Indiana businesses borrowed $424.7 million through U.S. Small Business Administration programs in 2012, an 18-percent decline from 2011, latest SBA statistics show.
The SBA expected activity to drop in the fiscal year ended Sept. 30, as special incentives expired. SBA loan volume still exceeded the 2010 number by $85 million.
The most active lenders in the state measured by number of loans are a familiar group. Columbus, Ohio-based Huntington National Bank led the pack with 222 loans totaling $28.4 million, followed by New York-based Chase Bank with 98 loans totaling $17.4 million, and South Bend-based 1st Source Bank with 87 loans totaling $11.7 million.
Other lenders produced the highest dollar volumes. Indianapolis-based Premier Capital Corp., a not-for-profit that specializes in the SBA’s 504 program for capital equipment and real estate, loaned $33.6 million over 69 deals. Cleveland-based KeyBank loaned the second-highest dollar volume, $29.6 million over 63 transactions.