Three banks that serve Northwest Indiana earned accolades from the U.S. Small Business Administration.
As community lenders, 1st Source Bank earned gold; First Merchants Bank earned silver; and Centier Bank earned bronze for their small business efforts in 2025.
The SBA Indiana district office honored the lenders Feb. 24 at the annual SBA Indiana Lender Awards at the Indiana Small Business Lenders Symposium.
“SBA guaranteed loan programs would not be possible without our lending partners,” said SBA Indiana District Director Stacey Poynter in a press release. “We value these relationships because these lenders work hard to provide Indiana small businesses with critical access to capital to grow their businesses. It is an honor to honor them for their achievements.”
The SBA also shared fiscal year 2025 numbers for its traditional 7(a) and 504 loan programs. Combined, the SBA approved 1,366 loans, which provided $695 million directly to entrepreneurs in the state.
The SBA also awarded 152 microloans less than $50,000 through state lending partners. Indiana's Bankable was the SBA's mission lender. The microloan program provided $4.7 million in funding.
Indiana Statewide Certified Development Corp. was the SBA's 504 CDC lender leader.
Increases in the 504 and microloan program signal good things to come, Poynter said.
“SBA-guaranteed loan programs can be an excellent option for entrepreneurs, and SBA Microloans – which can be up to $50,000 – are a great way to start small, build credit and scale growth because they include a free small business financial counseling component,” Poynter said.
