First Merchants Bank approved 615 SBA loans worth $464.9M between October 2021 and June 2026, ranking #64 of 2,283 SBA lenders nationally by loan count. Its median loan was $350,000, and 27% went to startups or businesses under two years old. It lent in 42 states, most often in Indiana, and its most financed industry was restaurants and hotels.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Indiana | 147 | $32.3M | $50,000 | #7 |
| Michigan | 80 | $31.3M | $50,000 | #21 |
| Texas | 57 | $61.0M | $700,000 | #74 |
| Florida | 50 | $47.7M | $685,000 | #68 |
| California | 29 | $19.9M | $507,000 | #110 |
| New York | 27 | $44.3M | $1,306,000 | #71 |
| Ohio | 24 | $17.2M | $332,500 | #56 |
| Illinois | 20 | $18.1M | $266,000 | #71 |
| Idaho | 17 | $15.9M | $567,000 | #34 |
| Pennsylvania | 17 | $9.0M | $350,000 | #69 |
| Georgia | 14 | $14.4M | $387,500 | #98 |
| New Jersey | 14 | $16.6M | $911,500 | #69 |
| Colorado | 11 | $17.3M | $1,312,000 | #90 |
| Missouri | 9 | $8.2M | $300,000 | #92 |
| Connecticut | 8 | $8.6M | $637,000 | #45 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Restaurants and hotels | 92 | $733,500 | |
| Construction | 78 | $100,000 | |
| Retail | 78 | $513,450 | |
| Other services (repair, personal care) | 72 | $529,000 | |
| Health care and social assistance | 61 | $310,000 | |
| Professional and technical services | 52 | $112,500 | |
| Manufacturing | 44 | $390,000 | |
| Administrative and support services | 35 | $225,000 | |
| Transportation and warehousing | 28 | $75,000 | |
| Arts, entertainment and recreation | 21 | $1,182,000 |