States › Michigan › Wayne County
County2nd of 83 in Michigan by approvalsFIPS 26163
SBA loans in Wayne 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 Wayne County, Michigan, received 1,899 SBA loan approvals worth $799M in FY2021 to FY2025 (1,838 7(a), 61 504).
That is 56.4 approvals per 1,000 business establishments (33,699 establishments in 2023), close to the Michigan figure of 55.8 and above the national 41.0.
It ranks 2nd of 83 Michigan counties with approvals. In FY2025 there were 427, about level with FY2024.
109 lenders had approvals here; the most active were The Huntington National Bank (916), Fifth Third Bank (100) and First Internet Bank of Indiana (57). The most common industry was general freight trucking.
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 Wayne County
By number of approvals to businesses in the county, FY2021–FY2025; 109 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 916 | $143M | 48.2% | |
| 2 | Fifth Third BankCincinnati, OH | 100 | $63.4M | 5.3% | |
| 3 | First Internet Bank of IndianaFishers, IN | 57 | $74.9M | 3.0% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 55 | $20.1M | 2.9% | |
| 5 | ChoiceOne BankSparta, MI | 41 | $43.3M | 2.2% | |
| 6 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 39 | $41.3M | 2.1% | |
| 7 | BayFirst National BankSaint Petersburg, FL | 35 | $5.4M | 1.8% | |
| 8 | Newtek Small Business Finance, Inc.Lake Success, NY | 34 | $24.9M | 1.8% | |
| 9 | Northeast BankLewiston, ME | 34 | $5.2M | 1.8% | |
| 10 | JPMorgan Chase Bank, National AssociationColumbus, OH | 32 | $9.5M | 1.7% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 31 | $6.3M | 1.6% | |
| 12 | CDC Small Business Finance Corp.San Diego, CA | 31 | $3.4M | 1.6% | |
| 13 | KeyBank National AssociationCleveland, OH | 30 | $10.1M | 1.6% | |
| 14 | Live Oak Banking CompanyWilmington, NC | 25 | $33.7M | 1.3% | |
| 15 | Oxford BankOxford, MI | 22 | $16.4M | 1.2% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 283 | 14.9% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 175 | 9.2% | |
| 3 | Beer, Wine, and Liquor StoresNAICS 4453 | 98 | 5.2% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 67 | 3.5% | |
| 5 | Personal Care ServicesNAICS 8121 | 56 | 2.9% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 47 | 2.5% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 46 | 2.4% | |
| 8 | Grocery StoresNAICS 4451 | 42 | 2.2% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 36 | 1.9% | |
| 10 | Residential Building ConstructionNAICS 2361 | 34 | 1.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 332 | 17.5% | |
| 2 | Retail Trade | 311 | 16.4% | |
| 3 | Accommodation and Food Services | 227 | 12.0% | |
| 4 | Other Services (except Public Administration) | 179 | 9.4% | |
| 5 | Health Care and Social Assistance | 161 | 8.5% | |
| 6 | Construction | 161 | 8.5% | |
| 7 | Professional, Scientific, and Technical Services | 119 | 6.3% | |
| 8 | Manufacturing | 91 | 4.8% |
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* | 184 | $99.6M | $200K | 12 | $20.7M | 196 | 2,006 |
| FY2025 | 409 | $168M | $150K | 18 | $20.6M | 427 | 3,913 |
| FY2024 | 421 | $176M | $125K | 11 | $18.3M | 432 | 4,871 |
| FY2023 | 416 | $147M | $117K | 9 | $10.1M | 425 | 3,661 |
| FY2022 | 328 | $119M | $138K | 10 | $8.9M | 338 | 3,559 |
| FY2021 | 264 | $123M | $150K | 13 | $7.4M | 277 | 2,748 |
| FY2020 | 256 | $85.6M | $90K | 13 | $5.6M | 269 | 2,589 |
| FY2019 | 292 | $86.4M | $100K | 10 | $5.3M | 302 | 2,902 |
| FY2018 | 411 | $96.6M | $60K | 10 | $11.0M | 421 | 2,901 |
| FY2017 | 365 | $99.9M | $78K | 15 | $15.4M | 380 | 3,163 |
| FY2016 | 369 | $98.2M | $75K | 12 | $12.5M | 381 | 3,747 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 1,753 approvals.
Against Michigan and the country
| FY2021–FY2025 | Wayne County | Michigan | United States |
|---|---|---|---|
| Approvals | 1,899 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 56.4 | 55.8 | 41.0 |
| Median 7(a) approval | $150K | $125K | $190K |
| Median 504 approval | $727K | $540K | $657K |
| Average approval | $421K | $415K | $573K |
| 504 share of approvals | 3.2% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 9.9 | 9.4 | 10.5 |
| Share of state approvals | 14.8% | 100.0% | — |
Approval sizes
- $50,000 or less29.8%566
- $50,001 to $150,00024.7%469
- $150,001 to $350,00019.1%363
- $350,001 to $1 million14.6%277
- $1 million to $2 million7.2%137
- Over $2 million4.6%87
Age of the businesses
- Existing, more than 2 years old62.7%1,190
- New business, 2 years or less13.1%249
- Startup, loan funds will open the business17.1%325
- Change of ownership7.1%135
Questions and answers
Which lenders make the most SBA loans in Wayne County?
By approvals in FY2021 to FY2025: The Huntington National Bank (916), Fifth Third Bank (100), First Internet Bank of Indiana (57), Newtek Bank, National Association (55), ChoiceOne Bank (41). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Wayne County?
The median 7(a) approval was $150K and the median 504 approval $727K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Wayne County?
General Freight Trucking (283); Restaurants and Other Eating Places (175); Beer, Wine, and Liquor Stores (98); Automotive Repair and Maintenance (67); Personal Care Services (56).
Is SBA lending in Wayne County rising?
Approvals in the three latest complete fiscal years total 1,284, against 884 in the three before: rising (+45%).
How does Wayne County compare with the rest of Michigan?
56.4 approvals per 1,000 establishments against 55.8 statewide, and 1,899 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