SBA lender profile
Lake Michigan CU
Lake Michigan CU appears in the public SBA loan data with 312 funded 7(a) loans totaling $313.7M, an average of $1.0M per loan, and an estimated 5,285 jobs supported. Its SBA lending concentrates in Florida and the Wholesale Trade sector. Across all of its loans in the data, its charge-off rate is 1.3%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
312
Total volume
$313.7M
Average loan size
$1.0M
Charge-off rate
1.3%
Share of funded loans charged off
Jobs supported (reported)
5,285
Programs
7(a)
Where Lake Michigan CU lends
Top states by funded SBA volume.
What Lake Michigan CU funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Wholesale Trade | 29 | $52.5M |
| Accommodation and Food Services | 46 | $37.5M |
| Manufacturing | 19 | $34.0M |
| Construction | 33 | $30.5M |
| Retail Trade | 29 | $30.1M |
| Administrative and Support | 27 | $27.7M |
Lake Michigan CU SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2020 | 41 | $55.6M |
| 2021 | 103 | $110.0M |
| 2022 | 38 | $37.8M |
| 2023 | 59 | $55.7M |
| 2024 | 41 | $31.9M |
| 2025 | 16 | $8.7M |
| 2026 | 14 | $13.9M |
Sources and disclaimer. All figures are computed from
the U.S. Small Business Administration's public FOIA 7(a) and 504 loan data (as of 2026-03-31),
as described in our methodology.
The charge-off rate is the share of Lake Michigan CU's funded loans marked charged off across all of its
loans in the data; it is not a lifetime default rate. SBA Loan Index is not affiliated with the
SBA and is not a lender, broker, or financial advisor. This is general information, not advice.
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