1st Source Bank
Headquartered in SOUTH BEND, IN. Analysis based on 583 SBA 7(a) loans approved between FY2020 and 2025-12-31, totaling $117.4M.
Total 7(a) loans
583
Total approved
$117.4M
Average loan
$201K
States funded in
4
Charge-off rate
0.47%
FY2020–FY2023 cohort
Paid-in-full rate
37.50%
Average rate
7.74%
Average term
103 mo
Top 10 industries financed
| NAICS | Industry | Loans |
|---|---|---|
| 484110 | General Freight Trucking, Local | 47 |
| 484121 | General Freight Trucking, Long Distance, Truckload | 41 |
| 561730 | Landscaping Services | 24 |
| 722513 | Limited-Service Restaurants | 22 |
| 722511 | Full-Service Restaurants | 21 |
| 812112 | Beauty Salons | 20 |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 12 |
| 722515 | Snack and Nonalcoholic Beverage Bars | 11 |
| 484220 | Specialized Freight (except Used Goods) Trucking, Local | 11 |
| 238210 | Electrical Contractors | 10 |
Top 10 states
| State | Loans |
|---|---|
| IN | 522 |
| MI | 58 |
| OH | 2 |
| IL | 1 |
Top franchise brands financed
35 franchise loans across 21 distinct brands.
| Franchise | Loans |
|---|---|
| USA Insulation | 5 |
| Firehouse Subs | 3 |
| Biggby Coffee | 3 |
| Little Caesars | 3 |
| Handel's Homemade Ice Cream Si | 2 |
| Monster Tree Service | 2 |
| Roto-Rooter - Independent Cont | 2 |
| Bin There...Dump That | 2 |
| DQ Grill & Chill Operating Agr | 1 |
| RE/MAX of Indiana | 1 |
Get matched with SBA lenders — free
Tell us a bit about your funding need. We'll connect you to SBA-preferred lenders active in your industry and state. No obligation.
Data source & methodology
All figures computed from the SBA Office of Capital Access FOIA dataset (7(a) loans, FY2020–present, as of 2025-12-31). Charge-off and paid-in-full rates are calculated on the FY2020–FY2023 cohort only, so loans have had time to mature. Charge-off rank covers lenders with ≥500 mature loans.