FY20181 Oct 2017 – 30 Sep 2018
SBA loans in Michigan, FY2018
That fiscal year's approvals by lender and by county.
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 FY2018 (1 October 2017 to 30 September 2018) SBA approved 2,721 loans in Michigan: 2,551 under 7(a) and 170 under 504, worth $813M.
That is about level with FY2017, when there were 2,700 approvals worth $912M.
Michigan accounted for 4.1% of the 66,228 approvals nationwide that year. 137 lenders had at least one approval in the state; The Huntington National Bank had the most, 1,530.
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.
Approvals by lender
The 40 lenders with the most approvals to Michigan businesses in FY2018, of 137 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2017 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 1,530 | $253M | 56.2% | 1,286 | +244 |
| 2 | Fifth Third Bank | 7(a) | 119 | $35.8M | 4.4% | 174 | -55 |
| 3 | Michigan Certified Development Corporation | 504 | 90 | $59.0M | 3.3% | 116 | -26 |
| 4 | JPMorgan Chase Bank, National Association | 7(a) | 83 | $20.5M | 3.1% | 100 | -17 |
| 5 | Citizens Bank, National Association | 7(a) | 75 | $13.0M | 2.8% | 116 | -41 |
| 6 | Great Lakes Commercial Finance | 504 | 61 | $28.7M | 2.2% | 58 | +3 |
| 7 | ChoiceOne Bank | 7(a) | 56 | $25.8M | 2.1% | 36 | +20 |
| 8 | PNC Bank, National Association | 7(a) | 37 | $8.8M | 1.4% | 31 | +6 |
| 9 | Celtic Bank Corporation | 7(a) | 32 | $13.9M | 1.2% | 45 | -13 |
| 10 | Horizon Bank | 7(a) | 31 | $5.7M | 1.1% | 44 | -13 |
| 11 | Oxford Bank | 7(a) | 27 | $25.2M | 1.0% | 16 | +11 |
| 12 | Northeast Bank | 7(a) | 25 | $3.0M | 0.9% | 7 | +18 |
| 13 | First Merchants Bank | 7(a) | 22 | $12.3M | 0.8% | 19 | +3 |
| 14 | Live Oak Banking Company | 7(a) | 20 | $24.6M | 0.7% | 34 | -14 |
| 15 | BayFirst National Bank | 7(a) | 19 | $4.5M | 0.7% | 23 | -4 |
| 16 | Byline Bank | 7(a) | 18 | $14.6M | 0.7% | 19 | -1 |
| 17 | Newtek Small Business Finance, Inc. | 7(a) | 18 | $12.5M | 0.7% | 12 | +6 |
| 18 | 1st Source Bank | 7(a) | 18 | $2.6M | 0.7% | 23 | -5 |
| 19 | Independence Bank | 7(a) | 18 | $2.0M | 0.7% | 10 | +8 |
| 20 | Nicolet National Bank | 7(a) | 17 | $8.0M | 0.6% | 21 | -4 |
| 21 | Oakland County Business Finance Corporation | 504 | 16 | $14.7M | 0.6% | 23 | -7 |
| 22 | Old National Bank | 7(a) | 15 | $11.6M | 0.6% | 11 | +4 |
| 23 | KeyBank National Association | 7(a) | 15 | $4.4M | 0.6% | 19 | -4 |
| 24 | BankUnited, National Association | 7(a) | 14 | $11.1M | 0.5% | 35 | -21 |
| 25 | Highpoint Community Bank | 7(a) | 13 | $3.0M | 0.5% | 18 | -5 |
| 26 | United Midwest Savings Bank National Association | 7(a) | 12 | $6.7M | 0.4% | 10 | +2 |
| 27 | Bank of Ann Arbor | 7(a) | 11 | $7.4M | 0.4% | 16 | -5 |
| 28 | Wells Fargo Bank National Association | 7(a) | 11 | $6.4M | 0.4% | 15 | -4 |
| 29 | Stearns Bank National Association | 7(a) | 11 | $1.8M | 0.4% | 8 | +3 |
| 30 | Flagstar Bank National Association | 7(a) | 10 | $1.6M | 0.4% | 16 | -6 |
| 31 | CIBC Bank USA | 7(a) | 8 | $3.9M | 0.3% | 4 | +4 |
| 32 | West Shore Bank | 7(a) | 8 | $2.6M | 0.3% | 4 | +4 |
| 33 | Ameris Bank | 7(a) | 7 | $5.7M | 0.3% | 1 | +6 |
| 34 | First National Bank & Trust Co | 7(a) | 7 | $2.6M | 0.3% | 3 | +4 |
| 35 | United FCU | 7(a) | 7 | $1.6M | 0.3% | 5 | +2 |
| 36 | Citizens National Bank of Cheboygan | 7(a) | 7 | $1.5M | 0.3% | 3 | +4 |
| 37 | Northern Great Lakes Initiatives | 7(a) | 7 | $867K | 0.3% | 11 | -4 |
| 38 | Honor Bank | 7(a) | 7 | $655K | 0.3% | 9 | -2 |
| 39 | Southern Michigan Bank & Trust | 7(a) | 6 | $5.9M | 0.2% | 3 | +3 |
| 40 | IncredibleBank | 7(a) | 6 | $4.0M | 0.2% | 8 | -2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2017 | Change |
|---|---|---|---|---|---|---|
| 1 | Oakland County | 437 | $137M | 16.1% | 473 | -36 |
| 2 | Wayne County | 421 | $108M | 15.5% | 380 | +41 |
| 3 | Macomb County | 332 | $87.2M | 12.2% | 306 | +26 |
| 4 | Kent County | 297 | $60.5M | 10.9% | 319 | -22 |
| 5 | Ottawa County | 108 | $35.6M | 4.0% | 105 | +3 |
| 6 | Genesee County | 89 | $30.4M | 3.3% | 91 | -2 |
| 7 | Washtenaw County | 64 | $25.2M | 2.4% | 62 | +2 |
| 8 | Grand Traverse County | 60 | $23.4M | 2.2% | 61 | -1 |
| 9 | Ingham County | 60 | $14.8M | 2.2% | 63 | -3 |
| 10 | Livingston County | 52 | $14.3M | 1.9% | 52 | 0 |
| 11 | Kalamazoo County | 49 | $27.9M | 1.8% | 69 | -20 |
| 12 | Allegan County | 45 | $13.4M | 1.7% | 28 | +17 |
| 13 | Muskegon County | 45 | $13.5M | 1.7% | 38 | +7 |
| 14 | Berrien County | 44 | $13.2M | 1.6% | 36 | +8 |
| 15 | Eaton County | 35 | $12.3M | 1.3% | 23 | +12 |
| 16 | St. Clair County | 34 | $8.5M | 1.2% | 23 | +11 |
| 17 | Saginaw County | 32 | $5.1M | 1.2% | 31 | +1 |
| 18 | Monroe County | 31 | $10.9M | 1.1% | 31 | 0 |
| 19 | Jackson County | 29 | $12.8M | 1.1% | 26 | +3 |
| 20 | Calhoun County | 24 | $18.6M | 0.9% | 27 | -3 |
| 21 | Leelanau County | 19 | $5.7M | 0.7% | 8 | +11 |
| 22 | Midland County | 19 | $6.3M | 0.7% | 7 | +12 |
| 23 | Van Buren County | 19 | $10.3M | 0.7% | 28 | -9 |
| 24 | Ionia County | 18 | $5.7M | 0.7% | 13 | +5 |
| 25 | Barry County | 17 | $4.8M | 0.6% | 18 | -1 |
| 26 | Shiawassee County | 17 | $13.3M | 0.6% | 25 | -8 |
| 27 | Clinton County | 16 | $1.8M | 0.6% | 19 | -3 |
| 28 | Emmet County | 15 | $1.8M | 0.6% | 7 | +8 |
| 29 | Montcalm County | 15 | $2.2M | 0.6% | 12 | +3 |
| 30 | Newaygo County | 13 | $947K | 0.5% | 9 | +4 |
| 31 | Lenawee County | 13 | $7.5M | 0.5% | 15 | -2 |
| 32 | Branch County | 13 | $1.5M | 0.5% | 9 | +4 |
| 33 | Oceana County | 11 | $801K | 0.4% | 1 | +10 |
| 34 | Charlevoix County | 11 | $1.7M | 0.4% | 13 | -2 |
| 35 | Wexford County | 11 | $2.6M | 0.4% | 8 | +3 |
| 36 | Otsego County | 10 | $2.3M | 0.4% | 8 | +2 |
| 37 | Hillsdale County | 10 | $5.5M | 0.4% | 10 | 0 |
| 38 | Lapeer County | 10 | $2.7M | 0.4% | 20 | -10 |
| 39 | Manistee County | 9 | $1.9M | 0.3% | 2 | +7 |
| 40 | Marquette County | 8 | $2.3M | 0.3% | 21 | -13 |
The 40 counties with the most approvals; every county is on the Michigan page.
FY2018 against FY2017
| Michigan | FY2018 | FY2017 |
|---|---|---|
| 7(a) approvals | 2,551 | 2,498 |
| 7(a) dollars | $709M | $772M |
| Median 7(a) approval | $75K | $100K |
| 504 approvals | 170 | 202 |
| 504 dollars | $105M | $140M |
| Jobs supported, as reported | 21,633 | 25,820 |
Questions and answers
Which lenders made the most SBA loans in Michigan in FY2018?
The Huntington National Bank (1,530), Fifth Third Bank (119), Michigan Certified Development Corporation (90), JPMorgan Chase Bank, National Association (83), Citizens Bank, National Association (75). 137 lenders had at least one approval.
How many SBA loans were approved in Michigan in FY2018?
2,721: 2,551 under 7(a) worth $709M and 170 under 504 worth $105M.
Which Michigan counties had the most SBA approvals in FY2018?
Oakland County (437), Wayne County (421), Macomb County (332), Kent County (297), Ottawa County (108).
When does FY2018 start and end?
The federal fiscal year 2018 runs from 1 October 2017 to 30 September 2018.
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