Best SBA lenders
Best SBA lenders in Michigan
The most active SBA lenders in Michigan, ranked from every 7(a) and 504 loan in the SBA's public record, FY2010-2026. The Huntington National Bank leads with 18,479 loans funded.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026, as of 2026-03-31
Top SBA lenders in Michigan
The full Michigan ranking, by SBA loans funded since FY2010. Every figure is in-state: each lender's loans, dollars, average loan size, and 7(a) charge-off rate cover its Michigan lending only, not its national book. A charge-off rate appears only when a lender has at least 20 funded 7(a) loans in Michigan; below that line, and on 504-only lending, it reads “not reported,” never 0%.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 18,479 | $3.3B | $181K | 2.86% |
| 2 | Fifth Third Bank | 1,796 | $841.5M | $469K | 2.28% |
| 3 | Michigan Certified Development Corporation | 1,744 | $1.1B | $658K | not reported |
| 4 | JPMorgan Chase Bank, National Association | 1,620 | $307.5M | $190K | 3.58% |
| 5 | Great Lakes Commercial Finance | 963 | $599.3M | $622K | not reported |
| 6 | ChoiceOne Bank | 749 | $409.7M | $547K | 0.27% |
| 7 | Citizens Bank, National Association | 621 | $119.8M | $193K | 4.03% |
| 8 | PNC Bank, National Association | 504 | $125.8M | $250K | 1.98% |
| 9 | Horizon Bank | 474 | $148.0M | $312K | 0.21% |
| 10 | Live Oak Banking Company | 434 | $558.8M | $1.3M | 0.69% |
| 11 | First Merchants Bank | 407 | $207.3M | $509K | 2.46% |
| 12 | Old National Bank | 394 | $305.4M | $775K | 2.03% |
| 13 | Celtic Bank Corporation | 360 | $182.6M | $507K | 6.39% |
| 14 | Independent Bank | 328 | $169.6M | $517K | 0.91% |
| 15 | Oakland County Business Finance Corporation | 327 | $196.9M | $602K | not reported |
| 16 | Bank of Ann Arbor | 325 | $183.1M | $563K | 1.85% |
| 17 | KeyBank National Association | 317 | $138.3M | $436K | 1.58% |
| 18 | Northeast Bank | 314 | $47.5M | $151K | 2.23% |
| 19 | BayFirst National Bank | 274 | $51.4M | $187K | 13.50% |
| 20 | Newtek Bank, National Association | 266 | $117.7M | $442K | 0.00% |
| 21 | Oxford Bank | 249 | $145.8M | $586K | 0.00% |
| 22 | Newtek Small Business Finance, Inc. | 230 | $161.9M | $704K | 3.91% |
| 23 | Nicolet National Bank | 218 | $137.4M | $630K | 3.21% |
| 24 | Wells Fargo Bank National Association | 218 | $116.1M | $533K | 5.50% |
| 25 | United Midwest Savings Bank National Association | 216 | $85.4M | $396K | 6.02% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
7(a) banks vs 504 lenders (CDCs) in Michigan
The two SBA programs have different lenders. A 7(a) loan comes from one bank or credit union; a 504 project pairs a bank with a Certified Development Company (CDC), the nonprofit that funds the SBA-backed portion. The leaders in Michigan by each program's loans funded since FY2010:
- 1. The Huntington National Bank 18,479 loans
- 2. Fifth Third Bank 1,796 loans
- 3. JPMorgan Chase Bank, National Association 1,620 loans
- 4. ChoiceOne Bank 749 loans
- 5. Citizens Bank, National Association 621 loans
- 1. Michigan Certified Development Corporation 1,727 loans
- 2. Great Lakes Commercial Finance 963 loans
- 3. Oakland County Business Finance Corporation 327 loans
- 4. SBA CLSC Servicing 125 loans
- 5. Business Development Corporation (BDC) 35 loans
Counts are each program's funded loans in Michigan. How the two programs differ: 504 vs 7(a), by the data.
Where SBA lending concentrates in Michigan
The 3 industries with the most SBA loans in Michigan since FY2010, and the most active lender in each. A lender that leads your industry locally can matter more than the overall #1.
| Industry | Loans | Total funded | Most active lender |
|---|---|---|---|
| Transportation and Warehousing | 5,128 | $652.8M | The Huntington National Bank (4,380 loans) |
| Retail Trade | 5,024 | $1.9B | The Huntington National Bank (2,132 loans) |
| Accommodation and Food Services | 4,765 | $2.4B | The Huntington National Bank (1,921 loans) |
Full industry, city, and yearly breakdowns: SBA lending in Michigan.
How this ranking works
- “Most active” means loans funded. The ranking counts every SBA 7(a) and 504 loan funded to Michigan businesses in the SBA's public FOIA record, FY2010–2026, as of 2026-03-31. No lender pays to appear or to rank, and activity is not a fit score: the right lender for you depends on your industry, loan size, and timeline.
- The 10-loan line. A lender enters the Michigan table only with at least 10 loans funded in-state, so one-off activity never reads as a track record. Industry cells above are held to at least 30 loans.
- Charge-off is 7(a)-only and needs 20+ loans. The SBA reports charge-offs on 7(a) loans, never on 504 loans. We show an in-state rate only when a lender has at least 20 funded 7(a) loans in Michigan; anything thinner reads “not reported,” never 0%. It is a charge-off share of funded loans to date, not a lifetime default rate.
- Name collisions are excluded, and counted. The SBA does not normalize lender names across mergers and rebrands, so one name can blend several unrelated institutions. Flagged names are never ranked on this page; each exclusion is disclosed under the table.
The exact calculations and limits: methodology.
Best SBA lenders in Michigan: frequently asked questions
Who is the most active SBA lender in Michigan?
The Huntington National Bank is the most active SBA lender in Michigan in the public record, with 18,479 7(a) and 504 loans funded since FY2010 ($3.3B in Michigan). The ranking counts loans funded, never who pays us.
Do these lenders only serve Michigan?
No. The ranking measures activity in Michigan: loans funded to Michigan businesses in the SBA's record. Many of these lenders are national or multi-state institutions; the loans, dollars, and charge-off figures shown are their Michigan lending only.
What's the difference between a 7(a) lender and a CDC?
A 7(a) lender is a bank or credit union that funds an SBA-guaranteed loan directly. A Certified Development Company (CDC) is a nonprofit that funds the SBA-backed portion of a 504 project alongside a bank. Charge-off is reported only on 7(a) loans, so a 504-only CDC shows "not reported," never 0%.
How many SBA lenders are active in Michigan?
156 lenders have funded at least 10 SBA loans in Michigan since FY2010 in the public record (as of 2026-03-31). The table above names the 25 most active of them; names that blend several same-named institutions are excluded from rankings.
Mario Bailey. (2026). Best SBA lenders in Michigan. SBA Loan Index. https://sbaloanindex.com/best-sba-lenders/in/mi/
Free to cite and quote with attribution and a link. Members of the press can reach us via our press page.
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