First Internet Bank of Indiana: SBA Lending Record

First Internet in SBA data

2,062 loans for FY2017 to FY2026 sit under First Internet Bank of Indiana. At First Internet, they add up to $2.62 billion in gross dollars approved. All 2,062 are SBA 7(a) loans, and First Internet has 0 SBA 504 loans. First Internet is recorded in Indiana. The 2,062 figures are SBA's records of First Internet holdings. Nothing in them shows what First Internet requires. SBA, not First Internet, guarantees them. Each of the 2,062 sits under its latest holder.

First Internet: asset classes

First Internet has 1,595 loans in no named class, so First Internet class views cover part of 2,062. First Internet: full-service restaurant leads, at 113, then liquor store at 62, next limited-service restaurant at 57. Last at First Internet: automotive mechanical repair at 38, next fitness center at 35; gas station and truck stop at 25. Also at First Internet: child care center at 21, then coffee shop and snack bar at 19, next hotel and motel at 16. Then at First Internet: beauty salon at 13, grocery store at 11, then medical office at 9. The 1,595 unplaced loans are the largest block at First Internet. Its class comparison of 2,062 rests on a minority.

First Internet: geography

Florida heads the First Internet state table at 338 loans, then Texas with 253 and California with 217. The First Internet table continues through Michigan at 160, Indiana at 127, Colorado at 98, Illinois at 95, Georgia at 66, Arizona at 58 and New York at 47, then smaller counts. For First Internet, home state Indiana shows 127 loans. The First Internet spread shows whether the 2,062 holdings reach beyond Indiana.

First Internet: loan outcomes

Cancellation floor for First Internet over FY2017 to FY2024 approvals: 9.4%, among 2,062. Our own rule withholds the First Internet ceiling. The First Internet five-year figure is withheld too. First Internet's cohorts are too small. Across 338 FY2017 to FY2021 disbursements, First Internet has at least 5.9% charged off to date. The First Internet figure of 5.9% is a floor. Open First Internet loans can still be charged off.

First Internet: using the figures

First Internet figures form a map of holdings. 2,062 loans show where First Internet stands as holder. The 9.4% cancellation floor shows how First Internet approvals fared. It forecasts no First Internet request. A First Internet project has demand and cost. A First Internet borrower should name which of the 2,062 loans look like it. Differences matter to First Internet as much as likenesses. 2,062 loans, plainly told, let First Internet judge the study. A floor of 9.4% at First Internet describes the past, not the future.

First Internet: study tests

Preparing a request to First Internet? Read 2,062 loans as background for First Internet. Full-service restaurant borrowers at First Internet meet 113 loans, the closest comparison. First Internet: the study tests sales per seat. First Internet needs labour cost tested too. Show First Internet coverage in a slow year too. First Internet needs an appraisal that supports it. First Internet offers just 1,595 unplaced loans for an unnamed type. First Internet's study makes the case. First Internet holds 338 loans in Florida. Elsewhere, First Internet holdings need a reason. At First Internet, a cancellation floor of 9.4% means approval is not funding. The First Internet study should allow for delay.