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Small Business Administration Provides $728 Million in Loans to Indiana Businesses  

2023-12-17 – BE&O ATC

This year, the Small Business Administration (SBA) helped supply Indiana businesses with more than $728 million in loans. 

With SBA lending opportunities easy to find, SBA Indiana District Director Stacey Poynter is encouraging businesses across the state to apply for federally-backed loans and increase their access to capital.   

Poynter says almost 99% of businesses in Indiana qualify as a small business, and most of them would qualify for a loan through the SBA. He says the SBA handed out 1,300 loans in Indiana in fiscal year 2023. 

Of the thousands of small businesses in Indiana. 42% are owned by women, and many are located in rural counties. But Poynter says businesses in rural communities only receive 23% of SBA loans. 

In addition, Poynter encourages entrepreneurs in the area to take advantage of the Small Business Development Center in Indianapolis. At the center, entrepreneurs can receive free one-on-one business counseling, financial advice, and tips on how to grow their businesses.