FY20221 Oct 2021 – 30 Sep 2022
SBA loans in Michigan, FY2022
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 FY2022 (1 October 2021 to 30 September 2022) SBA approved 2,327 loans in Michigan: 2,115 under 7(a) and 212 under 504, worth $981M.
That is about level with FY2021, when there were 2,391 approvals worth $1.19bn.
Michigan accounted for 4.1% of the 56,932 approvals nationwide that year. 152 lenders had at least one approval in the state; The Huntington National Bank had the most, 1,169.
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 FY2022, of 152 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 1,169 | $179M | 50.2% | 1,127 | +42 |
| 2 | Michigan Certified Development Corporation | 504 | 118 | $93.9M | 5.1% | 141 | -23 |
| 3 | Fifth Third Bank | 7(a) | 111 | $58.8M | 4.8% | 70 | +41 |
| 4 | ChoiceOne Bank | 7(a) | 83 | $41.5M | 3.6% | 107 | -24 |
| 5 | Great Lakes Commercial Finance | 504 | 72 | $61.0M | 3.1% | 89 | -17 |
| 6 | Live Oak Banking Company | 7(a) | 41 | $58.4M | 1.8% | 37 | +4 |
| 7 | Newtek Small Business Finance, Inc. | 7(a) | 41 | $23.3M | 1.8% | 41 | 0 |
| 8 | First Internet Bank of Indiana | 7(a) | 29 | $39.6M | 1.2% | 22 | +7 |
| 9 | Oxford Bank | 7(a) | 28 | $13.8M | 1.2% | 39 | -11 |
| 10 | KeyBank National Association | 7(a) | 24 | $11.2M | 1.0% | 20 | +4 |
| 11 | United Midwest Savings Bank National Association | 7(a) | 22 | $3.7M | 0.9% | 30 | -8 |
| 12 | JPMorgan Chase Bank, National Association | 7(a) | 21 | $7.1M | 0.9% | 15 | +6 |
| 13 | PNC Bank, National Association | 7(a) | 20 | $2.7M | 0.9% | 17 | +3 |
| 14 | CDC Small Business Finance Corp. | 7(a) | 19 | $2.3M | 0.8% | 5 | +14 |
| 15 | Oakland County Business Finance Corporation | 504 | 18 | $9.9M | 0.8% | 12 | +6 |
| 16 | Byline Bank | 7(a) | 17 | $18.0M | 0.7% | 18 | -1 |
| 17 | Bank Michigan | 7(a) | 15 | $11.4M | 0.6% | 12 | +3 |
| 18 | 1st Source Bank | 7(a) | 15 | $3.5M | 0.6% | 13 | +2 |
| 19 | West Shore Bank | 7(a) | 14 | $12.4M | 0.6% | 21 | -7 |
| 20 | Citizens Bank, National Association | 7(a) | 14 | $9.0M | 0.6% | 18 | -4 |
| 21 | Celtic Bank Corporation | 7(a) | 13 | $16.1M | 0.6% | 11 | +2 |
| 22 | Old National Bank | 7(a) | 12 | $13.6M | 0.5% | 21 | -9 |
| 23 | Nicolet National Bank | 7(a) | 11 | $8.9M | 0.5% | 35 | -24 |
| 24 | Bank of America, National Association | 7(a) | 11 | $5.8M | 0.5% | 5 | +6 |
| 25 | Readycap Lending, LLC | 7(a) | 11 | $3.3M | 0.5% | 6 | +5 |
| 26 | BayFirst National Bank | 7(a) | 11 | $2.3M | 0.5% | 7 | +4 |
| 27 | Community Choice CU | 7(a) | 11 | $375K | 0.5% | 2 | +9 |
| 28 | Credit Union One | 7(a) | 10 | $2.5M | 0.4% | 12 | -2 |
| 29 | First National Bank of Michigan | 7(a) | 9 | $9.0M | 0.4% | 9 | 0 |
| 30 | Citizens Bank | 7(a) | 9 | $8.4M | 0.4% | 5 | +4 |
| 31 | Bank of Ann Arbor | 7(a) | 9 | $6.5M | 0.4% | 12 | -3 |
| 32 | Independent Bank | 7(a) | 9 | $6.4M | 0.4% | 0 | new |
| 33 | Horizon Bank | 7(a) | 9 | $6.1M | 0.4% | 11 | -2 |
| 34 | Highpoint Community Bank | 7(a) | 9 | $4.3M | 0.4% | 15 | -6 |
| 35 | Citizens National Bank of Cheboygan | 7(a) | 9 | $3.6M | 0.4% | 5 | +4 |
| 36 | Flagstar Bank National Association | 7(a) | 9 | $2.9M | 0.4% | 10 | -1 |
| 37 | Southern Michigan Bank & Trust | 7(a) | 8 | $7.5M | 0.3% | 7 | +1 |
| 38 | 1st State Bank | 7(a) | 7 | $3.8M | 0.3% | 16 | -9 |
| 39 | 4Front Credit Union | 7(a) | 7 | $3.3M | 0.3% | 28 | -21 |
| 40 | Lake Trust CU | 7(a) | 7 | $2.7M | 0.3% | 7 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|
| 1 | Oakland County | 375 | $171M | 16.1% | 391 | -16 |
| 2 | Wayne County | 338 | $128M | 14.5% | 277 | +61 |
| 3 | Macomb County | 252 | $75.9M | 10.8% | 251 | +1 |
| 4 | Kent County | 236 | $103M | 10.1% | 266 | -30 |
| 5 | Genesee County | 100 | $21.6M | 4.3% | 111 | -11 |
| 6 | Ottawa County | 92 | $45.6M | 4.0% | 93 | -1 |
| 7 | Washtenaw County | 68 | $43.4M | 2.9% | 51 | +17 |
| 8 | Kalamazoo County | 58 | $34.5M | 2.5% | 55 | +3 |
| 9 | Saginaw County | 53 | $22.0M | 2.3% | 50 | +3 |
| 10 | Livingston County | 53 | $21.6M | 2.3% | 53 | 0 |
| 11 | Ingham County | 49 | $25.7M | 2.1% | 59 | -10 |
| 12 | Grand Traverse County | 41 | $19.5M | 1.8% | 72 | -31 |
| 13 | Muskegon County | 41 | $21.9M | 1.8% | 47 | -6 |
| 14 | St. Clair County | 31 | $7.5M | 1.3% | 23 | +8 |
| 15 | Monroe County | 26 | $12.7M | 1.1% | 22 | +4 |
| 16 | Calhoun County | 25 | $25.7M | 1.1% | 27 | -2 |
| 17 | Allegan County | 23 | $11.1M | 1.0% | 51 | -28 |
| 18 | Berrien County | 23 | $13.7M | 1.0% | 31 | -8 |
| 19 | Jackson County | 22 | $8.0M | 0.9% | 34 | -12 |
| 20 | Clinton County | 21 | $5.6M | 0.9% | 12 | +9 |
| 21 | Bay County | 20 | $11.8M | 0.9% | 25 | -5 |
| 22 | Midland County | 18 | $7.0M | 0.8% | 20 | -2 |
| 23 | Eaton County | 18 | $7.3M | 0.8% | 14 | +4 |
| 24 | Lenawee County | 17 | $2.5M | 0.7% | 16 | +1 |
| 25 | Leelanau County | 16 | $10.7M | 0.7% | 15 | +1 |
| 26 | Shiawassee County | 16 | $6.1M | 0.7% | 10 | +6 |
| 27 | Montcalm County | 15 | $4.0M | 0.6% | 10 | +5 |
| 28 | Lapeer County | 15 | $6.5M | 0.6% | 10 | +5 |
| 29 | Charlevoix County | 13 | $1.6M | 0.6% | 10 | +3 |
| 30 | Barry County | 12 | $5.0M | 0.5% | 17 | -5 |
| 31 | Van Buren County | 12 | $9.0M | 0.5% | 9 | +3 |
| 32 | Benzie County | 10 | $2.7M | 0.4% | 1 | +9 |
| 33 | St. Joseph County | 10 | $6.6M | 0.4% | 9 | +1 |
| 34 | Cheboygan County | 9 | $6.8M | 0.4% | 11 | -2 |
| 35 | Newaygo County | 8 | $4.5M | 0.3% | 9 | -1 |
| 36 | Roscommon County | 8 | $3.9M | 0.3% | 4 | +4 |
| 37 | Marquette County | 8 | $3.5M | 0.3% | 13 | -5 |
| 38 | Emmet County | 8 | $1.1M | 0.3% | 16 | -8 |
| 39 | Clare County | 8 | $2.2M | 0.3% | 5 | +3 |
| 40 | Cass County | 8 | $2.0M | 0.3% | 2 | +6 |
The 40 counties with the most approvals; every county is on the Michigan page.
FY2022 against FY2021
| Michigan | FY2022 | FY2021 |
|---|---|---|
| 7(a) approvals | 2,115 | 2,146 |
| 7(a) dollars | $814M | $1.01bn |
| Median 7(a) approval | $121K | $150K |
| 504 approvals | 212 | 245 |
| 504 dollars | $167M | $184M |
| Jobs supported, as reported | 21,611 | 24,606 |
Questions and answers
Which lenders made the most SBA loans in Michigan in FY2022?
The Huntington National Bank (1,169), Michigan Certified Development Corporation (118), Fifth Third Bank (111), ChoiceOne Bank (83), Great Lakes Commercial Finance (72). 152 lenders had at least one approval.
How many SBA loans were approved in Michigan in FY2022?
2,327: 2,115 under 7(a) worth $814M and 212 under 504 worth $167M.
Which Michigan counties had the most SBA approvals in FY2022?
Oakland County (375), Wayne County (338), Macomb County (252), Kent County (236), Genesee County (100).
When does FY2022 start and end?
The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.
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