Lenders › Michigan Certified Development Corporation
504 CDCEast Lansing, Michigancertified development company21st of 182 by approvals
Michigan Certified Development Corporation
SBA 504 loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Michigan Certified Development Corporation, based in East Lansing, Michigan, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 472 of its 504 loans worth $426M in FY2021 to FY2025, which places it 21st of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 67 approvals totalling $61.6M, down 9% on FY2024 (74). FY2026 to 30 Jun 2026 adds 49 more.
The median approval was $583K, against $657K for the 504 program as a whole; 7.0% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 5 states and territories and 60 counties, led by Michigan (98.5%), Ohio (0.6%) and Indiana (0.4%). The largest industry group was accommodation and food services at 18.9% of approvals, and 18.6% of approvals were to franchise businesses.
Of 1,170 disbursed loans approved in FY2010 to FY2021, SBA records 9 as charged off (0.8%), 556 as paid in full and 605 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 49 | $54.7M | $811K | $1.1M | 339 |
| FY2025 | 67 | $61.6M | $548K | $919K | 464 |
| FY2024 | 74 | $85.2M | $801K | $1.2M | 651 |
| FY2023 | 68 | $67.1M | $620K | $986K | 565 |
| FY2022 | 121 | $97.0M | $533K | $802K | 766 |
| FY2021 | 142 | $116M | $546K | $814K | 1,068 |
| FY2020 | 109 | $64.7M | $440K | $594K | 527 |
| FY2019 | 104 | $70.8M | $453K | $681K | 614 |
| FY2018 | 91 | $59.9M | $465K | $658K | 539 |
| FY2017 | 116 | $88.1M | $487K | $760K | 938 |
| FY2016 | 110 | $59.0M | $351K | $537K | 739 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 530 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Michigan | 504 program |
|---|---|---|---|
| Approvals in these years | 1,383 | 2,551 | 85,591 |
| Cancelled or never disbursed | 213 | 379 | 12,514 |
| Disbursed loans | 1,170 | 2,172 | 73,077 |
| Paid in full | 556 | 1,118 | 35,491 |
| Charged off | 9 | 21 | 905 |
| Still outstanding (status exempt from disclosure) | 605 | 1,033 | 36,681 |
| Charged off, share of disbursed loans | 0.8% | 1.0% | 1.2% |
| Dollars charged off, share of disbursed dollars | 0.4% | 0.7% | 0.9% |
| Dollars charged off | $2.6M | $8.3M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 110 | 11 | 0 | 0.0% | 0.1% |
| FY2020 | 93 | 12 | 0 | 0.0% | 0.1% |
| FY2019 | 85 | 13 | 0 | 0.0% | 0.3% |
| FY2018 | 76 | 14 | 0 | 0.0% | 0.4% |
| FY2017 | 96 | 33 | 1 | 1.0% | 0.8% |
| FY2016 | 95 | 48 | 1 | 1.1% | 1.0% |
| FY2015 | 78 | 40 | 1 | 1.3% | 1.2% |
| FY2014 | 99 | 64 | 0 | 0.0% | 1.3% |
| FY2013 | 114 | 78 | 3 | 2.6% | 1.4% |
| FY2012 | 137 | 103 | 0 | 0.0% | 2.0% |
| FY2011 | 102 | 78 | 1 | 1.0% | 2.1% |
| FY2010 | 85 | 62 | 2 | 2.4% | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $583K | $657K |
| Average approval | $904K | $1.0M |
| Approvals of $150,000 or less | 7.0% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 22.2% | 14.4% |
| Approvals to franchise businesses | 18.6% | 9.0% |
| Jobs supported per approval, as reported | 7.4 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 0.8% | 1.2% |
States served
| # | State of the business (5 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Michigan | 465 | $420M | 98.5% | |
| 2 | Ohio | 3 | $3.8M | 0.6% | |
| 3 | Indiana | 2 | — | 0.4% | |
| 4 | North Carolina | 1 | — | 0.2% | |
| 5 | Wisconsin | 1 | — | 0.2% |
In Michigan the lender accounts for 54.4% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (60 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Oakland County, MI | 55 | $69.4M | 11.7% | |
| 2 | Macomb County, MI | 42 | $28.4M | 8.9% | |
| 3 | Wayne County, MI | 39 | $41.3M | 8.3% | |
| 4 | Kent County, MI | 33 | $36.9M | 7.0% | |
| 5 | Ingham County, MI | 25 | $19.1M | 5.3% | |
| 6 | Ottawa County, MI | 24 | $35.7M | 5.1% | |
| 7 | Livingston County, MI | 22 | $19.4M | 4.7% | |
| 8 | Washtenaw County, MI | 21 | $15.4M | 4.4% | |
| 9 | Genesee County, MI | 18 | $8.5M | 3.8% | |
| 10 | Muskegon County, MI | 15 | $12.0M | 3.2% | |
| 11 | Grand Traverse County, MI | 15 | $8.9M | 3.2% | |
| 12 | Allegan County, MI | 13 | $15.7M | 2.8% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 89 | 18.9% | |
| 2 | Manufacturing | 66 | 14.0% | |
| 3 | Health Care and Social Assistance | 65 | 13.8% | |
| 4 | Other Services (except Public Administration) | 49 | 10.4% | |
| 5 | Retail Trade | 38 | 8.1% | |
| 6 | Professional, Scientific, and Technical Services | 33 | 7.0% | |
| 7 | Construction | 29 | 6.1% | |
| 8 | Real Estate and Rental and Leasing | 28 | 5.9% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 54 | 11.4% | |
| 2 | Traveler AccommodationNAICS 7211 | 33 | 7.0% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 28 | 5.9% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 22 | 4.7% | |
| 5 | Lessors of Real EstateNAICS 5311 | 18 | 3.8% | |
| 6 | Child Day Care ServicesNAICS 6244 | 14 | 3.0% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 13 | 2.8% | |
| 8 | Offices of PhysiciansNAICS 6211 | 12 | 2.5% | |
| 9 | Architectural, Engineering, and Related ServicesNAICS 5413 | 9 | 1.9% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 9 | 1.9% |
Approval sizes
- $50,001 to $150,0007.0%33
- $150,001 to $350,00024.8%117
- $350,001 to $1 million39.0%184
- $1 million to $2 million19.5%92
- Over $2 million9.7%46
Loan terms
- Over 5 to 10 years4.4%21
- Over 10 to 20 years24.2%114
- Over 20 years71.4%337
Age of the businesses
- Existing, more than 2 years old75.0%354
- New business, 2 years or less1.3%6
- Startup, loan funds will open the business21.0%99
- Change of ownership2.8%13
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 374 | 79.2% | |
| 2 | ALP Express | 55 | 11.7% | |
| 3 | 504 Refinancing Program | 39 | 8.3% | |
| 4 | 504 Basic | 2 | 0.4% | |
| 5 | ALP Express Debt Refi | 2 | 0.4% |
Franchise share
88 of 472 approvals in FY2021–FY2025 (18.6%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Culver's ButterBurgers & Frozen Custard | 13 | 2.8% | |
| 2 | Holiday Inn Express | 6 | 1.3% | |
| 3 | Kfc | 4 | 0.8% | |
| 4 | Biggby Coffee | 4 | 0.8% | |
| 5 | Hampton Inn by Hilton | 3 | 0.6% | |
| 6 | Best Western | 3 | 0.6% | |
| 7 | Yamaha | 3 | 0.6% | |
| 8 | ServiceMaster | 3 | 0.6% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | ChoiceOne Bank | 30 | 6.4% | |
| 2 | Mercantile Bank | 27 | 5.7% | |
| 3 | The Huntington National Bank | 16 | 3.4% | |
| 4 | Old National Bank | 15 | 3.2% | |
| 5 | The Dart Bank | 15 | 3.2% | |
| 6 | Fifth Third Bank | 14 | 3.0% | |
| 7 | Bank of Ann Arbor | 14 | 3.0% | |
| 8 | Isabella Bank | 14 | 3.0% | |
| 9 | First State Bank | 14 | 3.0% | |
| 10 | Horizon Bank | 13 | 2.8% |
Questions and answers
How many SBA loans does Michigan Certified Development Corporation make?
SBA approved 67 504 loans through Michigan Certified Development Corporation in FY2025, worth $61.6M, and 472 over FY2021 to FY2025. That ranks 21st of 182 active CDCs by number of approvals.
How large are Michigan Certified Development Corporation's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $583K and the average $904K. The program-wide median was $657K.
What is Michigan Certified Development Corporation's charge-off rate?
Of 1,170 disbursed loans approved in FY2010 to FY2021, SBA records 9 as charged off (0.8%), 556 as paid in full and 605 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Michigan Certified Development Corporation lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (54); traveler accommodation (33); automotive repair and maintenance (28); offices of other health practitioners (22).
Where does Michigan Certified Development Corporation make SBA loans?
In 5 states and territories. Michigan 465, Ohio 3, Indiana 2, North Carolina 1, Wisconsin 1. In Michigan it accounts for 54.4% of all 504 approvals.
Is Michigan Certified Development Corporation's SBA lending rising?
Approvals in the three latest complete fiscal years total 209, against 372 in the three before: falling (-44%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error