Michigan · Finance & Insurance
SBA loans for finance & insurance in Michigan
595 loans worth $238.8M approved since FY2010 for finance and insurance projects located in Michigan.
Loans
595
Approved
$238.8M
Median loan
$180,000
-10% vs sector nationally
Median rate
6.50%
Jobs supported
3,692
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 finance & insurance in Michigan
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Live Oak Banking Company | 59 | $64.1M | |
| The Huntington National Bank | 160 | $29.0M | |
| Michigan Certified Development Corporation | 37 | $14.6M | |
| Fifth Third Bank | 43 | $13.6M | |
| Byline Bank | 12 | $11.1M | |
| Newtek Bank | 6 | $8.5M | |
| Great Lakes Commercial Finance | 21 | $8.2M | |
| United Midwest Savings Bank | 3 | $6.1M |
Detail
Which industries inside the sector
All SBA lending in Michigan
39,327 loans across every sector.
Finance & Insurance nationally
18,357 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to finance & insurance businesses in Michigan?
- 595 SBA loans totalling $238,802,000 have been approved for finance and insurance projects in Michigan since FY2010.
- Which lenders finance finance & insurance in Michigan?
- The most active by dollars approved are Live Oak Banking Company, The Huntington National Bank, Michigan Certified Development Corporation, Fifth Third Bank. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for finance & insurance in Michigan?
- The median approval is $180,000, 10% below the national median for this sector ($200,000).
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