States › Michigan › Newaygo County
County32nd of 83 in Michigan by approvalsFIPS 26123
SBA loans in Newaygo 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 Newaygo County, Michigan, received 57 SBA loan approvals worth $20.1M in FY2021 to FY2025 (54 7(a), 3 504).
That is 68.8 approvals per 1,000 business establishments (829 establishments in 2023), above the Michigan figure of 55.8 and above the national 41.0.
It ranks 32nd of 83 Michigan counties with approvals. In FY2025 there were 15, about level with FY2024.
11 lenders had approvals here; the most active were The Huntington National Bank (38), Newtek Bank, National Association (4) and Newtek Small Business Finance, Inc. (2). The most common industry was foundation, structure, and building exterior 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 Newaygo County
By number of approvals to businesses in the county, FY2021–FY2025; 11 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 38 | $4.8M | 66.7% | |
| 2 | Newtek Bank, National AssociationMiami, FL | 4 | $5.9M | 7.0% | |
| 3 | Newtek Small Business Finance, Inc.Lake Success, NY | 2 | — | 3.5% | |
| 4 | Great Lakes Commercial FinanceGrandville, MI · CDC | 2 | — | 3.5% | |
| 5 | Old National BankEvansville, IN | 2 | — | 3.5% | |
| 6 | Celtic Bank CorporationSalt Lake City, UT | 2 | — | 3.5% | |
| 7 | ChoiceOne BankSparta, MI | 2 | — | 3.5% | |
| 8 | Northeast BankLewiston, ME | 2 | — | 3.5% | |
| 9 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 1 | — | 1.8% | |
| 10 | BayFirst National BankSaint Petersburg, FL | 1 | — | 1.8% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 1 | — | 1.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 6 | 10.5% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 5 | 8.8% | |
| 3 | Building Finishing ContractorsNAICS 2383 | 5 | 8.8% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 5 | 8.8% | |
| 5 | Employment ServicesNAICS 5613 | 4 | 7.0% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 4 | 7.0% | |
| 7 | Printing and Related Support ActivitiesNAICS 3231 | 3 | 5.3% | |
| 8 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 5.3% | |
| 9 | General Freight TruckingNAICS 4841 | 3 | 5.3% | |
| 10 | Petroleum and Petroleum Products Merchant WholesalersNAICS 4247 | 2 | 3.5% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 21 | 36.8% | |
| 2 | Other Services (except Public Administration) | 7 | 12.3% | |
| 3 | Administrative and Support and Waste Management and Remediation Services | 5 | 8.8% | |
| 4 | Wholesale Trade | 3 | 5.3% | |
| 5 | Retail Trade | 3 | 5.3% | |
| 6 | Manufacturing | 3 | 5.3% | |
| 7 | Accommodation and Food Services | 3 | 5.3% | |
| 8 | Real Estate and Rental and Leasing | 3 | 5.3% |
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* | 3 | $2.3M | $245K | 1 | — | 4 | 23 |
| FY2025 | 14 | $5.9M | $77K | 1 | — | 15 | 138 |
| FY2024 | 16 | $4.6M | $61K | 0 | — | 16 | 38 |
| FY2023 | 9 | $1.9M | $99K | 0 | — | 9 | 29 |
| FY2022 | 7 | $3.6M | $93K | 1 | — | 8 | 83 |
| FY2021 | 8 | $885K | $40K | 1 | — | 9 | 116 |
| FY2020 | 4 | $1.4M | $73K | 0 | — | 4 | 11 |
| FY2019 | 7 | $1.9M | $50K | 1 | — | 8 | 35 |
| FY2018 | 13 | $947K | $50K | 0 | — | 13 | 92 |
| FY2017 | 9 | $6.5M | $355K | 0 | — | 9 | 511 |
| FY2016 | 9 | $827K | $50K | 0 | — | 9 | 19 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 43 approvals.
Against Michigan and the country
| FY2021–FY2025 | Newaygo County | Michigan | United States |
|---|---|---|---|
| Approvals | 57 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 68.8 | 55.8 | 41.0 |
| Median 7(a) approval | $63K | $125K | $190K |
| Median 504 approval | $906K | $540K | $657K |
| Average approval | $353K | $415K | $573K |
| 504 share of approvals | 5.3% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 7.1 | 9.4 | 10.5 |
| Share of state approvals | 0.4% | 100.0% | — |
Approval sizes
- $50,000 or less45.6%26
- $50,001 to $150,00026.3%15
- $150,001 to $350,0007.0%4
- $350,001 to $1 million8.8%5
- $1 million to $2 million10.5%6
- Over $2 million1.8%1
Age of the businesses
- Existing, more than 2 years old77.2%44
- New business, 2 years or less7.0%4
- Startup, loan funds will open the business3.5%2
- Change of ownership12.3%7
Questions and answers
Which lenders make the most SBA loans in Newaygo County?
By approvals in FY2021 to FY2025: The Huntington National Bank (38), Newtek Bank, National Association (4), Newtek Small Business Finance, Inc. (2), Great Lakes Commercial Finance (2), Old National Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Newaygo County?
The median 7(a) approval was $63K and the median 504 approval $906K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Newaygo County?
Foundation, Structure, and Building Exterior Contractors (6); Automotive Repair and Maintenance (5); Building Finishing Contractors (5); Other Specialty Trade Contractors (5); Employment Services (4).
Is SBA lending in Newaygo County rising?
Approvals in the three latest complete fiscal years total 40, against 21 in the three before: rising (+90%).
How does Newaygo County compare with the rest of Michigan?
68.8 approvals per 1,000 establishments against 55.8 statewide, and 57 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