Lenders › West Shore Bank
7(a) lenderLudington, MichiganFDIC-insured bank460th of 2,184 by approvals
West Shore Bank
SBA 7(a) 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.
In FY2021 to FY2025 SBA approved 58 7(a) loans, worth $42.6M, through West Shore Bank of Ludington, Michigan, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 460th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 0 approvals totalling —, down 100% on FY2024 (11). FY2026 to 30 Jun 2026 adds 1 more.
The median approval was $386K, against $190K for the 7(a) program as a whole; 10.3% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 2 states and territories and 13 counties, led by Michigan (98.3%) and Missouri (1.7%). The largest industry group was retail trade at 27.6% of approvals, and 12.1% of approvals were to franchise businesses.
Of 49 disbursed loans approved in FY2010 to FY2021, SBA records 0 as charged off (0.0%), 23 as paid in full and 26 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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* | 1 | — | — | — | 9 |
| FY2025 | 0 | — | — | — | 0 |
| FY2024 | 11 | $11.8M | $500K | $1.1M | 205 |
| FY2023 | 12 | $5.4M | $261K | $453K | 115 |
| FY2022 | 14 | $12.4M | $685K | $886K | 187 |
| FY2021 | 21 | $13.0M | $365K | $620K | 283 |
| FY2020 | 3 | $1.1M | $175K | $371K | 11 |
| FY2019 | 1 | — | — | — | 2 |
| FY2018 | 8 | $2.6M | $335K | $323K | 83 |
| FY2017 | 4 | $1.8M | $384K | $454K | 40 |
| FY2016 | 5 | $2.7M | $372K | $541K | 57 |
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 21 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 | 7(a) program |
|---|---|---|---|
| Approvals in these years | 53 | 25,129 | 639,905 |
| Cancelled or never disbursed | 4 | 3,087 | 79,313 |
| Disbursed loans | 49 | 22,042 | 560,592 |
| Paid in full | 23 | 17,774 | 435,813 |
| Charged off | 0 | 1,035 | 36,891 |
| Still outstanding (status exempt from disclosure) | 26 | 3,233 | 87,888 |
| Charged off, share of disbursed loans | 0.0% | 4.7% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.0% | 2.0% | 2.5% |
| Dollars charged off | $0 | $136M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 20 | 5 | 0 | — | 2.8% |
| FY2020 | 3 | 1 | 0 | — | 4.0% |
| FY2019 | 1 | 0 | 0 | — | 6.7% |
| FY2018 | 7 | 4 | 0 | — | 7.9% |
| FY2017 | 4 | 2 | 0 | — | 7.7% |
| FY2016 | 5 | 2 | 0 | — | 7.2% |
| FY2015 | 0 | 0 | 0 | — | 6.9% |
| FY2014 | 0 | 0 | 0 | — | 6.4% |
| FY2013 | 1 | 1 | 0 | — | 6.0% |
| FY2012 | 0 | 0 | 0 | — | 6.3% |
| FY2011 | 1 | 1 | 0 | — | 6.9% |
| FY2010 | 7 | 7 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $386K | $190K |
| Average approval | $735K | $518K |
| Approvals of $150,000 or less | 10.3% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 51.7% | 34.3% |
| Approvals to franchise businesses | 12.1% | 11.5% |
| Jobs supported per approval, as reported | 13.6 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 0.0% | 6.6% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Michigan | 57 | $40.8M | 98.3% | |
| 2 | Missouri | 1 | — | 1.7% |
In Michigan the lender accounts for 0.5% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (13 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Mason County, MI | 12 | $8.6M | 20.7% | |
| 2 | Muskegon County, MI | 11 | $5.1M | 19.0% | |
| 3 | Grand Traverse County, MI | 10 | $7.2M | 17.2% | |
| 4 | Manistee County, MI | 5 | $3.9M | 8.6% | |
| 5 | Kent County, MI | 3 | $3.8M | 5.2% | |
| 6 | Ottawa County, MI | 3 | $2.8M | 5.2% | |
| 7 | Benzie County, MI | 3 | $1.5M | 5.2% | |
| 8 | Leelanau County, MI | 3 | $978K | 5.2% | |
| 9 | Kalkaska County, MI | 3 | $925K | 5.2% | |
| 10 | Oceana County, MI | 2 | — | 3.4% | |
| 11 | Cheboygan County, MI | 1 | — | 1.7% | |
| 12 | Jackson County, MO | 1 | — | 1.7% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 16 | 27.6% | |
| 2 | Accommodation and Food Services | 10 | 17.2% | |
| 3 | Other Services (except Public Administration) | 7 | 12.1% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 6 | 10.3% | |
| 5 | Manufacturing | 5 | 8.6% | |
| 6 | Real Estate and Rental and Leasing | 5 | 8.6% | |
| 7 | Construction | 3 | 5.2% | |
| 8 | Arts, Entertainment, and Recreation | 2 | 3.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 8 | 13.8% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 6 | 10.3% | |
| 3 | Building Material and Supplies DealersNAICS 4441 | 4 | 6.9% | |
| 4 | Specialty Food StoresNAICS 4452 | 3 | 5.2% | |
| 5 | Grocery StoresNAICS 4451 | 3 | 5.2% | |
| 6 | Automobile DealersNAICS 4411 | 2 | 3.4% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 2 | 3.4% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 3.4% | |
| 9 | Waste CollectionNAICS 5621 | 2 | 3.4% | |
| 10 | Clothing StoresNAICS 4481 | 2 | 3.4% |
Approval sizes
- $50,000 or less5.2%3
- $50,001 to $150,0005.2%3
- $150,001 to $350,00032.8%19
- $350,001 to $1 million34.5%20
- $1 million to $2 million13.8%8
- Over $2 million8.6%5
Loan terms
- 5 years or less1.7%1
- Over 5 to 10 years46.6%27
- Over 10 to 20 years15.5%9
- Over 20 years36.2%21
Age of the businesses
- Existing, more than 2 years old32.8%19
- New business, 2 years or less6.9%4
- Startup, loan funds will open the business44.8%26
- Change of ownership15.5%9
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 49 | 84.5% | |
| 2 | SBA Express Program | 9 | 15.5% |
Franchise share
7 of 58 approvals in FY2021–FY2025 (12.1%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Chrysler | 2 | 3.4% | |
| 2 | Ace Hardware | 2 | 3.4% | |
| 3 | The UPS Store | 2 | 3.4% | |
| 4 | Little Caesars | 1 | 1.7% |
Questions and answers
How many SBA loans does West Shore Bank make?
SBA approved 0 7(a) loans through West Shore Bank in FY2025, worth —, and 58 over FY2021 to FY2025. That ranks 460th of 2,184 active 7(a) lenders by number of approvals.
How large are West Shore Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $386K and the average $735K. The program-wide median was $190K.
What is West Shore Bank's charge-off rate?
Of 49 disbursed loans approved in FY2010 to FY2021, SBA records 0 as charged off (0.0%), 23 as paid in full and 26 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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 West Shore Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (8); automotive repair and maintenance (6); building material and supplies dealers (4); specialty food stores (3).
Where does West Shore Bank make SBA loans?
In 2 states and territories. Michigan 57, Missouri 1. In Michigan it accounts for 0.5% of all 7(a) approvals.
Is West Shore Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 23, against 38 in the three before: falling (-39%).
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