FY20251 Oct 2024 – 30 Sep 2025
SBA loans in Michigan, FY2025
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 FY2025 (1 October 2024 to 30 September 2025) SBA approved 2,625 loans in Michigan: 2,481 under 7(a) and 144 under 504, worth $1.12bn.
That is down 8% on FY2024, when there were 2,838 approvals worth $1.10bn.
Michigan accounted for 3.1% of the 84,840 approvals nationwide that year. 151 lenders had at least one approval in the state; The Huntington National Bank had the most, 1,080.
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 FY2025, of 151 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 1,080 | $207M | 41.1% | 1,398 | -318 |
| 2 | Northeast Bank | 7(a) | 154 | $23.6M | 5.9% | 59 | +95 |
| 3 | Newtek Bank, National Association | 7(a) | 103 | $42.2M | 3.9% | 85 | +18 |
| 4 | Fifth Third Bank | 7(a) | 85 | $44.4M | 3.2% | 108 | -23 |
| 5 | Readycap Lending, LLC | 7(a) | 74 | $21.5M | 2.8% | 70 | +4 |
| 6 | Michigan Certified Development Corporation | 504 | 65 | $58.9M | 2.5% | 74 | -9 |
| 7 | Horizon Bank | 7(a) | 59 | $27.5M | 2.2% | 51 | +8 |
| 8 | Great Lakes Commercial Finance | 504 | 58 | $61.5M | 2.2% | 37 | +21 |
| 9 | Independent Bank | 7(a) | 50 | $36.1M | 1.9% | 24 | +26 |
| 10 | Live Oak Banking Company | 7(a) | 48 | $70.5M | 1.8% | 44 | +4 |
| 11 | Celtic Bank Corporation | 7(a) | 48 | $16.2M | 1.8% | 23 | +25 |
| 12 | JPMorgan Chase Bank, National Association | 7(a) | 39 | $12.6M | 1.5% | 66 | -27 |
| 13 | ChoiceOne Bank | 7(a) | 34 | $20.6M | 1.3% | 72 | -38 |
| 14 | BayFirst National Bank | 7(a) | 31 | $4.9M | 1.2% | 60 | -29 |
| 15 | First Internet Bank of Indiana | 7(a) | 29 | $36.3M | 1.1% | 36 | -7 |
| 16 | United Midwest Savings Bank National Association | 7(a) | 26 | $10.5M | 1.0% | 21 | +5 |
| 17 | Oxford Bank | 7(a) | 23 | $12.0M | 0.9% | 27 | -4 |
| 18 | United FCU | 7(a) | 22 | $17.3M | 0.8% | 1 | +21 |
| 19 | Community Choice CU | 7(a) | 19 | $17.2M | 0.7% | 7 | +12 |
| 20 | KeyBank National Association | 7(a) | 19 | $8.2M | 0.7% | 22 | -3 |
| 21 | 4Front Credit Union | 7(a) | 19 | $4.6M | 0.7% | 14 | +5 |
| 22 | Lendistry SBLC, LLC | 7(a) | 19 | $3.7M | 0.7% | 10 | +9 |
| 23 | Old National Bank | 7(a) | 18 | $20.3M | 0.7% | 30 | -12 |
| 24 | First Merchants Bank | 7(a) | 18 | $2.2M | 0.7% | 27 | -9 |
| 25 | Oakland County Business Finance Corporation | 504 | 15 | $12.7M | 0.6% | 7 | +8 |
| 26 | Bank of America, National Association | 7(a) | 15 | $9.7M | 0.6% | 19 | -4 |
| 27 | LAF CU | 7(a) | 14 | $6.8M | 0.5% | 3 | +11 |
| 28 | PNC Bank, National Association | 7(a) | 14 | $3.2M | 0.5% | 35 | -21 |
| 29 | 1st State Bank | 7(a) | 13 | $6.0M | 0.5% | 4 | +9 |
| 30 | Bank of Ann Arbor | 7(a) | 12 | $11.9M | 0.5% | 6 | +6 |
| 31 | Lake Michigan CU | 7(a) | 11 | $7.2M | 0.4% | 16 | -5 |
| 32 | Shoreham Bank | 7(a) | 10 | $14.0M | 0.4% | 7 | +3 |
| 33 | Byline Bank | 7(a) | 10 | $8.4M | 0.4% | 15 | -5 |
| 34 | DFCU Financial | 7(a) | 10 | $7.7M | 0.4% | 8 | +2 |
| 35 | Michigan Schools and Government Credit Union | 7(a) | 9 | $3.9M | 0.3% | 5 | +4 |
| 36 | Highpoint Community Bank | 7(a) | 9 | $3.2M | 0.3% | 3 | +6 |
| 37 | Lake Trust CU | 7(a) | 9 | $2.9M | 0.3% | 6 | +3 |
| 38 | Bank Michigan | 7(a) | 8 | $8.3M | 0.3% | 19 | -11 |
| 39 | Omni Community Credit Union | 7(a) | 8 | $4.0M | 0.3% | 3 | +5 |
| 40 | First Bank of the Lake | 7(a) | 8 | $3.2M | 0.3% | 14 | -6 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|
| 1 | Oakland County | 515 | $268M | 19.6% | 488 | +27 |
| 2 | Wayne County | 427 | $189M | 16.3% | 432 | -5 |
| 3 | Macomb County | 245 | $80.3M | 9.3% | 282 | -37 |
| 4 | Kent County | 237 | $99.2M | 9.0% | 293 | -56 |
| 5 | Ottawa County | 91 | $34.8M | 3.5% | 108 | -17 |
| 6 | Genesee County | 90 | $34.2M | 3.4% | 113 | -23 |
| 7 | Washtenaw County | 87 | $32.7M | 3.3% | 109 | -22 |
| 8 | Ingham County | 77 | $35.2M | 2.9% | 79 | -2 |
| 9 | Livingston County | 52 | $24.1M | 2.0% | 60 | -8 |
| 10 | Kalamazoo County | 44 | $19.7M | 1.7% | 48 | -4 |
| 11 | Grand Traverse County | 43 | $13.5M | 1.6% | 45 | -2 |
| 12 | Jackson County | 41 | $21.0M | 1.6% | 24 | +17 |
| 13 | Allegan County | 35 | $16.0M | 1.3% | 39 | -4 |
| 14 | Berrien County | 35 | $19.5M | 1.3% | 29 | +6 |
| 15 | Monroe County | 33 | $13.2M | 1.3% | 49 | -16 |
| 16 | St. Clair County | 32 | $10.5M | 1.2% | 40 | -8 |
| 17 | Saginaw County | 32 | $12.3M | 1.2% | 62 | -30 |
| 18 | Muskegon County | 31 | $13.1M | 1.2% | 36 | -5 |
| 19 | Calhoun County | 30 | $14.9M | 1.1% | 26 | +4 |
| 20 | Van Buren County | 27 | $8.2M | 1.0% | 16 | +11 |
| 21 | Emmet County | 22 | $8.0M | 0.8% | 20 | +2 |
| 22 | Shiawassee County | 21 | $7.5M | 0.8% | 23 | -2 |
| 23 | Montcalm County | 20 | $11.6M | 0.8% | 12 | +8 |
| 24 | Wexford County | 19 | $6.6M | 0.7% | 2 | +17 |
| 25 | Bay County | 18 | $9.4M | 0.7% | 25 | -7 |
| 26 | Eaton County | 18 | $8.5M | 0.7% | 23 | -5 |
| 27 | Clinton County | 17 | $8.4M | 0.6% | 7 | +10 |
| 28 | Newaygo County | 15 | $6.3M | 0.6% | 16 | -1 |
| 29 | Lenawee County | 14 | $13.7M | 0.5% | 15 | -1 |
| 30 | Ionia County | 13 | $2.3M | 0.5% | 11 | +2 |
| 31 | Lapeer County | 13 | $3.4M | 0.5% | 18 | -5 |
| 32 | Midland County | 12 | $3.2M | 0.5% | 17 | -5 |
| 33 | Cass County | 12 | $2.5M | 0.5% | 8 | +4 |
| 34 | Barry County | 11 | $1.9M | 0.4% | 11 | 0 |
| 35 | St. Joseph County | 9 | $8.6M | 0.3% | 10 | -1 |
| 36 | Isabella County | 8 | $1.7M | 0.3% | 10 | -2 |
| 37 | Mecosta County | 8 | $965K | 0.3% | 5 | +3 |
| 38 | Charlevoix County | 8 | $1.5M | 0.3% | 15 | -7 |
| 39 | Sanilac County | 8 | $2.2M | 0.3% | 8 | 0 |
| 40 | Osceola County | 8 | $1.1M | 0.3% | 11 | -3 |
The 40 counties with the most approvals; every county is on the Michigan page.
FY2025 against FY2024
| Michigan | FY2025 | FY2024 |
|---|---|---|
| 7(a) approvals | 2,481 | 2,715 |
| 7(a) dollars | $982M | $971M |
| Median 7(a) approval | $150K | $100K |
| 504 approvals | 144 | 123 |
| 504 dollars | $135M | $134M |
| Jobs supported, as reported | 24,749 | 26,954 |
Questions and answers
Which lenders made the most SBA loans in Michigan in FY2025?
The Huntington National Bank (1,080), Northeast Bank (154), Newtek Bank, National Association (103), Fifth Third Bank (85), Readycap Lending, LLC (74). 151 lenders had at least one approval.
How many SBA loans were approved in Michigan in FY2025?
2,625: 2,481 under 7(a) worth $982M and 144 under 504 worth $135M.
Which Michigan counties had the most SBA approvals in FY2025?
Oakland County (515), Wayne County (427), Macomb County (245), Kent County (237), Ottawa County (91).
When does FY2025 start and end?
The federal fiscal year 2025 runs from 1 October 2024 to 30 September 2025.
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