Michigan · Mining & Energy
SBA loans for mining & energy in Michigan
42 loans worth $32.7M approved since FY2010 for mining, quarrying, and oil and gas extraction projects located in Michigan.
Loans
42
Approved
$32.7M
Median loan
$361,000
+59% vs sector nationally
Median rate
5.75%
Jobs supported
944
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 mining & energy in Michigan
| Lender | Loans | Approved | Share |
|---|---|---|---|
| The Huntington National Bank | 13 | $7.3M | |
| Old National Bank | 3 | $5.4M | |
| Fifth Third Bank | 5 | $3.9M | |
| Eastern Michigan Bank | 3 | $3.6M | |
| IncredibleBank | 1 | $2.8M | |
| Oakland County Business Finance Corporation | 4 | $2.4M | |
| Horizon Bank | 2 | $2.0M | |
| Homestead Savings Bank | 1 | $1.8M |
Detail
Which industries inside the sector
All SBA lending in Michigan
39,327 loans across every sector.
Mining & Energy nationally
2,367 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to mining & energy businesses in Michigan?
- 42 SBA loans totalling $32,700,900 have been approved for mining, quarrying, and oil and gas extraction projects in Michigan since FY2010.
- Which lenders finance mining & energy in Michigan?
- The most active by dollars approved are The Huntington National Bank, Old National Bank, Fifth Third Bank, Eastern Michigan Bank. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for mining & energy in Michigan?
- The median approval is $361,000, 59% above the national median for this sector ($227,300).
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