States › Michigan › Otsego County
County40th of 83 in Michigan by approvalsFIPS 26137
SBA loans in Otsego 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 39 loans to businesses in Otsego County, Michigan, in FY2021 to FY2025, worth $16.4M: 38 under 7(a) and 1 under 504.
That is 46.1 approvals per 1,000 business establishments (846 establishments in 2023), below the Michigan figure of 55.8 and close to the national 41.0.
It ranks 40th of 83 Michigan counties with approvals. In FY2025 there were 7.
12 lenders had approvals here; the most active were The Huntington National Bank (22), Fifth Third Bank (2) and GBank (2). The most common industry was building equipment 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 Otsego 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 | 22 | $3.7M | 56.4% | |
| 2 | Fifth Third BankCincinnati, OH | 2 | — | 5.1% | |
| 3 | GBankLas Vegas, NV | 2 | — | 5.1% | |
| 4 | Live Oak Banking CompanyWilmington, NC | 2 | — | 5.1% | |
| 5 | Horizon BankMichigan City, IN | 2 | — | 5.1% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 2 | — | 5.1% | |
| 7 | Nicolet National BankGreen Bay, WI | 2 | — | 5.1% | |
| 8 | Cornhusker BankLincoln, NE | 1 | — | 2.6% | |
| 9 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 1 | — | 2.6% | |
| 10 | Huron Community BankEast Tawas, MI | 1 | — | 2.6% | |
| 11 | Northern Great Lakes InitiativesMarquette, MI | 1 | — | 2.6% | |
| 12 | 4Front Credit UnionTraverse City, MI | 1 | — | 2.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 8 | 20.5% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 7.7% | |
| 3 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 7.7% | |
| 4 | Traveler AccommodationNAICS 7211 | 2 | 5.1% | |
| 5 | Jewelry, Luggage, and Leather Goods RetailersNAICS 4583 | 2 | 5.1% | |
| 6 | Individual and Family ServicesNAICS 6241 | 2 | 5.1% | |
| 7 | General Freight TruckingNAICS 4841 | 2 | 5.1% | |
| 8 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 2 | 5.1% | |
| 9 | Personal Care ServicesNAICS 8121 | 2 | 5.1% | |
| 10 | Residential Building ConstructionNAICS 2361 | 2 | 5.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 14 | 35.9% | |
| 2 | Accommodation and Food Services | 5 | 12.8% | |
| 3 | Retail Trade | 3 | 7.7% | |
| 4 | Health Care and Social Assistance | 3 | 7.7% | |
| 5 | Manufacturing | 3 | 7.7% | |
| 6 | Other Services (except Public Administration) | 3 | 7.7% | |
| 7 | Transportation and Warehousing | 2 | 5.1% | |
| 8 | Wholesale Trade | 2 | 5.1% |
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* | 5 | $2.1M | $469K | 0 | — | 5 | 36 |
| FY2025 | 7 | $475K | $50K | 0 | — | 7 | 21 |
| FY2024 | 8 | $7.3M | $129K | 0 | — | 8 | 90 |
| FY2023 | 7 | $2.2M | $232K | 1 | — | 8 | 161 |
| FY2022 | 6 | $741K | $100K | 0 | — | 6 | 38 |
| FY2021 | 10 | $5.5M | $52K | 0 | — | 10 | 89 |
| FY2020 | 14 | $3.3M | $43K | 0 | — | 14 | 73 |
| FY2019 | 9 | $3.7M | $150K | 0 | — | 9 | 32 |
| FY2018 | 9 | $2.1M | $75K | 1 | — | 10 | 88 |
| FY2017 | 8 | $537K | $45K | 0 | — | 8 | 29 |
| FY2016 | 8 | $3.5M | $408K | 0 | — | 8 | 207 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 49 approvals.
Against Michigan and the country
| FY2021–FY2025 | Otsego County | Michigan | United States |
|---|---|---|---|
| Approvals | 39 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 46.1 | 55.8 | 41.0 |
| Median 7(a) approval | $100K | $125K | $190K |
| Median 504 approval | — | $540K | $657K |
| Average approval | $421K | $415K | $573K |
| 504 share of approvals | 2.6% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 10.2 | 9.4 | 10.5 |
| Share of state approvals | 0.3% | 100.0% | — |
Approval sizes
- $50,000 or less30.8%12
- $50,001 to $150,00030.8%12
- $150,001 to $350,00020.5%8
- $350,001 to $1 million7.7%3
- $1 million to $2 million2.6%1
- Over $2 million7.7%3
Age of the businesses
- Existing, more than 2 years old64.1%25
- New business, 2 years or less15.4%6
- Startup, loan funds will open the business5.1%2
- Change of ownership12.8%5
- Not answered2.6%1
Questions and answers
Which lenders make the most SBA loans in Otsego County?
By approvals in FY2021 to FY2025: The Huntington National Bank (22), Fifth Third Bank (2), GBank (2), Live Oak Banking Company (2), Horizon Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Otsego County?
The median 7(a) approval was $100K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Otsego County?
Building Equipment Contractors (8); Restaurants and Other Eating Places (3); Other Specialty Trade Contractors (3); Traveler Accommodation (2); Jewelry, Luggage, and Leather Goods Retailers (2).
Is SBA lending in Otsego County rising?
Approvals in the three latest complete fiscal years total 23, against 30 in the three before: falling (-23%).
How does Otsego County compare with the rest of Michigan?
46.1 approvals per 1,000 establishments against 55.8 statewide, and 39 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