Michigan · Education
SBA loans for education in Michigan
383 loans worth $118.4M approved since FY2010 for educational services projects located in Michigan.
Loans
383
Approved
$118.4M
Median loan
$100,000
-33% vs sector nationally
Median rate
6.75%
Jobs supported
3,945
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Lenders
Who lends to education in Michigan
| Lender | Loans | Approved | Share |
|---|---|---|---|
| The Huntington National Bank | 161 | $20.4M | |
| Michigan Certified Development Corporation | 19 | $12.4M | |
| Fifth Third Bank | 28 | $9.9M | |
| Live Oak Banking Company | 3 | $6.7M | |
| Newtek Small Business Finance, Inc. | 3 | $6.7M | |
| First Merchants Bank | 12 | $6.3M | |
| Horizon Bank | 6 | $5.1M | |
| Citizens Bank | 4 | $4.1M |
Detail
Which industries inside the sector
All SBA lending in Michigan
39,327 loans across every sector.
Education nationally
15,349 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to education businesses in Michigan?
- 383 SBA loans totalling $118,356,200 have been approved for educational services projects in Michigan since FY2010.
- Which lenders finance education in Michigan?
- The most active by dollars approved are The Huntington National Bank, Michigan Certified Development Corporation, Fifth Third Bank, Live Oak Banking Company. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for education in Michigan?
- The median approval is $100,000, 33% below the national median for this sector ($150,000).
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