Indiana Business Loans

Indiana, “The Hoosier State” is an economic leader in the Midwest region of the country. Indiana’s unemployment rate and sales taxes have been key factors in the economic growth. As the local economy continues to grow there are more opportunities for business owners. Business loans in Indiana allow businesses to cover expenses and take advantage of new business opportunities. SMB Compass provides business loans in Indiana to a verity of different industries and businesses to help the local economy.

Located in the Corn Belt of America, agriculture is one of the leading industries for the local economy. The state has a vast amount of farmland and is one of the top agricultural producing states in the country. Indiana’s most notable crops include corn, soybeans, hay, wheat and tomatoes. Although the state produces a wide array of products, these make up a large percentage of the total revenue generated. Businesses in this industry use equipment financing and small business loans in Indiana to purchase equipment and cover expenses.

Indianapolis, the capital and the largest city in the state is a leader in the manufacturing industry. Indiana relies on the manufacturing industry to provide revenue and jobs for the state’s economy. Indiana is a top contributor in the auto manufacturing and the production of metals. The state also manufacturing’s a large quantity of pharmaceuticals, electrical equipment, transportation equipment, rubber, petroleum, and factory machinery. Small business loans in Indiana are used to finance the expenses of equipment, inventory and purchase orders. A business loan in Indiana gives business owners the flexibility to cover operating and overhead expenses. A lot of the large companies in Indiana buy goods and materials directly from small businesses, making financing crucial for manufactures.

Indiana is home to the Indianapolis 500, Indianapolis Colts, and major universities such as Indiana University, Notre Dame, and Purdue University. Millions of visitors travel to Indiana annually and bring a major source of revenue to small businesses throughout the state. These businesses rely on restaurant loans and hotel loans in Indiana to operate and expand their businesses.