Healthcare practice financing in Indiana

Nothing above is summarized without the Indiana citation beside it. It is not legal advice, and counsel decides how it applies to a given entity. Verified

Source: SBA 7(a) and 504 approval files, fiscal year 2025. Verified

The largest county file in Indiana is FORT WAYNE: 7 approvals worth $5.4 million. Away from it, expect fewer local comparables and a longer credit memo. Verified

A missing category is one CMS does not certify in Indiana. Not yet loaded means exactly that: the pillar has not been pulled for Indiana yet. Directional

Marion leads Indiana with 25 certified providers, ahead of MARION at 23. The further a practice sits from Marion, the more of the credit case rests on its own billing history. Verified

The base to finance in Indiana is 14,716 establishments, with physician and specialty offices the largest block at 3,423. Compare the 113 approvals and the ratio lands at 0.8 per 100, which frames how unusual a guaranteed loan is locally. Verified

The heaviest county in Indiana is Marion at 2,608 establishments. Establishment counts set how long an acquisition search runs before a letter of intent is signed at all. Verified

The deepest Indiana occupation on this table is registered nurses: 68,980 employed, $83,500 mean. Recruitment cost is the quiet constraint on expansion capital, and this is the figure to build the Indiana payroll line from. Verified

1,882 designations are on file for Indiana, covering primary care, mental health, dental. For an owner, that is a staffing lever attached to a location decision rather than a discount on capital. Verified

• Dental offices: $15.4 million across 18 approvals, averaging $855,111. Above $855,111 the file needs collateral or trading history that most of those 18 Indiana borrowers did not have to show.
• Physician and specialty offices: $483,314 average across 14 Indiana approvals worth $6.8 million, so a request in that range reads as routine rather than exceptional.
• Pharmacies: 4 approvals, $5.0 million, $1.3 million average. A Indiana request near $1.3 million sits inside the band 4 approvals already established.
• Medical staffing: 5 Indiana approvals totaling $3.7 million, $731,720 each. With only 5 Indiana approvals behind $3.7 million, the underwriter reads documents rather than precedent.
• Veterinary practices: $3.5 million over 5 approvals in Indiana, $691,800 each, which sets what a comparable request can be documented against.
• Home health and hospice: $131,423 average across 22 Indiana approvals worth $2.9 million, so a request in that range reads as routine rather than exceptional.
• Residential care and treatment: $2.7 million across 3 approvals, averaging $885,800. Above $885,800 the file needs collateral or trading history that most of those 3 Indiana borrowers did not have to show.
• Physical, occupational, and speech therapy: average approval $327,250 over 8 closings worth $2.6 million. At $327,250 against $2.6 million of state volume, that is an equipment or fit-out request more often than an acquisition.
• Optometry offices: $2.6 million over 1 approvals in Indiana, $2.6 million each, which sets what a comparable request can be documented against.

• Most of the money approved in Indiana went to dental offices, 29 percent of it, at $855,111 per approval. That average is the yardstick a Indiana file is measured against before a single term is discussed.
• After the leaders, physician and specialty offices account for 14 approvals worth $6.8 million and pharmacies for 4. Thin fields are not unfundable in Indiana, but they take a longer memo and more history.
• Indiana shows 1,299 medical equipment suppliers in the certification files. The size of that base tells an owner whether the next site is an acquisition target or an application timeline.
• Indiana records 13 approvals through 504. Real estate deals run longer than working capital deals, and the local count tells an owner whether lenders here are used to closing them.

• 113 SBA approvals to Indiana healthcare borrowers in FY2025¹
• $54.0 million approved, averaging $477,920 per loan¹
• 1,869 CMS-certified providers across 5 categories²

• Healthcare AR line and payroll funding
• Partner buy-in, buy-out, and refinance
• Commercial real estate, owner-occupied
• Expansion, relocation, and build-out
• Medical receivables factoring
• SBA 7(a) and 504
• Working capital term loan

• Indiana State Loan Repayment Program (IN-SLRP), the state loan repayment route for clinicians recruited into shortage areas
• Indiana Medical Licensing Board (PLA), licensure and ownership questions for physicians
• Indiana Dentistry Board (PLA), licensure and ownership questions for dentists

Also covered in Indiana: Crawfordsville, Goshen, West Lafayette, Hobart, Jeffersonville, Huntington, Plymouth, Plainfield, Clarksville, Westfield, East Chicago, Lafayette, Bloomington, Muncie, Danville, Dyer, Jasper, Madison, Schererville, Elkhart, Greenfield, Munster, Warsaw, Avon, Terre Haute, Greensburg, New Castle, Highland

• All states covered
• Every financing program
• Louisiana healthcare practice financing, if the practice operates across the line
• Michigan healthcare practice financing, if the practice operates across the line
• Montana healthcare practice financing, for a side-by-side on rules and loan volume
• Dialysis and infusion centers, with the payer profile behind the numbers
• Clinical research sites, read on the terms that field is underwritten on
• Dermatology, with the payer profile behind the numbers
• Physical, occupational, and speech therapy, with the capital events that field actually runs
• Hair restoration, including what collections history is asked for
• Ketamine, TMS, and interventional psychiatry, with the payer profile behind the numbers

1. 1SBA 7(a) and 504 approvals, FY2025
2. 2CMS provider certification files
3. 3NPPES provider registry
4. 4County Business Patterns 2022
5. 5BLS Occupational Employment and Wage Statistics, OEWS 2025
6. 6HRSA health professional shortage area file
7. 7Indiana corporate practice rules
8. 8Indiana certificate of need
9. 9Indiana State Loan Repayment Program (IN-SLRP)
10. 10Indiana Medical Licensing Board (PLA)
11. 11Indiana Dentistry Board (PLA)