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SBA Lenders Actively Funding Businesses in Michigan

Since 2020, 362 different SBA lenders have approved17,667 loans for businesses in Michigan. The table below ranks the most active by loans actually made in the state, not by advertising budget. A lender headquartered elsewhere that funds heavily in Michiganbeats a local name that rarely writes SBA loans.

Most active SBA lenders in Michigan

LenderMI loans since 2020Median loanMedian rate
The Huntington National Bank6,793$95K9.5%
Michigan Certified Development Corporation1,402$405Kn/a
Great Lakes Commercial Finance791$364Kn/a
Fifth Third Bank564$200K8%
ChoiceOne Bank406$350K7%
The Huntington National Bank299$500Kn/a
Live Oak Banking Company260$785K8.35%
JPMorgan Chase Bank, National Association222$185K10.65%
Newtek Bank, National Association208$200K11.25%
JPMorgan Chase Bank, National Association184$640Kn/a
Readycap Lending, LLC170$150K11.25%
Horizon Bank159$244K8.46%
BayFirst National Bank158$150K12.25%
Northeast Bank149$103K10.75%
First Internet Bank of Indiana146$816K10%
United Midwest Savings Bank National Association144$150K9.75%
PNC Bank, National Association140$50K9.4%
Celtic Bank Corporation130$150K10.25%
Old National Bank127$500K7.5%
KeyBank National Association122$100K9.24%
Independent Bank102$390K8.62%
First Merchants Bank95$375K9.5%
Byline Bank84$800K9.5%
Nicolet National Bank77$305K5.95%
Bank of America, National Association61$332K6.5%

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Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records. Loan counts reflect projects located in Michigan. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.