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Michigan · Retail
SBA loans for retail in Michigan
3,529 loans worth $1.52B approved since FY2010 for retail trade projects located in Michigan.
Loans
3,529
Approved
$1.52B
Median loan
$200,000
-20% vs sector nationally
Median rate
6.00%
Jobs supported
28,488
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 retail in Michigan
| Lender | Loans | Approved | Share |
|---|---|---|---|
| The Huntington National Bank | 1,391 | $313.0M | |
| First Internet Bank of Indiana | 76 | $108.2M | |
| Fifth Third Bank | 228 | $106.5M | |
| Michigan Certified Development Corporation | 146 | $94.6M | |
| Byline Bank | 44 | $51.2M | |
| ChoiceOne Bank | 85 | $47.3M | |
| Live Oak Banking Company | 42 | $45.6M | |
| First Merchants Bank | 87 | $45.3M |
Detail
Which industries inside the sector
An SBA 7(a) lender for loans this size
The median SBA loan approved for retail in Michigan since FY2010 was $200,000. 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.
Retail nationally
91,542 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to retail businesses in Michigan?
- 3,529 SBA loans totalling $1,521,207,800 have been approved for retail trade projects in Michigan since FY2010.
- Which lenders finance retail in Michigan?
- The most active by dollars approved are The Huntington National Bank, First Internet Bank of Indiana, Fifth Third Bank, Michigan Certified Development Corporation. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for retail in Michigan?
- The median approval is $200,000, 20% below the national median for this sector ($250,000).
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