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County34th of 83 in Michigan by approvalsFIPS 26067
SBA loans in Ionia 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 Ionia County, Michigan, received 48 SBA loan approvals worth $8.7M in FY2021 to FY2025 (43 7(a), 5 504).
That is 53.1 approvals per 1,000 business establishments (904 establishments in 2023), close to the Michigan figure of 55.8 and above the national 41.0.
It ranks 34th of 83 Michigan counties with approvals. In FY2025 there were 13, up 18% on FY2024.
12 lenders had approvals here; the most active were The Huntington National Bank (30), Great Lakes Commercial Finance (3) and PFCU (3). The most common industry was building finishing contractors.
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 Ionia County
By number of approvals to businesses in the county, FY2021–FY2025; 12 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 30 | $1.8M | 62.5% | |
| 2 | Great Lakes Commercial FinanceGrandville, MI · CDC | 3 | $2.7M | 6.3% | |
| 3 | PFCUPortland, MI | 3 | $832K | 6.3% | |
| 4 | Horizon BankMichigan City, IN | 2 | — | 4.2% | |
| 5 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 2 | — | 4.2% | |
| 6 | Northeast BankLewiston, ME | 2 | — | 4.2% | |
| 7 | ChoiceOne BankSparta, MI | 1 | — | 2.1% | |
| 8 | Lake Trust CUBrighton, MI | 1 | — | 2.1% | |
| 9 | Citizens BankElizabethton, TN | 1 | — | 2.1% | |
| 10 | CASE CULansing, MI | 1 | — | 2.1% | |
| 11 | BayFirst National BankSaint Petersburg, FL | 1 | — | 2.1% | |
| 12 | Newtek Bank, National AssociationMiami, FL | 1 | — | 2.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Finishing ContractorsNAICS 2383 | 6 | 12.5% | |
| 2 | Continuing Care Retirement Communities and Assisted Living Facilities for the ElderlyNAICS 6233 | 5 | 10.4% | |
| 3 | Residential Building ConstructionNAICS 2361 | 5 | 10.4% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 8.3% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 8.3% | |
| 6 | Other Miscellaneous RetailersNAICS 4599 | 2 | 4.2% | |
| 7 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 2 | 4.2% | |
| 8 | Business Support ServicesNAICS 5614 | 2 | 4.2% | |
| 9 | Other Crop FarmingNAICS 1119 | 2 | 4.2% | |
| 10 | Highway, Street, and Bridge ConstructionNAICS 2373 | 1 | 2.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 16 | 33.3% | |
| 2 | Health Care and Social Assistance | 7 | 14.6% | |
| 3 | Accommodation and Food Services | 5 | 10.4% | |
| 4 | Other Services (except Public Administration) | 5 | 10.4% | |
| 5 | Retail Trade | 4 | 8.3% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 3 | 6.3% | |
| 7 | Manufacturing | 2 | 4.2% | |
| 8 | Agriculture, Forestry, Fishing and Hunting | 2 | 4.2% |
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* | 11 | $6.1M | $400K | 0 | — | 11 | 62 |
| FY2025 | 12 | $2.2M | $47K | 1 | — | 13 | 57 |
| FY2024 | 10 | $890K | $50K | 1 | — | 11 | 27 |
| FY2023 | 10 | $1.4M | $80K | 0 | — | 10 | 38 |
| FY2022 | 3 | $147K | $40K | 2 | — | 5 | 18 |
| FY2021 | 8 | $1.0M | $25K | 1 | — | 9 | 54 |
| FY2020 | 3 | $4.0M | $300K | 0 | — | 3 | 3 |
| FY2019 | 11 | $2.6M | $90K | 1 | — | 12 | 56 |
| FY2018 | 17 | $5.6M | $149K | 1 | — | 18 | 241 |
| FY2017 | 12 | $959K | $41K | 1 | — | 13 | 32 |
| FY2016 | 4 | $575K | $45K | 0 | — | 4 | 26 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 50 approvals.
Against Michigan and the country
| FY2021–FY2025 | Ionia County | Michigan | United States |
|---|---|---|---|
| Approvals | 48 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 53.1 | 55.8 | 41.0 |
| Median 7(a) approval | $50K | $125K | $190K |
| Median 504 approval | $200K | $540K | $657K |
| Average approval | $182K | $415K | $573K |
| 504 share of approvals | 10.4% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 4.0 | 9.4 | 10.5 |
| Share of state approvals | 0.4% | 100.0% | — |
Approval sizes
- $50,000 or less47.9%23
- $50,001 to $150,00027.1%13
- $150,001 to $350,00010.4%5
- $350,001 to $1 million12.5%6
- Over $2 million2.1%1
Age of the businesses
- Existing, more than 2 years old66.7%32
- New business, 2 years or less14.6%7
- Startup, loan funds will open the business16.7%8
- Change of ownership2.1%1
Questions and answers
Which lenders make the most SBA loans in Ionia County?
By approvals in FY2021 to FY2025: The Huntington National Bank (30), Great Lakes Commercial Finance (3), PFCU (3), Horizon Bank (2), Michigan Certified Development Corporation (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Ionia County?
The median 7(a) approval was $50K and the median 504 approval $200K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Ionia County?
Building Finishing Contractors (6); Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (5); Residential Building Construction (5); Restaurants and Other Eating Places (4); Automotive Repair and Maintenance (4).
Is SBA lending in Ionia County rising?
Approvals in the three latest complete fiscal years total 34, against 17 in the three before: rising (+100%).
How does Ionia County compare with the rest of Michigan?
53.1 approvals per 1,000 establishments against 55.8 statewide, and 48 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