| $150,000–350,000 | LCC PARTNERS, LLC | LAFAYETTE, IN | First Merchants Bank |
| $350,000–1 million | LEADERS MOVING COMPANY | WORTHINGTON, OH | First Merchants Bank |
| $1–2 million | LEADING EDJE LLC | COLUMBUS, OH | First Merchants Bank |
| $150,000–350,000 | LEAGUE FOR THE BLIND AND DISABLED, INC | FORT WAYNE, IN | First Merchants Bank |
| $1–2 million | LEEP'S SUPPLY COMPANY, INC. | MERRILLVILLE, IN | First Merchants Bank |
| $150,000–350,000 | LEGACY DENTAL, LLC | FORT WAYNE, IN | First Merchants Bank |
| $350,000–1 million | LEHMAN'S OF ANDERSON | ANDERSON, IN | First Merchants Bank |
| $150,000–350,000 | LETT | MUNCIE, IN | First Merchants Bank |
| $150,000–350,000 | LEVEL UP DEVELOPMENT LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $350,000–1 million | LEWIS SPRING & MFG. COMPANY | NILES, IL | First Merchants Bank |
| $350,000–1 million | LF ILLUMINATION, LLC | CHATSWORTH, CA | First Merchants Bank |
| $150,000–350,000 | LHP TELEMATICS LLC | WESTFIELD, IN | First Merchants Bank |
| $150,000–350,000 | LIBERTY PROVIDER LLC | TOLEDO, OH | First Merchants Bank |
| $150,000–350,000 | LIBERTY PROVIDERS LLC | MONROE, MI | First Merchants Bank |
| $350,000–1 million | LIFESTYLES HOMECARE LLC | CHESTERFIELD, IN | First Merchants Bank |
| $150,000–350,000 | LINCOLN FIRE PROTECTION INC. | SOUTH ROCKWOOD, MI | First Merchants Bank |
| $350,000–1 million | LIONSHEAD PRECISION METALS, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $1–2 million | LIONSHEAD SPECIALTY TIRE & WHE | GOSHEN, IN | First Merchants Bank |
| $150,000–350,000 | LITESENTRY, LLC | NORTHFIELD, MN | First Merchants Bank |
| $350,000–1 million | LITTLETON & SONS SAND & SUPPLY | INDIANAPOLIS, IN | First Merchants Bank |
| $350,000–1 million | LIVESTOCK HEALTH SOLUTIONS, LLC | FRESNO, CA | First Merchants Bank |
| $350,000–1 million | LOCKE TRANSPORTATION, INC. | CHICAGO, IL | First Merchants Bank |
| $350,000–1 million | LOGIC SOFT, INC | DUBLIN, OH | First Merchants Bank |
| $150,000–350,000 | LOMA TRUCKING & LANDSCAPE SUPPLIES, INCORPORATED | BELLEVILLVE, MI | First Merchants Bank |
| $350,000–1 million | LONG MECHANICAL INC. | NORTHVILLE, MI | First Merchants Bank |
| $150,000–350,000 | LOVING CARE HOME CARE, LLC | GROSSE ILE, MI | First Merchants Bank |
| $150,000–350,000 | LOWELL ANIMAL HOSPITAL, INC. | LOWELL, IN | First Merchants Bank |
| $350,000–1 million | LRG RESTAURANTS, LLC | CARMEL, IN | First Merchants Bank |
| $350,000–1 million | LUKE OIL COMPANY, INC | HOBART, IN | First Merchants Bank |
| $350,000–1 million | LUKE TRANSPORT, INC | HOBART, IN | First Merchants Bank |
| $150,000–350,000 | LUKE'S AUTOMOTIVE SERVICES, LLC | COLUMBUS, OH | First Merchants Bank |
| $150,000–350,000 | LUPKE INSURANCE AGENCY, INC | FORT WAYNE, IN | First Merchants Bank |
| $2–5 million | LUTHERAN HOMES INC | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | M HANIF PERACHA MD PC | MONROE, MI | First Merchants Bank |
| $350,000–1 million | M-M MASONRY LLC | COLUMBUS, OH | First Merchants Bank |
| $150,000–350,000 | M.C. EIPPERLE, INC. | MONROE, MI | First Merchants Bank |
| $350,000–1 million | M.E. SIMPSON COMPANY, INC. | VALPARAISO, IN | First Merchants Bank |
| $1–2 million | M.P. DORY CO. | COLUMBUS, OH | First Merchants Bank |
| $350,000–1 million | MACDOUGALL PIERCE CONSTRUCTION, INC | FISHERS, IN | First Merchants Bank |
| $2–5 million | MACLE, INC. | FISHERS, IN | First Merchants Bank |
| $150,000–350,000 | MACOMB CHILDREN'S DENTISTRY, PLLC | MACOMB, MI | First Merchants Bank |
| $350,000–1 million | MADISON CONSTRUCTION COMPANY | ORLAND PARK, IL | First Merchants Bank |
| $150,000–350,000 | MADISON COUNTY CABINETS, INC. | PENDLETON, IN | First Merchants Bank |
| $350,000–1 million | MAGIC COIL PRODUCTS, LLC | BUTLER, IN | First Merchants Bank |
| $350,000–1 million | MAGNUM EXPRESS INC. | PLAINFIELD, IN | First Merchants Bank |
| $350,000–1 million | MAGNUM LOGISTICS, INC. | PLAINFIELD, IN | First Merchants Bank |
| $350,000–1 million | MAHALAK AUTO GROUP LAKE WALES LLC | LAKE WALES, FL | First Merchants Bank |
| $150,000–350,000 | MAHALAK AUTO GROUP LLC | WINTER HAVEN, FL | First Merchants Bank |
| $350,000–1 million | MAHALAK ENTERPRISES INC. | LAKE WALES, FL | First Merchants Bank |
| $1–2 million | MAHOMED SALES & WAREHOUSING, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | MAILING SOLUTIONS, INC. | INDIANAPOLIS, IN | First Merchants Bank |
| $350,000–1 million | MAINSTAY MANUFACTURING SOLUTIONS, INC. | BROWNSBURG, IN | First Merchants Bank |
| $350,000–1 million | MAJESTIC CUSTOM HOMES OF LAFAYETTE, INC. | LAFAYETTE, IN | First Merchants Bank |
| $150,000–350,000 | MAMMOTH, INC. | FORTVILLE, IN | First Merchants Bank |
| $2–5 million | MANLEY DEAS KOCHALKSI LLC | COLUMBUS, OH | First Merchants Bank |
| $350,000–1 million | MANOR BROS. CONCRETE WORK, INC. | ALBANY, IN | First Merchants Bank |
| $150,000–350,000 | MARCUM'S WELDING & STEEL PROCESSING, INC. | MORRISTOWN, IN | First Merchants Bank |
| $150,000–350,000 | MARK III MANAGEMENT CORPORATION | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | MARKET STREET WEALTH MANAGEMENT ADVISORS, LLC | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | MARKLEVILLE LUMBER CO. INC. | MARKLEVILLE, IN | First Merchants Bank |
| $150,000–350,000 | MARTENSON FUNERAL HOME, INC. | TRENTON, MI | First Merchants Bank |
| $150,000–350,000 | MARTIN BINDER JEWELER, INC | VALPARAISO, IN | First Merchants Bank |
| $350,000–1 million | MARTIN RILEY INC. | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | MARTINSVILLE CORRAL, INC. | MARTINSVILLE, IN | First Merchants Bank |
| $150,000–350,000 | MAS SUPPLY, INC | PINGREE GROVE, IL | First Merchants Bank |
| $150,000–350,000 | MASSERANT'S FEED & GRAIN, INC. | NEWPORT, MI | First Merchants Bank |
| $150,000–350,000 | MASTERS FINANCIAL NETWORK LLC | DUNKIRK, IN | First Merchants Bank |
| $350,000–1 million | MASTERS HEATING & COOLING INC | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | MASTIN AND CAIN PROPERTIES LLC | SHELBYVILLE, IN | First Merchants Bank |
| $350,000–1 million | MATERIALS ENGINEERING AND TECHNICAL SUPPORT SERVICES, CORP. | WESTERVILLE, OH | First Merchants Bank |
| $350,000–1 million | MATT AND RACHEL LLC | CARMEL, IN | First Merchants Bank |
| $150,000–350,000 | MATTHEW 25, INC. | FORT WAYNE, IN | First Merchants Bank |
| $150,000–350,000 | MAYFLOWER INVESTMENT GROUP, LLC | FORT WAYNE, IN | First Merchants Bank |
| $350,000–1 million | MB RAILWAY SERVICES, LLC | CHESTERTON, IN | First Merchants Bank |
| $350,000–1 million | MBM FABRICATORS CO., INC. | ROMULUS, MI | First Merchants Bank |
| $150,000–350,000 | MCAFEE ANIMAL HOSPITAL | VALPARAISO, IN | First Merchants Bank |
| $1–2 million | MCCAULEY MECHANICAL CONSTRUCTION INC | BRIDGEVIEW, IL | First Merchants Bank |
| $150,000–350,000 | MCE INVESTMENTS INC. | INDIANAPOLIS, IN | First Merchants Bank |
| $150,000–350,000 | MCGEE JEWELERS INC. | GREENWOOD, IN | First Merchants Bank |
| $1–2 million | MCKENZIE FOODS, INC | CARMEL, IN | First Merchants Bank |
| $150,000–350,000 | MCKILLIP SEEDS INCORPORATED | WABASH, IN | First Merchants Bank |
| $150,000–350,000 | MDC CABINETS LLC | NOBLESVILLE, IN | First Merchants Bank |
| $350,000–1 million | MDC CONSTRUCTION, LLC | NOBLESVILLE, IN | First Merchants Bank |
| $150,000–350,000 | MEADOW MONTESSORI SCHOOL | MONROE, MI | First Merchants Bank |
| $350,000–1 million | MEANINGFUL DAY SERVICES, INC. | BROWNSBURG, IN | First Merchants Bank |
| $150,000–350,000 | MEDALLION PARTNERS, INC | CARMEL, IN | First Merchants Bank |
| $1–2 million | MEDICAL INFORMATICS ENGINEERING, INCORPORATED | FORT WAYNE, IN | First Merchants Bank |
| $350,000–1 million | MENNIN-PINK LTD. | GROVE CITY, OH | First Merchants Bank |
| $350,000–1 million | MEREDITHS INC | RICHMOND, IN | First Merchants Bank |
| $150,000–350,000 | MERIDIAN PEDIATRICS LLC | CARMEL, IN | First Merchants Bank |
| $350,000–1 million | MERION VILLAGE DENTAL - VESHA & JANIKIAN, L.L.C. | COLUMBUS, OH | First Merchants Bank |
| $1–2 million | MESSINA CONCRETE, INC. | MONROE, MI | First Merchants Bank |
| $150,000–350,000 | METAL FAB ENGINEERING, INC. | WINAMAC, IN | First Merchants Bank |
| $350,000–1 million | METRO PLASTICS TECHNOLOGIES, INC. | NOBLESVILLE, IN | First Merchants Bank |
| $350,000–1 million | MIASA AUTOMOTIVE, LLC | YORKTOWN, IN | First Merchants Bank |
| $150,000–350,000 | MICHAEL K. AGENTER DDS MDS, LLC | LEBANON, OH | First Merchants Bank |
| $150,000–350,000 | MICHAEL L. GAMBEL MD P.C. | SOUTHGATE, MI | First Merchants Bank |
| $150,000–350,000 | MICHAEL'S FURNITURE GALLERIES, INC. | LAFAYETTE, IN | First Merchants Bank |
| $350,000–1 million | MICHAELIS CORPORATION | INDIANAPOLIS, IN | First Merchants Bank |
| $2–5 million | MICHIGAN TUBE SWAGERS & FABRICATORS, INC. | TEMPERANCE, MI | First Merchants Bank |