FY20201 Oct 2019 – 30 Sep 2020
SBA loans in Michigan, FY2020
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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 1,890 loans in Michigan: 1,708 under 7(a) and 182 under 504, worth $725M.
That is down 17% on FY2019, when there were 2,266 approvals worth $785M.
Michigan accounted for 3.8% of the 49,417 approvals nationwide that year. 135 lenders had at least one approval in the state; The Huntington National Bank had the most, 951.
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 FY2020, of 135 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 951 | $140M | 50.3% | 1,149 | -198 |
| 2 | Michigan Certified Development Corporation | 504 | 108 | $63.5M | 5.7% | 103 | +5 |
| 3 | Fifth Third Bank | 7(a) | 65 | $27.4M | 3.4% | 112 | -47 |
| 4 | Great Lakes Commercial Finance | 504 | 54 | $30.7M | 2.9% | 37 | +17 |
| 5 | ChoiceOne Bank | 7(a) | 51 | $27.0M | 2.7% | 56 | -5 |
| 6 | Live Oak Banking Company | 7(a) | 38 | $50.5M | 2.0% | 23 | +15 |
| 7 | JPMorgan Chase Bank, National Association | 7(a) | 33 | $9.2M | 1.7% | 52 | -19 |
| 8 | United Midwest Savings Bank National Association | 7(a) | 26 | $15.5M | 1.4% | 23 | +3 |
| 9 | PNC Bank, National Association | 7(a) | 26 | $8.0M | 1.4% | 39 | -13 |
| 10 | Oxford Bank | 7(a) | 24 | $13.0M | 1.3% | 17 | +7 |
| 11 | Nicolet National Bank | 7(a) | 24 | $12.0M | 1.3% | 20 | +4 |
| 12 | Oakland County Business Finance Corporation | 504 | 17 | $8.9M | 0.9% | 12 | +5 |
| 13 | Bank of Ann Arbor | 7(a) | 16 | $12.3M | 0.8% | 15 | +1 |
| 14 | Citizens Bank, National Association | 7(a) | 15 | $5.7M | 0.8% | 42 | -27 |
| 15 | Horizon Bank | 7(a) | 15 | $3.9M | 0.8% | 18 | -3 |
| 16 | KeyBank National Association | 7(a) | 14 | $14.6M | 0.7% | 23 | -9 |
| 17 | First Merchants Bank | 7(a) | 14 | $8.6M | 0.7% | 13 | +1 |
| 18 | Newtek Small Business Finance, Inc. | 7(a) | 13 | $10.3M | 0.7% | 38 | -25 |
| 19 | BayFirst National Bank | 7(a) | 13 | $2.7M | 0.7% | 42 | -29 |
| 20 | Shoreham Bank | 7(a) | 12 | $26.8M | 0.6% | 5 | +7 |
| 21 | Old National Bank | 7(a) | 12 | $9.9M | 0.6% | 5 | +7 |
| 22 | IncredibleBank | 7(a) | 12 | $9.1M | 0.6% | 11 | +1 |
| 23 | 1st State Bank | 7(a) | 12 | $8.2M | 0.6% | 6 | +6 |
| 24 | Byline Bank | 7(a) | 11 | $14.3M | 0.6% | 38 | -27 |
| 25 | Celtic Bank Corporation | 7(a) | 11 | $6.0M | 0.6% | 28 | -17 |
| 26 | 4Front Credit Union | 7(a) | 10 | $3.3M | 0.5% | 12 | -2 |
| 27 | Credit Union One | 7(a) | 10 | $1.5M | 0.5% | 4 | +6 |
| 28 | Opportunity Resource Fund | 7(a) | 8 | $1.1M | 0.4% | 1 | +7 |
| 29 | First National Bank of Pennsylvania | 7(a) | 7 | $8.5M | 0.4% | 0 | new |
| 30 | Southern Michigan Bank & Trust | 7(a) | 7 | $2.8M | 0.4% | 2 | +5 |
| 31 | 1st Source Bank | 7(a) | 7 | $2.3M | 0.4% | 6 | +1 |
| 32 | Bank of America, National Association | 7(a) | 7 | $2.3M | 0.4% | 0 | new |
| 33 | Isabella Bank | 7(a) | 6 | $4.2M | 0.3% | 3 | +3 |
| 34 | Chelsea State Bank | 7(a) | 6 | $3.9M | 0.3% | 5 | +1 |
| 35 | Lake Trust CU | 7(a) | 6 | $3.5M | 0.3% | 7 | -1 |
| 36 | Honor Bank | 7(a) | 6 | $2.0M | 0.3% | 8 | -2 |
| 37 | Flagstar Bank National Association | 7(a) | 6 | $893K | 0.3% | 4 | +2 |
| 38 | Happen Bank | 7(a) | 5 | $4.8M | 0.3% | 0 | new |
| 39 | Readycap Lending, LLC | 7(a) | 5 | $4.8M | 0.3% | 0 | new |
| 40 | Superior National Bank | 7(a) | 5 | $1.9M | 0.3% | 8 | -3 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|
| 1 | Oakland County | 285 | $154M | 15.1% | 385 | -100 |
| 2 | Wayne County | 269 | $91.1M | 14.2% | 302 | -33 |
| 3 | Kent County | 235 | $71.1M | 12.4% | 290 | -55 |
| 4 | Macomb County | 219 | $68.2M | 11.6% | 272 | -53 |
| 5 | Ottawa County | 83 | $24.4M | 4.4% | 102 | -19 |
| 6 | Genesee County | 74 | $32.7M | 3.9% | 75 | -1 |
| 7 | Washtenaw County | 60 | $26.9M | 3.2% | 63 | -3 |
| 8 | Kalamazoo County | 47 | $15.4M | 2.5% | 43 | +4 |
| 9 | Grand Traverse County | 43 | $10.1M | 2.3% | 55 | -12 |
| 10 | Livingston County | 40 | $22.1M | 2.1% | 34 | +6 |
| 11 | Ingham County | 39 | $14.5M | 2.1% | 70 | -31 |
| 12 | Muskegon County | 31 | $9.4M | 1.6% | 21 | +10 |
| 13 | Saginaw County | 30 | $9.7M | 1.6% | 38 | -8 |
| 14 | St. Clair County | 26 | $12.2M | 1.4% | 33 | -7 |
| 15 | Monroe County | 25 | $11.5M | 1.3% | 23 | +2 |
| 16 | Midland County | 23 | $15.3M | 1.2% | 11 | +12 |
| 17 | Allegan County | 22 | $4.8M | 1.2% | 38 | -16 |
| 18 | Lenawee County | 21 | $6.6M | 1.1% | 13 | +8 |
| 19 | Berrien County | 19 | $9.0M | 1.0% | 29 | -10 |
| 20 | Jackson County | 15 | $4.0M | 0.8% | 15 | 0 |
| 21 | Otsego County | 14 | $3.3M | 0.7% | 9 | +5 |
| 22 | Calhoun County | 13 | $10.3M | 0.7% | 19 | -6 |
| 23 | Eaton County | 12 | $4.5M | 0.6% | 10 | +2 |
| 24 | Bay County | 11 | $2.9M | 0.6% | 15 | -4 |
| 25 | Lapeer County | 11 | $4.0M | 0.6% | 14 | -3 |
| 26 | Missaukee County | 11 | $888K | 0.6% | 2 | +9 |
| 27 | Leelanau County | 10 | $6.2M | 0.5% | 9 | +1 |
| 28 | Chippewa County | 10 | $2.9M | 0.5% | 8 | +2 |
| 29 | Emmet County | 9 | $2.4M | 0.5% | 9 | 0 |
| 30 | Shiawassee County | 9 | $4.9M | 0.5% | 18 | -9 |
| 31 | Montcalm County | 9 | $2.4M | 0.5% | 7 | +2 |
| 32 | Clinton County | 9 | $776K | 0.5% | 15 | -6 |
| 33 | Wexford County | 9 | $1.9M | 0.5% | 8 | +1 |
| 34 | Oceana County | 7 | $636K | 0.4% | 4 | +3 |
| 35 | Delta County | 6 | $5.0M | 0.3% | 4 | +2 |
| 36 | Marquette County | 6 | $3.3M | 0.3% | 19 | -13 |
| 37 | Van Buren County | 6 | $5.2M | 0.3% | 8 | -2 |
| 38 | St. Joseph County | 6 | $1.1M | 0.3% | 9 | -3 |
| 39 | Cheboygan County | 6 | $6.7M | 0.3% | 4 | +2 |
| 40 | Iron County | 6 | $928K | 0.3% | 0 | new |
The 40 counties with the most approvals; every county is on the Michigan page.
FY2020 against FY2019
| Michigan | FY2020 | FY2019 |
|---|---|---|
| 7(a) approvals | 1,708 | 2,107 |
| 7(a) dollars | $620M | $675M |
| Median 7(a) approval | $100K | $100K |
| 504 approvals | 182 | 159 |
| 504 dollars | $106M | $109M |
| Jobs supported, as reported | 15,880 | 19,531 |
Questions and answers
Which lenders made the most SBA loans in Michigan in FY2020?
The Huntington National Bank (951), Michigan Certified Development Corporation (108), Fifth Third Bank (65), Great Lakes Commercial Finance (54), ChoiceOne Bank (51). 135 lenders had at least one approval.
How many SBA loans were approved in Michigan in FY2020?
1,890: 1,708 under 7(a) worth $620M and 182 under 504 worth $106M.
Which Michigan counties had the most SBA approvals in FY2020?
Oakland County (285), Wayne County (269), Kent County (235), Macomb County (219), Ottawa County (83).
When does FY2020 start and end?
The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.
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