Canva
1 / 50#50. Tipton County
- SBA approved about $24.85 per resident in 7(a) loans in 2023.
- Total approved funds: $380,000
- Number of loans: 2
Counties receiving the most SBA loans in Indiana
The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.
Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.
Flippa found the county in Indiana where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA's most common loan program, known as 7(a) loans. SBA's 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.
Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don't qualify for conventional business financing. They can also provide protection against high and volatile interest rates, as SBA-backed loans have maximum interest rates that are predictable and often lower than other loans.
In a national analysis of the #1 ranked counties in every state, all but two counties had populations of less than 500,000—most smaller than 100,000. That's not surprising, as the Census Bureau classifies about 99% of U.S. counties as small. Still, it signifies that these smaller communities are building successful entrepreneurial environments. In most cases, their small businesses are able to succeed beyond those within the major U.S. population centers—at least in terms of success in gaining SBA funding.
Read on to see whether your county ranks among those receiving the most SBA loans.
Canva
2 / 50#49. Jennings County
- SBA approved about $25.34 per resident in 7(a) loans in 2023.
- Total approved funds: $700,000
- Number of loans: 2
Canva
3 / 50#48. Jackson County
- SBA approved about $25.37 per resident in 7(a) loans in 2023.
- Total approved funds: $1.2 million
- Number of loans: 2
Roberto Galan // Shutterstock
4 / 50#47. Steuben County
- SBA approved about $25.80 per resident in 7(a) loans in 2023.
- Total approved funds: $887,000
- Number of loans: 6
Canva
5 / 50#46. Fulton County
- SBA approved about $29.40 per resident in 7(a) loans in 2023.
- Total approved funds: $599,700
- Number of loans: 2
Canva
6 / 50#45. Wabash County
- SBA approved about $29.67 per resident in 7(a) loans in 2023.
- Total approved funds: $923,300
- Number of loans: 5
Roberto Galan // Shutterstock
7 / 50#44. Shelby County
- SBA approved about $29.67 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 3
Roberto Galan // Shutterstock
8 / 50#43. Greene County
- SBA approved about $31.76 per resident in 7(a) loans in 2023.
- Total approved funds: $982,000
- Number of loans: 3
Henryk Sadura // Shutterstock
9 / 50#42. Marshall County
- SBA approved about $32.76 per resident in 7(a) loans in 2023.
- Total approved funds: $1.5 million
- Number of loans: 10
Canva
10 / 50#41. Pulaski County
- SBA approved about $34.93 per resident in 7(a) loans in 2023.
- Total approved funds: $436,500
- Number of loans: 2
shutter_breaker // Shutterstock
11 / 50#40. Scott County
- SBA approved about $35.75 per resident in 7(a) loans in 2023.
- Total approved funds: $868,400
- Number of loans: 2
Canva
12 / 50#39. Owen County
- SBA approved about $36.94 per resident in 7(a) loans in 2023.
- Total approved funds: $786,000
- Number of loans: 2
Canva
13 / 50#38. Montgomery County
- SBA approved about $37.34 per resident in 7(a) loans in 2023.
- Total approved funds: $1.4 million
- Number of loans: 5
Kenneth Keifer // Shutterstock
14 / 50#37. Lawrence County
- SBA approved about $38.40 per resident in 7(a) loans in 2023.
- Total approved funds: $1.7 million
- Number of loans: 2
Roberto Galan // Shutterstock
15 / 50#36. Morgan County
- SBA approved about $41.51 per resident in 7(a) loans in 2023.
- Total approved funds: $3.0 million
- Number of loans: 5
Canva
16 / 50#35. Vanderburgh County
- SBA approved about $41.76 per resident in 7(a) loans in 2023.
- Total approved funds: $7.5 million
- Number of loans: 24
Roberto Galan // Shutterstock
17 / 50#34. DeKalb County
- SBA approved about $43.87 per resident in 7(a) loans in 2023.
- Total approved funds: $1.9 million
- Number of loans: 5
Canva
18 / 50#33. Jasper County
- SBA approved about $49.11 per resident in 7(a) loans in 2023.
- Total approved funds: $1.6 million
- Number of loans: 2
Melinda Fawver // Shutterstock
19 / 50#32. Harrison County
- SBA approved about $49.58 per resident in 7(a) loans in 2023.
- Total approved funds: $2.0 million
- Number of loans: 3
Canva
20 / 50#31. Lake County
- SBA approved about $52.95 per resident in 7(a) loans in 2023.
- Total approved funds: $26.3 million
- Number of loans: 83
Canva
21 / 50#30. Clark County
- SBA approved about $53.39 per resident in 7(a) loans in 2023.
- Total approved funds: $6.4 million
- Number of loans: 16
Canva
22 / 50#29. Putnam County
- SBA approved about $55.87 per resident in 7(a) loans in 2023.
- Total approved funds: $2.1 million
- Number of loans: 5
Canva
23 / 50#28. Jefferson County
- SBA approved about $59.67 per resident in 7(a) loans in 2023.
- Total approved funds: $2.0 million
- Number of loans: 4
Canva
24 / 50#27. St. Joseph County
- SBA approved about $60.07 per resident in 7(a) loans in 2023.
- Total approved funds: $16.3 million
- Number of loans: 52
Roberto Galan // Shutterstock
25 / 50#26. Fayette County
- SBA approved about $62.24 per resident in 7(a) loans in 2023.
- Total approved funds: $1.5 million
- Number of loans: 4
Roberto Galan // Shutterstock
26 / 50#25. Sullivan County
- SBA approved about $63.97 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 1
Roberto Galan // Shutterstock
27 / 50#24. Hendricks County
- SBA approved about $64.51 per resident in 7(a) loans in 2023.
- Total approved funds: $11.1 million
- Number of loans: 57
Roberto Galan // Shutterstock
28 / 50#23. Wells County
- SBA approved about $64.63 per resident in 7(a) loans in 2023.
- Total approved funds: $1.8 million
- Number of loans: 3
Canva
29 / 50#22. Elkhart County
- SBA approved about $64.79 per resident in 7(a) loans in 2023.
- Total approved funds: $13.4 million
- Number of loans: 27
Canva
30 / 50#21. Porter County
- SBA approved about $69.60 per resident in 7(a) loans in 2023.
- Total approved funds: $12.0 million
- Number of loans: 34
Canva
31 / 50#20. Tippecanoe County
- SBA approved about $70.18 per resident in 7(a) loans in 2023.
- Total approved funds: $13.1 million
- Number of loans: 40
Roberto Galan // Shutterstock
32 / 50#19. Clay County
- SBA approved about $71.05 per resident in 7(a) loans in 2023.
- Total approved funds: $1.9 million
- Number of loans: 2
Canva
33 / 50#18. Boone County
- SBA approved about $71.49 per resident in 7(a) loans in 2023.
- Total approved funds: $5.0 million
- Number of loans: 18
Canva
34 / 50#17. Cass County
- SBA approved about $72.93 per resident in 7(a) loans in 2023.
- Total approved funds: $2.8 million
- Number of loans: 4
Canva
35 / 50#16. Allen County
- SBA approved about $76.66 per resident in 7(a) loans in 2023.
- Total approved funds: $29.3 million
- Number of loans: 72
Canva
36 / 50#15. LaGrange County
- SBA approved about $77.09 per resident in 7(a) loans in 2023.
- Total approved funds: $3.1 million
- Number of loans: 4
Canva
37 / 50#14. Franklin County
- SBA approved about $86.83 per resident in 7(a) loans in 2023.
- Total approved funds: $2.0 million
- Number of loans: 6
Canva
38 / 50#13. Howard County
- SBA approved about $90.75 per resident in 7(a) loans in 2023.
- Total approved funds: $7.6 million
- Number of loans: 12
Roberto Galan // Shutterstock
39 / 50#12. Starke County
- SBA approved about $95.36 per resident in 7(a) loans in 2023.
- Total approved funds: $2.2 million
- Number of loans: 5
Canva
40 / 50#11. Hancock County
- SBA approved about $102.87 per resident in 7(a) loans in 2023.
- Total approved funds: $8.1 million
- Number of loans: 22
SevenMaps // Shutterstock
41 / 50#10. Washington County
- SBA approved about $108.83 per resident in 7(a) loans in 2023.
- Total approved funds: $3.1 million
- Number of loans: 3
Lost Shoe Studios // Shutterstock
42 / 50#9. Martin County
- SBA approved about $116.34 per resident in 7(a) loans in 2023.
- Total approved funds: $1.2 million
- Number of loans: 1
Roberto Galan // Shutterstock
43 / 50#8. Johnson County
- SBA approved about $120.52 per resident in 7(a) loans in 2023.
- Total approved funds: $19.3 million
- Number of loans: 59
Canva
44 / 50#7. Randolph County
- SBA approved about $130.46 per resident in 7(a) loans in 2023.
- Total approved funds: $3.2 million
- Number of loans: 3
Sean Pavone // Shutterstock
45 / 50#6. Marion County
- SBA approved about $139.09 per resident in 7(a) loans in 2023.
- Total approved funds: $134.9 million
- Number of loans: 265
Roberto Galan // Shutterstock
46 / 50#5. Henry County
- SBA approved about $140.88 per resident in 7(a) loans in 2023.
- Total approved funds: $6.9 million
- Number of loans: 11
Canva
47 / 50#4. LaPorte County
- SBA approved about $144.26 per resident in 7(a) loans in 2023.
- Total approved funds: $16.2 million
- Number of loans: 27
Roberto Galan // Shutterstock
48 / 50#3. Daviess County
- SBA approved about $163.02 per resident in 7(a) loans in 2023.
- Total approved funds: $5.4 million
- Number of loans: 9
Canva
49 / 50#2. Hamilton County
- SBA approved about $196.03 per resident in 7(a) loans in 2023.
- Total approved funds: $67.0 million
- Number of loans: 141
Canva
50 / 50#1. Bartholomew County
- SBA approved about $201.00 per resident in 7(a) loans in 2023.
- Total approved funds: $16.4 million
- Number of loans: 10
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 50 states.
