| $150,000–350,000 | REZOD LLC | COLUMBUS, OH | First Merchants Bank |
| $150,000–350,000 | RICK A POSTON DO PC | WOODHAVEN, MI | First Merchants Bank |
| $150,000–350,000 | RIGHT WAY MEDICAL, LLC | WESTERVILLE, OH | First Merchants Bank |
| $150,000–350,000 | RIVER VALLEY PAPER COMPANY TRANSPORT, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $1–2 million | RIVER VALLEY PAPER COMPANY, LLC | AKRON, OH | First Merchants Bank |
| $350,000–1 million | RIVERSIDE NEPHROLOGY ASSOCIATES, INC. | COLUMBUS, OH | First Merchants Bank |
| $350,000–1 million | RJP REAL ESTATE HOLDINGS, INC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | RM INC | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | RMJ2 OF NORTHVILLE INC | NORTHVILLE, MI | First Merchants Bank |
| $150,000–350,000 | ROBERT C LAYMAN, OD INC. | LAMBERTVILLE, MI | First Merchants Bank |
| $150,000–350,000 | ROBERT'S HAIR DESIGNER INC | GREENWOOD, IN | First Merchants Bank |
| $150,000–350,000 | ROBERTA'S INC. | WALDRON, IN | First Merchants Bank |
| $150,000–350,000 | ROCKY MOUNTAIN SPECIALTY SERVICES LLC | HAMMOND, IN | First Merchants Bank |
| $150,000–350,000 | ROLAN PLANT SERVICES, INC. | LAFAYETTE, IN | First Merchants Bank |
| $1–2 million | ROLLIE WILLIAMS PAINT SPOT INC | ELKHART, IN | First Merchants Bank |
| $2–5 million | ROSEMA CORPORATION | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | ROURKE & BLUMENTHAL LLC | COLUMBUS, OH | First Merchants Bank |
| $350,000–1 million | ROY UMBARGER AND SONS, INC. | BARGERSVILLE, IN | First Merchants Bank |
| $350,000–1 million | ROYAL SPA CORPORATION | INDIANAPOLIS, IN | First Merchants Bank |
| $2–5 million | ROYAL TRUCK AND TRAILER SALES & SERVICE INC. | WIXOM, MI | First Merchants Bank |
| $350,000–1 million | RPS, INC. | MICHIGAN CITY, IN | First Merchants Bank |
| $150,000–350,000 | RTJ FOODS LLC | DEARBORN, MI | First Merchants Bank |
| $150,000–350,000 | RUCKMAN'S TRUCK CENTER, INC. | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | RUHLIG FARMS, LLC | CARLETON, MI | First Merchants Bank |
| $1–2 million | RUNNEBOHM CONSTRUCTION COMPANY, INC. | SHELBYVILLE, IN | First Merchants Bank |
| $150,000–350,000 | RUPP FUNERAL HOME, INC. | MONROE, MI | First Merchants Bank |
| $150,000–350,000 | RUSS MOORE INC | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | RUSSELL'S TRAILER REPAIR, INC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | RWE MANAGEMENT COMPANY | WILLOWBROOK, IL | First Merchants Bank |
| $150,000–350,000 | RYAN M WALTON DDS INC | AKRON, OH | First Merchants Bank |
| $150,000–350,000 | S & C DISTRIBUTION COMPANY | TINLEY PARK, IL | First Merchants Bank |
| $1–2 million | S&G ACQUISITION LLC | HILLIARD, OH | First Merchants Bank |
| $150,000–350,000 | S.A. BOYCE CORPORATION | MUNCIE, IN | First Merchants Bank |
| $150,000–350,000 | S4 NETQUEST LTD. | COLUMBUS, OH | First Merchants Bank |
| $2–5 million | SACHSE CONSTRUCTION AND DEVELOPMENT COMPANY | DETROIT, MI | First Merchants Bank |
| $150,000–350,000 | SAFARI LIFE CHILD CARE & LEARNING CENTER INC. | LYNWOOD, IL | First Merchants Bank |
| $150,000–350,000 | SAFE RECOVERY, INC. | MIDDLETOWN, IN | First Merchants Bank |
| $150,000–350,000 | SAINT JOSEPH'S COLLEGE | RENSSELAER, IN | First Merchants Bank |
| $350,000–1 million | SALYER PLUMBING INC | HAMMOND, IN | First Merchants Bank |
| $1–2 million | SANCTUARY WEALTH GROUP, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SANDMAN BROS., INC. | SHELBYVILLE, IN | First Merchants Bank |
| $150,000–350,000 | SANDRICK LAW FIRM, LLC | SOUTH HOLLAND, IL | First Merchants Bank |
| $350,000–1 million | SANDS DECKER CPS, LLC | COLUMBUS, OH | First Merchants Bank |
| $150,000–350,000 | SANJO STEEL, INC. | GREENWOOD, IN | First Merchants Bank |
| $150,000–350,000 | SAUDER FEEDS, INC. | GRABILL, IN | First Merchants Bank |
| $350,000–1 million | SC BODNER COMPANY, INC. | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SC MANUFACTURING TEXAS LLC | JOSHUA, TX | First Merchants Bank |
| $350,000–1 million | SCHAEFER TECHNOLOGIES, INC. | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SCHAFER AGENCYS' INC | CARLETON, MI | First Merchants Bank |
| $1–2 million | SCHNEIDER ENGINEERING CORPORATION | INDIANAPOLIS, IN | First Merchants Bank |
| $350,000–1 million | SCHNEIDER GEOSPATIAL, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SCHOMERS PLUMBING & HEATING, LLC | LAFAYETTE, IN | First Merchants Bank |
| $150,000–350,000 | SCHUST MECHANICAL SYSTEMS, LLC | LAOTTO, IN | First Merchants Bank |
| $350,000–1 million | SCIOTO VALLEY HOT TUBS & SPAS, INC. | HILLIARD, OH | First Merchants Bank |
| $150,000–350,000 | SCO ENGINEERING LLC | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | SCOTT W NIEMAN DDS INC | WESTERVILLE, OH | First Merchants Bank |
| $150,000–350,000 | SCS ENVIRONMENTAL CONTRACTING, INC. | FORT WAYNE, IN | First Merchants Bank |
| $1–2 million | SDI INNOVATIONS, INC. | LAFAYETTE, IN | First Merchants Bank |
| $150,000–350,000 | SDP MANUFACTURING INC | DUNKIRK, IN | First Merchants Bank |
| $150,000–350,000 | SECOND HARVEST FOOD BANK OF EAST CENTRAL INDIANA | MUNCIE, IN | First Merchants Bank |
| $350,000–1 million | SECORD FARMS LLC | ERIE, MI | First Merchants Bank |
| $150,000–350,000 | SEEMAC, INCORPORATED | CARMEL, IN | First Merchants Bank |
| $150,000–350,000 | SENTINEL SERVICES INC | GRANGER, IN | First Merchants Bank |
| $150,000–350,000 | SENTRICS, INC | GARLAND, TX | First Merchants Bank |
| $150,000–350,000 | SERVANT SOLUTIONS INC | ANDERSON, IN | First Merchants Bank |
| $150,000–350,000 | SERVICE MECHANICAL, INC. | NEW HAVEN, IN | First Merchants Bank |
| $350,000–1 million | SERVICEPRO.NET, INC. | COLUMBUS, OH | First Merchants Bank |
| $150,000–350,000 | SEVEN HILLS DAIRY LLC | GOODLAND, IN | First Merchants Bank |
| $150,000–350,000 | SEWER AND WATER SPECIALIST, INC. | MONROE, MI | First Merchants Bank |
| $350,000–1 million | SHARES, INC. | SHELBYVILLE, IN | First Merchants Bank |
| $150,000–350,000 | SHAW CONSTRUCTION & MANAGEMENT | LIVONIA, MI | First Merchants Bank |
| $1–2 million | SHC, LLCA | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SHELBY BOTTLED GAS CORP | SHELBYVILLE, IN | First Merchants Bank |
| $350,000–1 million | SHELBY COUNTY FARM BUREAU CO-OPERATIVE ASSOCIATION, INC. | SHELBYVILLE, IN | First Merchants Bank |
| $350,000–1 million | SIEB PLUMBING & HEATING INC. | MONROE, MI | First Merchants Bank |
| $350,000–1 million | SIGN CRAFT INDUSTRIES, INC. DBA QUICKSIGN | INDIANAPOLIS, IN | First Merchants Bank |
| $1–2 million | SILVERSPHERE, LLC | DAYTONA BEACH, FL | First Merchants Bank |
| $150,000–350,000 | SIMONE & LOWE, LLC | GROVE CITY, OH | First Merchants Bank |
| $350,000–1 million | SIMONXPRESS PIZZA, LLC | WATERFORD, MI | First Merchants Bank |
| $150,000–350,000 | SIMPLICITY CONTRACTING INC | CARMEL, IN | First Merchants Bank |
| $350,000–1 million | SIPES ASPHALT SOLUTIONS CO. | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SITE WORKS, LLC | ZIONSVILLE, IN | First Merchants Bank |
| $150,000–350,000 | SITES MEDICAL, LLC | COLUMBIA CITY, IN | First Merchants Bank |
| $150,000–350,000 | SIX FEET UP INC | NEW PALESTINE, IN | First Merchants Bank |
| $150,000–350,000 | SKYLINE OF INDIANA INC. | MUNCIE, IN | First Merchants Bank |
| $350,000–1 million | SMALL ENGINE WAREHOUSE, INC. | MUNCIE, IN | First Merchants Bank |
| $150,000–350,000 | SMARI. LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $5–10 million | SMITH BROTHERS OF BERNE, INC. | BERNE, IN | First Merchants Bank |
| $150,000–350,000 | SNN, INC. | MUNSTER, IN | First Merchants Bank |
| $150,000–350,000 | SNYDER & LEHNEN SHEET METAL INC | LAFAYETTE, IN | First Merchants Bank |
| $150,000–350,000 | SOCIAL HOUSE 103 LLC | DUNDEE, MI | First Merchants Bank |
| $350,000–1 million | SOIL EXPLORATION SERVICES, INC. | FORT WAYNE, IN | First Merchants Bank |
| $2–5 million | SOMERSET CPAS, P.C. | INDIANAPOLIS, IN | First Merchants Bank |
| $350,000–1 million | SOROS CLINICAL SOLUTIONS LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SORTING & PACKAGING UNLIMITED, INC | GAHANNA, OH | First Merchants Bank |
| $150,000–350,000 | SOUND MANAGEMENT, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $350,000–1 million | SOURCETECH, INC. | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | SOUTH SUBURBAN HUMANE SOCIETY | CHICAGO HEIGHTS, IL | First Merchants Bank |
| $2–5 million | SPECIALTY MANUFACTURERS, INC. | CARMEL, IN | First Merchants Bank |
| $1–2 million | SPECIALTY TILE PRODUCTS INC | NORCROSS, GA | First Merchants Bank |