Geography · SBA lending record
SBA lenders in Michigan
8,935 SBA 7(a) loans in the last five years, from 233 different lenders. Here is who actually lends here.
Who lends here most
last 5 fiscal years| Lender | Loans in MI | Typical loan | Median rate |
|---|---|---|---|
| The Huntington National Bank | 4,483 | $56k | P+2.18 |
| Fifth Third Bank | 395 | $245k | P+1.46 |
| ChoiceOne Bank | 270 | $305k | P+1.19 |
| Newtek Bank, National Association | 180 | $200k | P+3.42 |
| Live Oak Banking Company | 174 | $775k | P+1.68 |
| Readycap Lending, LLC | 152 | $104k | P+4.54 |
| JPMorgan Chase Bank, National Association | 150 | $200k | P+3.45 |
| BayFirst National Bank | 140 | $150k | P+4.13 |
| Northeast Bank | 131 | $95k | P+2.98 |
| Horizon Bank | 130 | $251k | P+0.95 |
The Huntington National Bank alone writes 50% of the SBA loans in Michigan. That is worth knowing both ways — they clearly know this market, and you should still get a second quote, because a dominant lender has little reason to sharpen its pencil.
Volume is not quality — but a lender who does hundreds of deals in your state knows your market, and probably your industry too.
What gets funded here
by industryHow big the loans are
If your need sits in a band that barely exists here, widen your search to national lenders rather than assuming nobody will do it.
SBA 504 lending in Michigan
504 FOIA recordA 504 loan pairs a bank first mortgage with a fixed-rate second through a Certified Development Company — used mostly for owner-occupied property and heavy equipment. Here is who runs 504 deals in Michigan, and how they have performed.
CDCs most active in Michigan
- Michigan Certified Development Corporation — 1,747 loans
- Great Lakes Commercial Finance — 981 loans
- Oakland County Business Finance Corporation — 329 loans
- Business Development Corporation (BDC) — 36 loans
- WBD, Inc. — 5 loans
- Community Development Corporation of Fort Wayne — 4 loans
Most-financed here: Full-Service Restaurants, Offices of Physicians, Offices of Lawyers, Machine Shops.
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SBA lending in other states
States with comparable volume, plus the three largest markets.