First Internet Bank of Indiana
- Loans
- 395
- Approved
- $551M
- Median deal
- $939,000
- Median rate
- 10.00%
#3 of 249 by loans, FY2025 to FY2026 Q3
gross approvals
national $709,300
national 9.25% at approval
Loans per fiscal year
FY2026 is partial: 144 loans approved through June 30, 2026.
| Fiscal year | Loans |
|---|---|
| FY2020 | 15 |
| FY2021 | 7 |
| FY2022 | 30 |
| FY2023 | 72 |
| FY2024 | 109 |
| FY2025 | 251 |
| FY2026 (partial year, through June 30, 2026) | 144 |
How they lend
Across 395 change-of-ownership loans, FY2025 to FY2026 Q3.
Acquisition share of their 7(a) lending
Acquisitions 628 (33.4%)Other purposes 1,253 (66.6%)
Their full 7(a) book since FY2020 is 1,881 loans. Every other figure on this page counts the 628 acquisition loans only.
Initial rate structure
Variable 99.49%Fixed 0.51%
- Middle half of rates
- 9.50% to 10.25%
- Typical margin over Prime
- Prime + 2.75% at approval (393 variable loans)
- Recent median rate
- 9.25% (n = 90, Jan 1 to Jun 30, 2026)
- Median term
- 120 months
- Collateral reported
- 100.00% of loans
- Sold on the secondary market
- 54.94% of loans
- Franchise loans
- 5.32% of loans
- Approval to first disbursement
- 23 days (n = 344)
Processing method
| Preferred Lenders Program | 66.84% | |
| SBA Express Program | 31.90% | |
| International Trade Loans | 1.27% |
SBA processing-method labels as they appear in the loan file, as shares of this lender’s window loans.
What they fund
Industries and deal sizes across 395 change-of-ownership loans, FY2025 to FY2026 Q3.
Top industries
| Construction | 24.05% | |
| Professional, Scientific, and Technical Services | 12.15% | |
| Other Services (except Public Administration) | 10.13% | |
| Retail Trade | 10.13% | |
| Manufacturing | 9.37% |
Deal size mix
Under $350K 27.59%$350K to $1M 25.06%$1M to $3.5M 36.71%$3.5M+ 10.63%
Top franchises Casago (3), GLO TANNING (3)
Sectors from each loan’s NAICS code; deal sizes from gross approval amounts. Window loans only.
Where they lend
Top states by this lender’s change-of-ownership loans, FY2025 to FY2026 Q3.
- Florida81 loans
- Texas45 loans
- California34 loans
- Indiana24 loans
- Colorado22 loans
Grouped by ProjectState. State names link to the state lender pages where one exists.
First Internet Bank of Indiana: SBA acquisition lending, answered
Does First Internet Bank of Indiana make SBA acquisition loans?
Yes. First Internet Bank of Indiana was approved for 628 SBA 7(a) change-of-ownership loans since FY2020, including 395 in FY2025 to FY2026 Q3. That ranks it #3 of 249 acquisition lenders by loan count in that window. Acquisitions are 33.4% of its 7(a) lending; the rest are startups, expansions, and working capital.
What interest rates does First Internet Bank of Indiana charge on SBA loans?
Across its FY2025 to FY2026 Q3 acquisition loans, the median rate at approval was 10.00%, against a national median of 9.25%. Half of them started between 9.50% and 10.25%. Its variable-rate loans priced around Prime + 2.75%. Most 7(a) loans float over Prime, so these are rates at approval, not what a borrower pays today.
How large are First Internet Bank of Indiana's SBA acquisition loans?
The median deal was $939,000, against a national median of $709,300. In total it has approved $551M in gross change-of-ownership loans over FY2025 to FY2026 Q3.
How fast does First Internet Bank of Indiana fund an SBA loan?
Across the 344 loans that report both dates, the median time from approval to first disbursement was 23 days. Actual timelines vary with the deal and the documentation.
What kinds of businesses does First Internet Bank of Indiana finance?
Its FY2025 to FY2026 Q3 acquisition loans concentrate in Construction and Professional, Scientific, and Technical Services. 5.32% of its acquisition loans went to franchises. The full industry and deal-size mix is above.
Run a deal at these rates
The deal analyzer prices an acquisition with current SBA terms and shows whether the numbers cover the debt.
Open the deal analyzerThe full lender directory
Every 7(a) acquisition lender in the country, searchable and sortable, with loan counts, medians, and rates.
Browse all lendersSource: SBA 7(a) FOIA file, change-of-ownership loans for First Internet Bank of Indiana. Window stats cover FY2025 to FY2026 Q3, as of June 30, 2026, and refresh with each quarterly cut. Rates and rate quartiles are the rates at approval. Website, headquarters, assets, founding year, and office count come from the FDIC BankFind Suite API and, for credit unions, the NCUA Credit Union Locator (public US government data). Methodology. See an error? Email us and we will correct it.