Horizon Bank
SBA Preferred Lender in Michigan City, IN: SBA 7(a), Express and 504 loans up to $5M for IN and MI businesses, 8.0% median rate, startups eligible. Collateral required.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Michigan and Indiana businesses, startups included, that want a local SBA loan and can pledge collateral.
Not for: Businesses outside Indiana and Michigan, where all its SBA 7(a) lending since FY2020 stayed, or anyone wanting posted rates.
Lender List verdict: Horizon Bank gives Michigan and Indiana owners a fast in-house SBA decision: 37 of its last 39 SBA 7(a) loans skipped SBA review. Expect a collateralized loan at about 8.0% (≈8.53% APR with the SBA fee) and no posted rates.
Horizon Bank (Michigan City) at a glance
Horizon Bank of Michigan City, Indiana, makes SBA 7(a) and 504 loans of up to $5M; its SBA 7(a) loans since FY2020 all went to Indiana or Michigan.
| Horizon Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 4360); SBA Preferred Lender |
| Founded / HQ | 1873 / Michigan City, Indiana |
| Amounts | Up to $5M (recent median $276,200) |
| Cost (headline) | 6.42% to 9.5%, median 8.0% (last 12 months) |
| Status | Active; 39 SBA approvals in the year to June 2026 (5 later cancelled) |
What is Horizon Bank?
Horizon Bank is a Michigan City, Indiana, community bank founded in 1873, with about $6.5 billion in assets and 80 offices (FDIC), including more than 70 branches. It is not First Horizon Bank of Tennessee.
Horizon Bank's SBA programs
Horizon Bank offers SBA 7(a), SBA Express and SBA 504 loans of up to $5M, plus USDA and Capital Access Program loans.
As a Preferred Lender it approved 81 SBA 7(a) loans ($33.3M) in FY2024, 87 ($41.2M) in FY2025 and just 19 ($5.1M) in FY2026 through June 30. Since FY2020: 291 loans worth $120.2M, 178 in Michigan and 113 in Indiana. Source: SBA 7(a) FOIA data, as of June 30, 2026.
Horizon Bank interest rates and fees
Horizon Bank's SBA 7(a) loans in the year to June 30, 2026 started at 6.42% to 9.5%, median 8.0%. With Prime at 7.00%, SBA caps variable loans of $250,001 to $350,000 at 11.5% and larger ones at 10.0%. SBA adds a 3% guaranty fee on the guaranteed share of loans from $150,001 to $700,000; bank fees are unpublished.
Worked example: $350,000 over 10 years at 8.0% is $4,246.47 a month ($159,575.90 interest). The $7,875 guaranty fee ($350,000 × 75% × 3%) lifts total cost to $167,450.90, about 8.53% APR with the fee financed.
Horizon Bank requirements
Horizon Bank publishes no credit score, time in business, revenue or equity injection minimum.
| Requirement | Horizon Bank |
|---|---|
| Location | Lender does not publish; all SBA 7(a) loans since FY2020 in IN or MI |
| Collateral | Taken on all 291 SBA 7(a) loans since FY2020 |
| Personal guarantee | Owners of 20% or more (SBA rule) |
| Business size | Must meet SBA size standards |
| Time to close | Lender does not publish; 60 to 90 days typical (third-party) |
Compare SBA 7(a) lenders, or see Busey Bank and Byline Bank.
Frequently asked questions about Horizon Bank
Is Horizon Bank Legit? Yes. Horizon Bank is an active FDIC-insured bank (certificate 4360) founded in 1873, with about $6.5 billion in assets and 80 offices. Since FY2020 this SBA Preferred Lender has approved 291 SBA 7(a) loans, none charged off in SBA data.
How Long Does Horizon Bank Take to Close an SBA Loan? Horizon Bank publishes no timeline; standard SBA 7(a) loans often take 60 to 90 days. Of its last 39 loans, 37 were approved in-house (22 Preferred Lender, 15 Express), skipping the 5 to 10 business days SBA review adds for other lenders.
Does Horizon Bank Lend to Startups? Yes. Eight of Horizon Bank's 39 SBA 7(a) loans in the 12 months to June 30, 2026 funded businesses that had not yet opened; eight more went to firms two years old or younger. Startups account for 49 of its 291 loans since FY2020, all collateralized.
Where Is Horizon Bank Located? Horizon Bank is headquartered at 515 Franklin St. in Michigan City, Indiana, with more than 70 branches across Indiana and Michigan (80 offices per FDIC). Of its last 39 SBA 7(a) loans, 31 financed Michigan projects and 8 Indiana ones.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Michigan and Indiana businesses, startups included, that want a local SBA loan and can pledge collateral.
Not for: Businesses outside Indiana and Michigan, where all its SBA 7(a) lending since FY2020 stayed, or anyone wanting posted rates.
Lender List verdict: Horizon Bank gives Michigan and Indiana owners a fast in-house SBA decision: 37 of its last 39 SBA 7(a) loans skipped SBA review. Expect a collateralized loan at about 8.0% (≈8.53% APR with the SBA fee) and no posted rates.
Horizon Bank (Michigan City) at a glance
Horizon Bank of Michigan City, Indiana, makes SBA 7(a) and 504 loans of up to $5M; its SBA 7(a) loans since FY2020 all went to Indiana or Michigan.
| Horizon Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 4360); SBA Preferred Lender |
| Founded / HQ | 1873 / Michigan City, Indiana |
| Amounts | Up to $5M (recent median $276,200) |
| Cost (headline) | 6.42% to 9.5%, median 8.0% (last 12 months) |
| Status | Active; 39 SBA approvals in the year to June 2026 (5 later cancelled) |
What is Horizon Bank?
Horizon Bank is a Michigan City, Indiana, community bank founded in 1873, with about $6.5 billion in assets and 80 offices (FDIC), including more than 70 branches. It is not First Horizon Bank of Tennessee.
Horizon Bank's SBA programs
Horizon Bank offers SBA 7(a), SBA Express and SBA 504 loans of up to $5M, plus USDA and Capital Access Program loans.
As a Preferred Lender it approved 81 SBA 7(a) loans ($33.3M) in FY2024, 87 ($41.2M) in FY2025 and just 19 ($5.1M) in FY2026 through June 30. Since FY2020: 291 loans worth $120.2M, 178 in Michigan and 113 in Indiana. Source: SBA 7(a) FOIA data, as of June 30, 2026.
Horizon Bank interest rates and fees
Horizon Bank's SBA 7(a) loans in the year to June 30, 2026 started at 6.42% to 9.5%, median 8.0%. With Prime at 7.00%, SBA caps variable loans of $250,001 to $350,000 at 11.5% and larger ones at 10.0%. SBA adds a 3% guaranty fee on the guaranteed share of loans from $150,001 to $700,000; bank fees are unpublished.
Worked example: $350,000 over 10 years at 8.0% is $4,246.47 a month ($159,575.90 interest). The $7,875 guaranty fee ($350,000 × 75% × 3%) lifts total cost to $167,450.90, about 8.53% APR with the fee financed.
Horizon Bank requirements
Horizon Bank publishes no credit score, time in business, revenue or equity injection minimum.
| Requirement | Horizon Bank |
|---|---|
| Location | Lender does not publish; all SBA 7(a) loans since FY2020 in IN or MI |
| Collateral | Taken on all 291 SBA 7(a) loans since FY2020 |
| Personal guarantee | Owners of 20% or more (SBA rule) |
| Business size | Must meet SBA size standards |
| Time to close | Lender does not publish; 60 to 90 days typical (third-party) |
Compare SBA 7(a) lenders, or see Busey Bank and Byline Bank.
Frequently asked questions about Horizon Bank
Is Horizon Bank Legit? Yes. Horizon Bank is an active FDIC-insured bank (certificate 4360) founded in 1873, with about $6.5 billion in assets and 80 offices. Since FY2020 this SBA Preferred Lender has approved 291 SBA 7(a) loans, none charged off in SBA data.
How Long Does Horizon Bank Take to Close an SBA Loan? Horizon Bank publishes no timeline; standard SBA 7(a) loans often take 60 to 90 days. Of its last 39 loans, 37 were approved in-house (22 Preferred Lender, 15 Express), skipping the 5 to 10 business days SBA review adds for other lenders.
Does Horizon Bank Lend to Startups? Yes. Eight of Horizon Bank's 39 SBA 7(a) loans in the 12 months to June 30, 2026 funded businesses that had not yet opened; eight more went to firms two years old or younger. Startups account for 49 of its 291 loans since FY2020, all collateralized.
Where Is Horizon Bank Located? Horizon Bank is headquartered at 515 Franklin St. in Michigan City, Indiana, with more than 70 branches across Indiana and Michigan (80 offices per FDIC). Of its last 39 SBA 7(a) loans, 31 financed Michigan projects and 8 Indiana ones.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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