Brewery, Winery and Distillery Feasibility Study in the Indianapolis-Carmel-Greenwood, IN Metro Area
What SBA's own loan files show about beverage manufacturing (breweries, wineries, distilleries) lending in the Indianapolis-Carmel-Greenwood, IN Metro Area, and what a feasibility study for a project there has to test.
How Indianapolis-Carmel-Greenwood ranks for brewery, winery and distillery
With 51 SBA approvals worth $25.6 million between FY2017 and FY2026, Indianapolis-Carmel-Greenwood, IN stands 14 of 443 among metro and micro areas. Indianapolis-Carmel-Greenwood's brewery, winery and distillery share of loans is 1.38x the share seen nationally: Indianapolis-Carmel-Greenwood leans toward the class. Ranked inside Indianapolis-Carmel-Greenwood, the class sits 11 of 39, a midfield line. Project counties here sit in Indiana.
The median Indianapolis-Carmel-Greenwood loan comes to $249,000, with its middle half between $62,500 and $546,750. The median is 0.86x the median nationally for the class, so Indianapolis-Carmel-Greenwood borrowers take smaller loans. For Indianapolis-Carmel-Greenwood, SBA 504 accounts for 11 loans and SBA 7(a) for 40. Franchising among loans in Indianapolis-Carmel-Greenwood is 0.00%.
Brewery, winery and distillery lenders in Indianapolis-Carmel-Greenwood
Under 7(a) in Indianapolis-Carmel-Greenwood, SBA records these holders The Huntington National Bank reports 11 loans, $1.1 million in all. The 504 table for Indianapolis-Carmel-Greenwood is empty. Each Indianapolis-Carmel-Greenwood row is an SBA record. The Indianapolis-Carmel-Greenwood lenders named hold or held them. Indianapolis-Carmel-Greenwood figures show files, not conduct. No Indianapolis-Carmel-Greenwood row says what a lender requires. In Indianapolis-Carmel-Greenwood, by county, Marion County, IN records 19 loans, then Hamilton County, IN at 10 and Hendricks County, IN at 6.
Year by year, Indianapolis-Carmel-Greenwood shows FY2017 (12 loans, $3.1 million), FY2018 (8 loans, $1.2 million), FY2021 (5 loans, $6.4 million) and FY2024 (6 loans, $6.3 million). FY2019, FY2020, FY2022, FY2023, FY2025 and FY2026 are not published for Indianapolis-Carmel-Greenwood, because Loan Analytics withholds a year with too few loans, so Indianapolis-Carmel-Greenwood's gaps mean unpublished, never zero. The Indianapolis-Carmel-Greenwood cancellation floor is withheld. Too few Indianapolis-Carmel-Greenwood approvals exist to print one. Indianapolis-Carmel-Greenwood carries no printed charge-off floor. Indianapolis-Carmel-Greenwood's thin cohort stays unpublished. All Indianapolis-Carmel-Greenwood totals use federal lines from July 2023, where Indianapolis-Carmel-Greenwood loans are placed by county, and Indianapolis-Carmel-Greenwood omits unmatched counties. The industry code states only that a borrower brews, ferments or distills, so a visit to a taproom or tasting bar is hidden in Indianapolis-Carmel-Greenwood; the class holds only those three.
Proving a brewery, winery and distillery project in Indianapolis-Carmel-Greenwood
For a brewery, winery and distillery project in Indianapolis-Carmel-Greenwood, IN, the record gives context; a study proves. Indianapolis-Carmel-Greenwood analysis should establish coverage during a slow volume ramp. For Indianapolis-Carmel-Greenwood, the study should address taproom, distribution and events, separately. Each Indianapolis-Carmel-Greenwood study must establish visitors a taproom can truly draw. Lenders in Indianapolis-Carmel-Greenwood will look for how inventory is financed for months. For Indianapolis-Carmel-Greenwood, we would first examine existing producers by volume and style. For Indianapolis-Carmel-Greenwood: demand, cost, coverage, value. Indianapolis-Carmel-Greenwood lenders receive a file to examine.
SBA beverage manufacturing (breweries, wineries, distilleries) loans in the Indianapolis-Carmel-Greenwood, IN Metro Area
| Loans approved, FY2017 to FY2026 | 51 |
|---|---|
| Gross dollars approved | $25.6 million |
| Median loan | $249,000 |
| Middle half of loans, from | $62,500 |
| Middle half of loans, to | $546,750 |
| SBA 7(a) loans | 40 |
| SBA 504 loans | 11 |
| Franchise share of loans | 0.00% |
| Rank among metro and micro areas for beverage manufacturing (breweries, wineries, distilleries) loans | 14 of 443 |
| Rank of beverage manufacturing (breweries, wineries, distilleries) among the classes in this area | 11 of 39 |
| Location quotient (share of loans against the national share) | 1.38x |
| Median loan against the national median for the class | 0.86x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | withheld |
|---|---|
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | withheld |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
SBA beverage manufacturing (breweries, wineries, distilleries) loans approved in the Indianapolis-Carmel-Greenwood, IN Metro Area, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 12 | $3.1 million |
| FY2018 | 8 | $1.2 million |
| FY2019 | withheld | withheld |
| FY2020 | withheld | withheld |
| FY2021 | 5 | $6.4 million |
| FY2022 | withheld | withheld |
| FY2023 | withheld | withheld |
| FY2024 | 6 | $6.3 million |
| FY2025 | withheld | withheld |
| FY2026 | withheld | withheld |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| The Huntington National Bank | 11 | $1.1 million |
Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.
Where the loans are, by county
| County | Loans |
|---|---|
| Marion County, IN | 19 |
| Hamilton County, IN | 10 |
| Hendricks County, IN | 6 |
Counties with 5 or more loans; smaller ones are not listed.
Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.
The code says the borrower makes beer, wine or spirits; a taproom, tasting room or event use is not visible. The class holds breweries, wineries and distilleries only; the rest of manufacturing is not in it.
Shared code: Wineries are in this class.
A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MA-26900-C08.
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