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County30th of 83 in Michigan by approvalsFIPS 26089
SBA loans in Leelanau 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.
SBA approved 60 loans to businesses in Leelanau County, Michigan, in FY2021 to FY2025, worth $36.3M: 45 under 7(a) and 15 under 504.
That is 75.4 approvals per 1,000 business establishments (796 establishments in 2023), above the Michigan figure of 55.8 and above the national 41.0.
It ranks 30th of 83 Michigan counties with approvals. In FY2025 there were 7, down 53% on FY2024.
19 lenders had approvals here; the most active were The Huntington National Bank (19), Great Lakes Commercial Finance (11) and Michigan Certified Development Corporation (4). The most common industry was other wood product manufacturing.
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 Leelanau County
By number of approvals to businesses in the county, FY2021–FY2025; 19 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 19 | $2.7M | 31.7% | |
| 2 | Great Lakes Commercial FinanceGrandville, MI · CDC | 11 | $5.0M | 18.3% | |
| 3 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 4 | $3.7M | 6.7% | |
| 4 | 4Front Credit UnionTraverse City, MI | 4 | $1.1M | 6.7% | |
| 5 | West Shore BankLudington, MI | 3 | $978K | 5.0% | |
| 6 | Old National BankEvansville, IN | 2 | — | 3.3% | |
| 7 | Lake Michigan CUGrand Rapids, MI | 2 | — | 3.3% | |
| 8 | KeyBank National AssociationCleveland, OH | 2 | — | 3.3% | |
| 9 | Colony BankFitzgerald, GA | 2 | — | 3.3% | |
| 10 | Celtic Bank CorporationSalt Lake City, UT | 2 | — | 3.3% | |
| 11 | TBA CUTraverse City, MI | 1 | — | 1.7% | |
| 12 | Nicolet National BankGreen Bay, WI | 1 | — | 1.7% | |
| 13 | First National Bank of PennsylvaniaGreenville, PA | 1 | — | 1.7% | |
| 14 | Live Oak Banking CompanyWilmington, NC | 1 | — | 1.7% | |
| 15 | State Savings BankFrankfort, MI | 1 | — | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Wood Product ManufacturingNAICS 3219 | 6 | 10.0% | |
| 2 | Traveler AccommodationNAICS 7211 | 5 | 8.3% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 6.7% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 4 | 6.7% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 5.0% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 3 | 5.0% | |
| 7 | Residential Building ConstructionNAICS 2361 | 3 | 5.0% | |
| 8 | Lessors of Real EstateNAICS 5311 | 2 | 3.3% | |
| 9 | Specialty Food StoresNAICS 4452 | 2 | 3.3% | |
| 10 | Building Material and Supplies DealersNAICS 4441 | 2 | 3.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 12 | 20.0% | |
| 2 | Manufacturing | 11 | 18.3% | |
| 3 | Accommodation and Food Services | 11 | 18.3% | |
| 4 | Construction | 6 | 10.0% | |
| 5 | Arts, Entertainment, and Recreation | 4 | 6.7% | |
| 6 | Health Care and Social Assistance | 4 | 6.7% | |
| 7 | Real Estate and Rental and Leasing | 3 | 5.0% | |
| 8 | Other Services (except Public Administration) | 3 | 5.0% |
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* | 1 | — | — | 0 | — | 1 | 25 |
| FY2025 | 4 | $1.1M | $145K | 3 | $3.0M | 7 | 105 |
| FY2024 | 13 | $8.0M | $85K | 2 | — | 15 | 102 |
| FY2023 | 5 | $370K | $50K | 2 | — | 7 | 35 |
| FY2022 | 13 | $10.0M | $400K | 3 | $687K | 16 | 159 |
| FY2021 | 10 | $8.2M | $344K | 5 | $1.5M | 15 | 91 |
| FY2020 | 7 | $4.7M | $586K | 3 | $1.5M | 10 | 77 |
| FY2019 | 7 | $2.8M | $253K | 2 | — | 9 | 106 |
| FY2018 | 13 | $2.4M | $125K | 6 | $3.3M | 19 | 75 |
| FY2017 | 7 | $6.5M | $175K | 1 | — | 8 | 78 |
| FY2016 | 8 | $1.3M | $78K | 1 | — | 9 | 33 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 55 approvals.
Against Michigan and the country
| FY2021–FY2025 | Leelanau County | Michigan | United States |
|---|---|---|---|
| Approvals | 60 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 75.4 | 55.8 | 41.0 |
| Median 7(a) approval | $150K | $125K | $190K |
| Median 504 approval | $285K | $540K | $657K |
| Average approval | $604K | $415K | $573K |
| 504 share of approvals | 25.0% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 8.2 | 9.4 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less20.0%12
- $50,001 to $150,00026.7%16
- $150,001 to $350,00020.0%12
- $350,001 to $1 million15.0%9
- $1 million to $2 million8.3%5
- Over $2 million10.0%6
Age of the businesses
- Existing, more than 2 years old70.0%42
- New business, 2 years or less8.3%5
- Startup, loan funds will open the business8.3%5
- Change of ownership13.3%8
Questions and answers
Which lenders make the most SBA loans in Leelanau County?
By approvals in FY2021 to FY2025: The Huntington National Bank (19), Great Lakes Commercial Finance (11), Michigan Certified Development Corporation (4), 4Front Credit Union (4), West Shore Bank (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Leelanau County?
The median 7(a) approval was $150K and the median 504 approval $285K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Leelanau County?
Other Wood Product Manufacturing (6); Traveler Accommodation (5); Other Amusement and Recreation Industries (4); Offices of Other Health Practitioners (4); Restaurants and Other Eating Places (3).
Is SBA lending in Leelanau County rising?
Approvals in the three latest complete fiscal years total 29, against 41 in the three before: falling (-29%).
How does Leelanau County compare with the rest of Michigan?
75.4 approvals per 1,000 establishments against 55.8 statewide, and 60 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