michigan | 3 | 5.3% |
| California | 3 | 5.3% |
| Minnesota | 2 | 3.5% |
| Pennsylvania | 2 | 3.5% |
| Georgia | 1 | 1.8% |
| New Mexico | 1 | 1.8% |
| Maryland | 1 | 1.8% |
| Colorado | 1 | 1.8% |
| Iowa | 1 | 1.8% |
| Ohio | 1 | 1.8% |
| Idaho | 1 | 1.8% |
| South Carolina | 1 | 1.8% |
| Connecticut | 1 | 1.8% |
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