SBA 7(a) loans in Michigan
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data [source] · File as of September 30, 2026 · Loans approved in federal fiscal years 2024–2026 (Oct 2023 – Sept 2026) · Imported November 4, 2026
5,914loans approved
$150,000median loan
$50K–$400Kmiddle half of loans
$2.5Btotal approved
10%median initial rate
10 yrsmedian term
The median Michigan loan is 14% smaller than the national median of $175,000.
Loan sizes
Top industries
| Industry (NAICS) | Loans | Median |
|---|---|---|
| Full-Service Restaurants (722511) | 269 | $179,900 |
| Limited-Service Restaurants (722513) | 224 | $300,000 |
| General Freight Trucking, Long-Distance, Truckload (484121) | 173 | $48,600 |
| Residential Remodelers (236118) | 159 | $75,000 |
| Landscaping Services (561730) | 139 | $84,100 |
| All Other Specialty Trade Contractors (238990) | 135 | $110,000 |
| General Freight Trucking, Local (484110) | 117 | $50,000 |
| Beer, Wine, and Liquor Retailers (445320) | 114 | $800,350 |
| Plumbing, Heating, and Air-Conditioning Contractors (238220) | 113 | $110,000 |
| Snack and Nonalcoholic Beverage Bars (722515) | 92 | $150,000 |
Most active lenders in Michigan
| Lender | Loans | Median | Total |
|---|---|---|---|
| The Huntington National Bank | 2,678 | $55,000 | $460.3M |
| Fifth Third Bank | 249 | $250,000 | $164.3M |
| Newtek Bank, National Association | 188 | $177,500 | $81.8M |
| Live Oak Banking Company | 148 | $560,000 | $181.6M |
| Readycap Lending, LLC | 139 | $50,000 | $35.7M |
| Choiceone Bank | 135 | $350,000 | $85.6M |
| Northeast Bank | 132 | $117,700 | $19.2M |
| JPMorgan Chase Bank, National Association | 125 | $200,000 | $40.7M |
| Horizon Bank | 123 | $252,000 | $56.7M |
| Independent Bank | 97 | $492,000 | $82.8M |
SBA 504 loans in Michigan
504 loans finance real estate and major equipment through a Certified Development Company (CDC). Approved FY2024–FY2026, file as of September 30, 2026 [source].
383504 loans approved
$619,000median CDC portion
$375.1Mtotal CDC portion
What these 504 amounts cover: only the SBA-backed CDC portion of each project (typically up to 40%). A bank first loan and the borrower's down payment make up the rest, so total project costs are larger.
Most active CDCs in Michigan
| Lender | Loans | Median | Total |
|---|---|---|---|
| Michigan Certified Development Corporation | 196 | $679,000 | $206.3M |
| Great Lakes Commercial Finance | 143 | $583,000 | $130.2M |
| Oakland County Business Finance Corporation | 27 | $514,000 | $27.0M |
| Business Development Corporation (Bdc) | 11 | $325,000 | $5.0M |
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What this data does — and doesn't — tell you
- Approvals, not applications. These are loans SBA approved. The data has no denials, so it cannot tell you your odds of approval.
- Loan size is not startup cost. 7(a) loans also pay for buying existing businesses, real estate, equipment, refinancing and working capital.
- Gross approval amount. Figures are the full approved loan, including the part SBA does not guarantee. Some approved loans are later reduced or never fully disbursed.
- Industry codes are assigned at approval (NAICS) and can be imprecise — a mobile detailer may be coded as a car wash, for example.
- Medians beat averages here: a few very large loans pull averages up. We show the median and the middle half (25th–75th percentile).
- No default rates. Most recent loans are still being repaid, so charge-off rates for these years would be misleading. We don't show them.
- Cancelled loans are excluded, and any group with fewer than 10 loans is hidden. We never publish borrower names.
- Lender counts aren't a quality rating. Big national lenders make many small loans; local lenders may know your market better. Talk to several, or use SBA Lender Match.