States › Michigan › Wexford County
County43rd of 83 in Michigan by approvalsFIPS 26165
SBA loans in Wexford 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 35 loans to businesses in Wexford County, Michigan, in FY2021 to FY2025, worth $15.0M: 33 under 7(a) and 2 under 504.
That is 38.5 approvals per 1,000 business establishments (910 establishments in 2023), below the Michigan figure of 55.8 and close to the national 41.0.
It ranks 43rd of 83 Michigan counties with approvals. In FY2025 there were 19.
14 lenders had approvals here; the most active were The Huntington National Bank (13), Horizon Bank (9) and Live Oak Banking Company (2). The most common industry was restaurants and other eating places.
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 Wexford County
By number of approvals to businesses in the county, FY2021–FY2025; 14 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 13 | $2.6M | 37.1% | |
| 2 | Horizon BankMichigan City, IN | 9 | $2.4M | 25.7% | |
| 3 | Live Oak Banking CompanyWilmington, NC | 2 | — | 5.7% | |
| 4 | Byline BankChicago, IL | 1 | — | 2.9% | |
| 5 | Happen BankLehi, UT | 1 | — | 2.9% | |
| 6 | West Shore BankLudington, MI | 1 | — | 2.9% | |
| 7 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.9% | |
| 8 | Great Lakes Commercial FinanceGrandville, MI · CDC | 1 | — | 2.9% | |
| 9 | Lake Michigan CUGrand Rapids, MI | 1 | — | 2.9% | |
| 10 | Nicolet National BankGreen Bay, WI | 1 | — | 2.9% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 1 | — | 2.9% | |
| 12 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 2.9% | |
| 13 | Michigan Certified Development CorporationEast Lansing, MI · CDC | 1 | — | 2.9% | |
| 14 | JPMorgan Chase Bank, National AssociationColumbus, OH | 1 | — | 2.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 5 | 14.3% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 4 | 11.4% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 4 | 11.4% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 8.6% | |
| 5 | Grocery and Related Product Merchant WholesalersNAICS 4244 | 2 | 5.7% | |
| 6 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 5.7% | |
| 7 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 2 | 5.7% | |
| 8 | Gasoline StationsNAICS 4471 | 1 | 2.9% | |
| 9 | Grocery StoresNAICS 4451 | 1 | 2.9% | |
| 10 | Traveler AccommodationNAICS 7211 | 1 | 2.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 7 | 20.0% | |
| 2 | Construction | 7 | 20.0% | |
| 3 | Other Services (except Public Administration) | 5 | 14.3% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 4 | 11.4% | |
| 5 | Retail Trade | 3 | 8.6% | |
| 6 | Wholesale Trade | 2 | 5.7% | |
| 7 | Manufacturing | 2 | 5.7% | |
| 8 | Transportation and Warehousing | 1 | 2.9% |
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 | 51 |
| FY2025 | 19 | $6.6M | $150K | 0 | — | 19 | 96 |
| FY2024 | 2 | — | — | 0 | — | 2 | 7 |
| FY2023 | 4 | $623K | $77K | 1 | — | 5 | 43 |
| FY2022 | 4 | $2.7M | $100K | 1 | — | 5 | 40 |
| FY2021 | 4 | $3.1M | $662K | 0 | — | 4 | 28 |
| FY2020 | 8 | $1.8M | $48K | 1 | — | 9 | 53 |
| FY2019 | 8 | $675K | $25K | 0 | — | 8 | 35 |
| FY2018 | 10 | $2.2M | $66K | 1 | — | 11 | 164 |
| FY2017 | 8 | $2.7M | $268K | 0 | — | 8 | 95 |
| FY2016 | 4 | $2.3M | $262K | 2 | — | 6 | 78 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 42 approvals.
Against Michigan and the country
| FY2021–FY2025 | Wexford County | Michigan | United States |
|---|---|---|---|
| Approvals | 35 | 12,809 | 342,825 |
| Approvals per 1,000 establishments | 38.5 | 55.8 | 41.0 |
| Median 7(a) approval | $150K | $125K | $190K |
| Median 504 approval | — | $540K | $657K |
| Average approval | $427K | $415K | $573K |
| 504 share of approvals | 5.7% | 6.7% | 11.0% |
| Jobs supported per approval, as reported | 6.1 | 9.4 | 10.5 |
| Share of state approvals | 0.3% | 100.0% | — |
Approval sizes
- $50,000 or less20.0%7
- $50,001 to $150,00037.1%13
- $150,001 to $350,00011.4%4
- $350,001 to $1 million17.1%6
- $1 million to $2 million11.4%4
- Over $2 million2.9%1
Age of the businesses
- Existing, more than 2 years old34.3%12
- New business, 2 years or less8.6%3
- Startup, loan funds will open the business25.7%9
- Change of ownership31.4%11
Questions and answers
Which lenders make the most SBA loans in Wexford County?
By approvals in FY2021 to FY2025: The Huntington National Bank (13), Horizon Bank (9), Live Oak Banking Company (2), Byline Bank (1), Happen Bank (1). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Wexford County?
The median 7(a) approval was $150K; the Michigan 7(a) median was $125K.
Which industries get the most SBA loans in Wexford County?
Restaurants and Other Eating Places (5); Building Equipment Contractors (4); Services to Buildings and Dwellings (4); Automotive Repair and Maintenance (3); Grocery and Related Product Merchant Wholesalers (2).
Is SBA lending in Wexford County rising?
Approvals in the three latest complete fiscal years total 26, against 18 in the three before: rising (+44%).
How does Wexford County compare with the rest of Michigan?
38.5 approvals per 1,000 establishments against 55.8 statewide, and 35 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