FY20211 Oct 2020 – 30 Sep 2021
SBA loans in Michigan, FY2021
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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 2,391 loans in Michigan: 2,146 under 7(a) and 245 under 504, worth $1.19bn.
That is up 27% on FY2020, when there were 1,890 approvals worth $725M.
Michigan accounted for 3.9% of the 61,532 approvals nationwide that year. 154 lenders had at least one approval in the state; The Huntington National Bank had the most, 1,127.
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 FY2021, of 154 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 1,127 | $236M | 47.1% | 951 | +176 |
| 2 | Michigan Certified Development Corporation | 504 | 141 | $115M | 5.9% | 108 | +33 |
| 3 | ChoiceOne Bank | 7(a) | 107 | $92.7M | 4.5% | 51 | +56 |
| 4 | Great Lakes Commercial Finance | 504 | 89 | $54.3M | 3.7% | 54 | +35 |
| 5 | Fifth Third Bank | 7(a) | 70 | $40.2M | 2.9% | 65 | +5 |
| 6 | Newtek Small Business Finance, Inc. | 7(a) | 41 | $35.7M | 1.7% | 13 | +28 |
| 7 | Oxford Bank | 7(a) | 39 | $17.9M | 1.6% | 24 | +15 |
| 8 | Live Oak Banking Company | 7(a) | 37 | $65.5M | 1.5% | 38 | -1 |
| 9 | Nicolet National Bank | 7(a) | 35 | $28.0M | 1.5% | 24 | +11 |
| 10 | United Midwest Savings Bank National Association | 7(a) | 30 | $8.4M | 1.3% | 26 | +4 |
| 11 | 4Front Credit Union | 7(a) | 28 | $7.9M | 1.2% | 10 | +18 |
| 12 | First Internet Bank of Indiana | 7(a) | 22 | $30.2M | 0.9% | 4 | +18 |
| 13 | Old National Bank | 7(a) | 21 | $22.4M | 0.9% | 12 | +9 |
| 14 | West Shore Bank | 7(a) | 21 | $13.0M | 0.9% | 3 | +18 |
| 15 | KeyBank National Association | 7(a) | 20 | $11.6M | 0.8% | 14 | +6 |
| 16 | Byline Bank | 7(a) | 18 | $24.4M | 0.8% | 11 | +7 |
| 17 | Citizens Bank, National Association | 7(a) | 18 | $11.0M | 0.8% | 15 | +3 |
| 18 | PNC Bank, National Association | 7(a) | 17 | $5.3M | 0.7% | 26 | -9 |
| 19 | 1st State Bank | 7(a) | 16 | $5.1M | 0.7% | 12 | +4 |
| 20 | IncredibleBank | 7(a) | 15 | $11.0M | 0.6% | 12 | +3 |
| 21 | JPMorgan Chase Bank, National Association | 7(a) | 15 | $8.3M | 0.6% | 33 | -18 |
| 22 | Highpoint Community Bank | 7(a) | 15 | $2.3M | 0.6% | 3 | +12 |
| 23 | 1st Source Bank | 7(a) | 13 | $3.2M | 0.5% | 7 | +6 |
| 24 | Bank of Ann Arbor | 7(a) | 12 | $10.9M | 0.5% | 16 | -4 |
| 25 | Oakland County Business Finance Corporation | 504 | 12 | $10.6M | 0.5% | 17 | -5 |
| 26 | First Merchants Bank | 7(a) | 12 | $5.9M | 0.5% | 14 | -2 |
| 27 | Bank Michigan | 7(a) | 12 | $3.9M | 0.5% | 4 | +8 |
| 28 | Credit Union One | 7(a) | 12 | $3.6M | 0.5% | 10 | +2 |
| 29 | Celtic Bank Corporation | 7(a) | 11 | $13.9M | 0.5% | 11 | 0 |
| 30 | Kellogg Community CU | 7(a) | 11 | $8.3M | 0.5% | 4 | +7 |
| 31 | Horizon Bank | 7(a) | 11 | $2.9M | 0.5% | 15 | -4 |
| 32 | Flagstar Bank National Association | 7(a) | 10 | $3.2M | 0.4% | 6 | +4 |
| 33 | Capitol National Bank | 7(a) | 9 | $8.9M | 0.4% | 3 | +6 |
| 34 | First National Bank of Michigan | 7(a) | 9 | $5.4M | 0.4% | 4 | +5 |
| 35 | Chelsea State Bank | 7(a) | 8 | $7.6M | 0.3% | 6 | +2 |
| 36 | Superior National Bank | 7(a) | 8 | $2.5M | 0.3% | 5 | +3 |
| 37 | Five Star Bank | 7(a) | 8 | $2.0M | 0.3% | 5 | +3 |
| 38 | First Western SBLC, LLC | 7(a) | 7 | $16.9M | 0.3% | 2 | +5 |
| 39 | BayFirst National Bank | 7(a) | 7 | $2.5M | 0.3% | 13 | -6 |
| 40 | Lake Trust CU | 7(a) | 7 | $2.5M | 0.3% | 6 | +1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Oakland County | 391 | $228M | 16.4% | 285 | +106 |
| 2 | Wayne County | 277 | $130M | 11.6% | 269 | +8 |
| 3 | Kent County | 266 | $89.7M | 11.1% | 235 | +31 |
| 4 | Macomb County | 251 | $103M | 10.5% | 219 | +32 |
| 5 | Genesee County | 111 | $45.8M | 4.6% | 74 | +37 |
| 6 | Ottawa County | 93 | $51.0M | 3.9% | 83 | +10 |
| 7 | Grand Traverse County | 72 | $37.3M | 3.0% | 43 | +29 |
| 8 | Ingham County | 59 | $36.4M | 2.5% | 39 | +20 |
| 9 | Kalamazoo County | 55 | $30.3M | 2.3% | 47 | +8 |
| 10 | Livingston County | 53 | $35.5M | 2.2% | 40 | +13 |
| 11 | Washtenaw County | 51 | $31.6M | 2.1% | 60 | -9 |
| 12 | Allegan County | 51 | $25.3M | 2.1% | 22 | +29 |
| 13 | Saginaw County | 50 | $16.3M | 2.1% | 30 | +20 |
| 14 | Muskegon County | 47 | $30.1M | 2.0% | 31 | +16 |
| 15 | Jackson County | 34 | $17.3M | 1.4% | 15 | +19 |
| 16 | Berrien County | 31 | $24.0M | 1.3% | 19 | +12 |
| 17 | Calhoun County | 27 | $19.2M | 1.1% | 13 | +14 |
| 18 | Bay County | 25 | $7.9M | 1.0% | 11 | +14 |
| 19 | St. Clair County | 23 | $5.1M | 1.0% | 26 | -3 |
| 20 | Monroe County | 22 | $12.8M | 0.9% | 25 | -3 |
| 21 | Midland County | 20 | $4.0M | 0.8% | 23 | -3 |
| 22 | Chippewa County | 20 | $9.7M | 0.8% | 10 | +10 |
| 23 | Barry County | 17 | $5.4M | 0.7% | 4 | +13 |
| 24 | Lenawee County | 16 | $4.2M | 0.7% | 21 | -5 |
| 25 | Emmet County | 16 | $6.6M | 0.7% | 9 | +7 |
| 26 | Leelanau County | 15 | $9.7M | 0.6% | 10 | +5 |
| 27 | Eaton County | 14 | $8.9M | 0.6% | 12 | +2 |
| 28 | Marquette County | 13 | $8.1M | 0.5% | 6 | +7 |
| 29 | Clinton County | 12 | $12.0M | 0.5% | 9 | +3 |
| 30 | Mason County | 12 | $8.1M | 0.5% | 1 | +11 |
| 31 | Cheboygan County | 11 | $5.2M | 0.5% | 6 | +5 |
| 32 | Charlevoix County | 10 | $5.4M | 0.4% | 5 | +5 |
| 33 | Crawford County | 10 | $5.8M | 0.4% | 3 | +7 |
| 34 | Otsego County | 10 | $5.5M | 0.4% | 14 | -4 |
| 35 | Shiawassee County | 10 | $5.6M | 0.4% | 9 | +1 |
| 36 | Montcalm County | 10 | $7.7M | 0.4% | 9 | +1 |
| 37 | Lapeer County | 10 | $5.5M | 0.4% | 11 | -1 |
| 38 | Newaygo County | 9 | $2.8M | 0.4% | 4 | +5 |
| 39 | Ionia County | 9 | $1.2M | 0.4% | 3 | +6 |
| 40 | Hillsdale County | 9 | $6.8M | 0.4% | 3 | +6 |
The 40 counties with the most approvals; every county is on the Michigan page.
FY2021 against FY2020
| Michigan | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 2,146 | 1,708 |
| 7(a) dollars | $1.01bn | $620M |
| Median 7(a) approval | $150K | $100K |
| 504 approvals | 245 | 182 |
| 504 dollars | $184M | $106M |
| Jobs supported, as reported | 24,606 | 15,880 |
Questions and answers
Which lenders made the most SBA loans in Michigan in FY2021?
The Huntington National Bank (1,127), Michigan Certified Development Corporation (141), ChoiceOne Bank (107), Great Lakes Commercial Finance (89), Fifth Third Bank (70). 154 lenders had at least one approval.
How many SBA loans were approved in Michigan in FY2021?
2,391: 2,146 under 7(a) worth $1.01bn and 245 under 504 worth $184M.
Which Michigan counties had the most SBA approvals in FY2021?
Oakland County (391), Wayne County (277), Kent County (266), Macomb County (251), Genesee County (111).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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