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County20th of 83 in Michigan by approvalsFIPS 26017
SBA loans in Bay County, Michigan
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Bay County, Michigan, received 112 SBA loan approvals worth $40.4M in FY2021 to FY2025 (104 7(a), 8 504).
That is 54.8 approvals per 1,000 business establishments (2,044 establishments in 2023), close to the Michigan figure of 55.8 and above the national 41.0.
It ranks 20th of 83 Michigan counties with approvals. In FY2025 there were 18, down 28% on FY2024.
26 lenders had approvals here; the most active were The Huntington National Bank (52), 1st State Bank (14) and ChoiceOne Bank (10). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Bay County
By number of approvals to businesses in the county, FY2021–FY2025; 26 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 52 | $8.7M | 46.4% | |
| 2 | 1st State BankSaginaw, MI | 14 | $5.6M | 12.5% | |
| 3 | ChoiceOne BankSparta, MI | 10 | $3.3M | 8.9% | |
| 4 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 7 | $3.0M | 6.3% | |
| 5 | Newtek Small Business Finance, Inc.Lake Success, NY | 3 | $1.5M | 2.7% | |
| 6 | Fifth Third BankCincinnati, OH | 2 | — | 1.8% | |
| 7 | Open BankLos Angeles, CA | 2 | — | 1.8% | |
| 8 | Wildfire Credit UnionSaginaw, MI | 2 | — | 1.8% | |
| 9 | Independent BankGrand Rapids, MI | 2 | — | 1.8% | |
| 10 | PNC Bank, National AssociationWilmington, DE | 2 | — | 1.8% | |
| 11 | Enterprise Bank & TrustClayton, MO | 1 | — | 0.9% | |
| 12 | Banc of CaliforniaLos Angeles, CA | 1 | — | 0.9% | |
| 13 | Shoreham BankWarwick, RI | 1 | — | 0.9% | |
| 14 | Team One CUSaginaw, MI | 1 | — | 0.9% | |
| 15 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 0.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 8 | 7.1% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 8 | 7.1% | |
| 3 | Traveler AccommodationNAICS 7211 | 7 | 6.3% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 6 | 5.4% | |
| 5 | Offices of Other Health PractitionersNAICS 6213 | 6 | 5.4% | |
| 6 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 6 | 5.4% | |
| 7 | Offices of PhysiciansNAICS 6211 | 5 | 4.5% | |
| 8 | General Freight TruckingNAICS 4841 | 5 | 4.5% | |
| 9 | Automotive Parts, Accessories, and Tire StoresNAICS 4413 | 4 | 3.6% | |
| 10 | Residential Building ConstructionNAICS 2361 | 4 | 3.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 20 | 17.9% | |
| 2 | Accommodation and Food Services | 19 | 17.0% | |
| 3 | Construction | 17 | 15.2% | |
| 4 | Other Services (except Public Administration) | 13 | 11.6% | |
| 5 | Retail Trade | 12 | 10.7% | |
| 6 | Manufacturing | 11 | 9.8% | |
| 7 | Finance and Insurance | 6 | 5.4% | |
| 8 | Transportation and Warehousing | 6 | 5.4% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 12 | $4.7M | $50K | 0 | — | 12 | 64 |
| FY2025 | 17 | $8.6M | $100K | 1 | — | 18 | 309 |
| FY2024 | 22 | $6.9M | $142K | 3 | $1.0M | 25 | 170 |
| FY2023 | 23 | $2.9M | $50K | 1 | — | 24 | 210 |
| FY2022 | 18 | $11.0M | $377K | 2 | — | 20 | 279 |
| FY2021 | 24 | $7.4M | $190K | 1 | — | 25 | 194 |
| FY2020 | 9 | $2.5M | $100K | 2 | — | 11 | 98 |
| FY2019 | 14 | $3.3M | $126K | 1 | — | 15 | 100 |
| FY2018 | 7 | $5.1M | $55K | 0 | — | 7 | 51 |
| FY2017 | 21 | $5.4M | $86K | 1 | — | 22 | 192 |
| FY2016 | 14 | $2.2M | $133K | 3 | $837K | 17 | 112 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 72 approvals.
Against Michigan and the country
| FY2021–FY2025 | Bay County | Michigan | United States |
|---|---|---|---|
| Approvals | 112 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 54.8 | 55.8 | 41.0 |
| Median 7(a) approval | $144K | $125K | $190K |
| Median 504 approval | $436K | $540K | $657K |
| Average approval | $361K | $415K | $573K |
| 504 share of approvals | 7.1% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 10.4 | 9.4 | 10.5 |
| Share of state approvals | 0.9% | 100.0% | — |
Approval sizes
- $50,000 or less27.7%31
- $50,001 to $150,00024.1%27
- $150,001 to $350,00018.8%21
- $350,001 to $1 million22.3%25
- $1 million to $2 million3.6%4
- Over $2 million3.6%4
Age of the businesses
- Existing, more than 2 years old66.1%74
- New business, 2 years or less7.1%8
- Startup, loan funds will open the business19.6%22
- Change of ownership7.1%8
Questions and answers
Which lenders make the most SBA loans in Bay County?
By approvals in FY2021 to FY2025: The Huntington National Bank (52), 1st State Bank (14), ChoiceOne Bank (10), Michigan Certified Development Corporation (7), Newtek Small Business Finance, Inc. (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Bay County?
The median 7(a) approval was $144K and the median 504 approval $436K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Bay County?
Restaurants and Other Eating Places (8); Other Specialty Trade Contractors (8); Traveler Accommodation (7); Automotive Repair and Maintenance (6); Offices of Other Health Practitioners (6).
Is SBA lending in Bay County rising?
Approvals in the three latest complete fiscal years total 67, against 56 in the three before: rising (+20%).
How does Bay County compare with the rest of Michigan?
54.8 approvals per 1,000 establishments against 55.8 statewide, and 112 of the state's 12,809 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error