Local lending data
Who lends to businesses in Vanderburgh County?
115 SBA 7(a) loans went to businesses in Vanderburgh County recently, at a median of $200,000. The lenders that made them, ranked, with local rates and startup share.
115 SBA 7(a) loans went to businesses in Vanderburgh County in the most recent fiscal years, at a median of $200,000. The most active lender was Heritage Federal Credit Union, with 38 loans.
SBA lending in Vanderburgh County, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans that were actually approved to businesses in this county, not advertised ranges.
| Measure | Vanderburgh County | Indiana | National |
|---|---|---|---|
| Loans approved | 115 | 3,944 | 214,102 |
| Median loan | $200,000 | $150,000 | $150,000 |
| 25th - 75th percentile | $73,000 - $500,000 | $50,000 - $401,975 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 9.00% | 10.00% | 10.25% |
| Share to startups | 34.8% | 35.2% | 33.6% |
| Charge-off rate, FY2010-19 | 5.2% | 6.3% | 7.1% |
| Jobs supported | 1,408 | 39,041 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Vanderburgh County. The median, startup share and rate columns describe each lender's own loans in this county, not its national averages.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Heritage Federal Credit Union | 38 | $90,750 | 55% | 8.50% |
| Old National Bank | 15 | $350,000 | 13% | 8.25% |
| Stock Yards Bank & Trust Company | 10 | $423,000 | 40% | 8.75% |
| The First National Bank of Carmi | 8 | $519,950 | 25% | 9.00% |
| The Huntington National Bank | 5 | $225,000 | 40% | 10.25% |
| First Federal Savings Bank | 4 | $313,600 | 0% | 8.75% |
| Legence Bank | 4 | $82,500 | 50% | 9.12% |
| German American Bank | 3 | $449,900 | 33% | 8.00% |
| Readycap Lending, LLC | 3 | $50,000 | 0% | 15.00% |
| U.S. Bank | 3 | $350,000 | 0% | 10.24% |
What stands out here
Reading these figures against the national picture:
- Loans here run larger than average. The median of $200,000 is 33% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- Startup share is about average, at 35% against 34% nationally.
- One lender dominates. Heritage Federal Credit Union alone made 33% of these loans, and the top three made 55%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- Rates run lower here. The median initial rate of 9.00% is 1.25 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Who borrows in Vanderburgh County
The mix of industries taking SBA loans here, led by restaurants and hotels.
| Sector | Loans | Share |
|---|---|---|
| Restaurants and Hotels | 18 | 15.7% |
| Construction | 17 | 14.8% |
| Personal Services | 14 | 12.2% |
| Admin Services | 13 | 11.3% |
| Retail | 9 | 7.8% |
| Healthcare | 9 | 7.8% |
| Real Estate | 7 | 6.1% |
| Manufacturing | 7 | 6.1% |
How to use this
- Shortlist three lenders from the table whose median loan in this county is close to what you need. Size match matters more than brand.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year — see choosing an SBA lender.
- Check your coverage first with the affordability calculator, so you ask for a number your cash flow supports.
- Follow your sector link in the table above for lender data specific to your industry across Indiana.
Other counties in Indiana
- Nearby markets with published data: Marion County, Hamilton County, Lake County, Allen County, Johnson County, Hendricks County, St. Joseph County, Porter County