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County45th of 83 in Michigan by approvalsFIPS 26031
SBA loans in Cheboygan 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 Cheboygan County, Michigan, received 35 SBA loan approvals worth $22.7M in FY2021 to FY2025 (30 7(a), 5 504).
That is 45.5 approvals per 1,000 business establishments (770 establishments in 2023), below the Michigan figure of 55.8 and close to the national 41.0.
It ranks 45th of 83 Michigan counties with approvals. In FY2025 there were 7.
12 lenders had approvals here; the most active were Citizens National Bank of Cheboygan (15), The Huntington National Bank (5) and Great Lakes Commercial Finance (4). The most common industry was traveler accommodation.
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 Cheboygan County
By number of approvals to businesses in the county, FY2021–FY2025; 12 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Citizens National Bank of CheboyganCheboygan, MI | 15 | $4.4M | 42.9% | |
| 2 | The Huntington National BankColumbus, OH | 5 | $5.9M | 14.3% | |
| 3 | Great Lakes Commercial FinanceGrandville, MI · CDC | 4 | $1.4M | 11.4% | |
| 4 | First Internet Bank of IndianaFishers, IN | 2 | — | 5.7% | |
| 5 | PNC Bank, National AssociationWilmington, DE | 2 | — | 5.7% | |
| 6 | West Shore BankLudington, MI | 1 | — | 2.9% | |
| 7 | GBankLas Vegas, NV | 1 | — | 2.9% | |
| 8 | 4Front Credit UnionTraverse City, MI | 1 | — | 2.9% | |
| 9 | Ameris BankAtlanta, GA | 1 | — | 2.9% | |
| 10 | Independent BankGrand Rapids, MI | 1 | — | 2.9% | |
| 11 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.9% | |
| 12 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 1 | — | 2.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Traveler AccommodationNAICS 7211 | 4 | 11.4% | |
| 2 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 4 | 11.4% | |
| 3 | Other Specialty Trade ContractorsNAICS 2389 | 4 | 11.4% | |
| 4 | Other Motor Vehicle DealersNAICS 4412 | 2 | 5.7% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 2 | 5.7% | |
| 6 | Lessors of Real EstateNAICS 5311 | 2 | 5.7% | |
| 7 | Grocery and Related Product Merchant WholesalersNAICS 4244 | 2 | 5.7% | |
| 8 | Animal Slaughtering and ProcessingNAICS 3116 | 2 | 5.7% | |
| 9 | Business Support ServicesNAICS 5614 | 1 | 2.9% | |
| 10 | Home Health Care ServicesNAICS 6216 | 1 | 2.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 10 | 28.6% | |
| 2 | Construction | 7 | 20.0% | |
| 3 | Retail Trade | 4 | 11.4% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 3 | 8.6% | |
| 5 | Manufacturing | 3 | 8.6% | |
| 6 | Real Estate and Rental and Leasing | 2 | 5.7% | |
| 7 | Wholesale Trade | 2 | 5.7% | |
| 8 | Health Care and Social Assistance | 1 | 2.9% |
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* | 2 | — | — | 0 | — | 2 | 44 |
| FY2025 | 6 | $1.5M | $221K | 1 | — | 7 | 214 |
| FY2024 | 5 | $8.0M | $954K | 0 | — | 5 | 25 |
| FY2023 | 3 | $856K | $305K | 0 | — | 3 | 36 |
| FY2022 | 8 | $6.7M | $306K | 1 | — | 9 | 66 |
| FY2021 | 8 | $4.2M | $295K | 3 | $1.0M | 11 | 205 |
| FY2020 | 6 | $6.7M | $1.1M | 0 | — | 6 | 59 |
| FY2019 | 4 | $1.2M | $190K | 0 | — | 4 | 21 |
| FY2018 | 7 | $2.3M | $219K | 1 | — | 8 | 48 |
| FY2017 | 3 | $310K | $113K | 2 | — | 5 | 18 |
| FY2016 | 4 | $1.1M | $172K | 1 | — | 5 | 78 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 28 approvals.
Against Michigan and the country
| FY2021–FY2025 | Cheboygan County | Michigan | United States |
|---|---|---|---|
| Approvals | 35 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 45.5 | 55.8 | 41.0 |
| Median 7(a) approval | $319K | $125K | $190K |
| Median 504 approval | $314K | $540K | $657K |
| Average approval | $648K | $415K | $573K |
| 504 share of approvals | 14.3% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 15.6 | 9.4 | 10.5 |
| Share of state approvals | 0.3% | 100.0% | — |
Approval sizes
- $50,000 or less11.4%4
- $50,001 to $150,00017.1%6
- $150,001 to $350,00034.3%12
- $350,001 to $1 million25.7%9
- $1 million to $2 million2.9%1
- Over $2 million8.6%3
Age of the businesses
- Existing, more than 2 years old45.7%16
- New business, 2 years or less22.9%8
- Startup, loan funds will open the business17.1%6
- Change of ownership14.3%5
Questions and answers
Which lenders make the most SBA loans in Cheboygan County?
By approvals in FY2021 to FY2025: Citizens National Bank of Cheboygan (15), The Huntington National Bank (5), Great Lakes Commercial Finance (4), First Internet Bank of Indiana (2), PNC Bank, National Association (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Cheboygan County?
The median 7(a) approval was $319K and the median 504 approval $314K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Cheboygan County?
Traveler Accommodation (4); RV (Recreational Vehicle) Parks and Recreational Camps (4); Other Specialty Trade Contractors (4); Other Motor Vehicle Dealers (2); Restaurants and Other Eating Places (2).
Is SBA lending in Cheboygan County rising?
Approvals in the three latest complete fiscal years total 15, against 26 in the three before: falling (-42%).
How does Cheboygan County compare with the rest of Michigan?
45.5 approvals per 1,000 establishments against 55.8 statewide, and 35 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