Nationwide Lender Merchants Bank of Indiana Extends Support for Small Businesses in Q2 and Q3

When it comes to running your business, you don’t have to overcome challenges alone. The U.S. Small Business Administration (SBA) team at Merchants Bank of Indiana (MBI) has been helping employers big and small, from sea to shining sea, get their feet off the ground and back into running their business.

It’s been a daunting two years of being a business owner. Whether your company has faced uncertainty during times of layoffs and resignations, has come face-to-face with inflation rates rising to all-time highs, is in desperate need of a refinance of real estate, or you’re just starting out in an ever-changing economy and don’t know where to begin, turn to the trusted nationwide lenders at MBI. While other lenders are ambivalent with regard to the market, our lenders are still here, active and ready to lend a helping hand for your small business – and we aren’t going anywhere.

Let’s take a closer look at some of our recently secured loans over the past several months of 2022. These loans help show the breadth of the types of industries, loans and locations that MBI SBA lenders can service. A sampling of the businesses we’ve supported this year include:

  • A family-owned trucking company in Illinois, which due to their exponential growth in the past five years, required a $2.3 million SBA loan to purchase commercial real estate for a new business office;
  • A neurology care center in Texas, which received a $1.4 million loan to operate in a second location to better handle the needs of their patients as most of the current practice will move to the new space;
  • A group of tri-borrowers seeking to purchase a Motel 6 property in Wisconsin, which needed a $2.6 million loan to secure the property and allow it to operate effectively and efficiently under its new ownership;
  • A current bank customer in Georgia, which sought a $1.6 million loan for the acquisition of its third child care center, to provide before and after school care, food for the children and year-round voluntary Pre-Kindergarten service;
  • And a demolition services company in Florida, which requested a $1.6 million loan to construct a building to house their current business operations, allowing them to cease renting at their current location.

As you can see, financing needs come in all different shapes and sizes. We are equipped to handle SBA 7(a), SBA 504 interim bridge loans and small business lines of credit. The most popular option has been the SBA 7(a) small business loan, as the up to $5 million in proceeds can be used for a variety of requests such as working capital, acquisition of a business or assets, refinancing debt, purchasing or refinancing or real estate, purchasing necessary equipment and more.

Ready to gear up for another unpredictable quarter? At least there’s one thing you can always rely on – the SBA team at Merchants Bank of Indiana. With 2022 coming to a close shortly, it’s time to take the plunge and make a financial choice that will mean a world of a difference for your business.

Connect with our SBA lending specialists today to learn more about what we can do for your business to end the year strong. For more information on Merchants Bank’s SBA program, click here or follow along with us on Facebook, LinkedIn, Twitter and Instagram.

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For More Information
Contact One of Our SBA Lenders

Sherwin Patidar Headshot

Sherwin Patidar

Senior Business Development Officer

Headshot of Tony Holtzman

Tony Holtzman

Senior Business Development Officer 317.502.8547

Headshot of Tony Boddie

Tony Boddie

Senior Business Development Officer

Headshot of Jeff Scott

Jeff Scott

President, SBA Lending

Headshot of Mark Harville

Mark Harville

Business Development Officer

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