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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
| Industry | Loans | Share |
|---|---|---|
| Construction Sand and Gravel Mining | 15 | |
| Support Activities for Oil and Gas Operations | 11 | |
| Drilling Oil and Gas Wells | 5 | |
| Other Crushed and Broken Stone Mining and Quarrying | 2 | |
| Crushed and Broken Limestone Mining and Quarrying | 2 | |
| Support Activities for Metal Mining | 2 | |
| Dimension Stone Mining and Quarrying | 1 | |
| Natural Gas Liquid Extraction | 1 |
An SBA 7(a) lender for loans this size
The median SBA loan approved for mining & energy in Michigan since FY2010 was $361,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
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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