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Small businesses are booming in one American city and it’s not new york city, los angeles Or chicago,
Indianapolis is the fastest growing metro area small businessaccording to a report Published last week from commercial lender BlueVine. The report’s rankings are based on a year-over-year comparison of the total number of BlueVine funding applications in a given metropolitan area.
The company surveyed 1,067 company stakeholders from small businesses with annual revenues between $50,000 to $5 million and more than 200,000 active BlueVine accounts. like big cities new york Rob Purcell, senior public relations manager at BlueVine, wrote in an article that Los Angeles and Los Angeles had the most applications, but it was the smaller cities that showed the biggest growth. Analysis of the results.
“As expected, large cities that have historically led business growth continue to drive small business activity. New York, Los Angeles, Houston and Chicago remain in the top six for the most BlueVine account applications for 2025,” Purcell wrote. “But as we looked deeper, another interesting trend emerged – smaller metros saw tremendous growth in BlueVine account openings.”
The study also found that while funding applications are increasing in some cities, there is a sense of unease and stress among small business owners.
Indianapolis is far ahead of other cities
The study found that Indianapolis’s BlueVine small business financing applications increased by 361 percent, or 161 percentage points more than the second-fastest growing small business city, Columbus, Ohio.
Washington, DC, was third on BlueVine’s list with a growth rate of 175 percent. The lender said it saw a significant increase in applications from the DC metro area in the wake of the government shutdown.
“Application levels in Washington, D.C., exploded around the same time the massive federal layoffs were announced, with the metro ending up with the third-highest number of applications in 2025, behind New York and Los Angeles,” the report said.
Small businesses are still struggling
BlueVine’s study found that many small businesses applying for loans in 2025 face strong financial constraints. BlueVine said more than four in 10 said they were dealing with higher operating costs.
Another 31 percent said they found the rising cost of goods sold a challenge.
Business owners seem to be managing the pressures as best they can, with many respondents saying they question whether running their company is worth it, not taking a full day off every week, delaying paying themselves and sacrificing important areas of their lives.
Bluevine said, “Some survey participants saw greater personal harm from day-to-day ownership: Nearly half (49.2 percent) of respondents said they regularly question whether running their business is worth it, 21.6 percent said they don’t take a full day off per week, 60.3 percent reported delays in paying themselves, and 77.5 percent reported major sacrifices impacting their health, relationships, and financial stability. Gave.