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Michigan · Utilities
SBA loans for utilities in Michigan
27 loans worth $8.2M approved since FY2010 for utilities projects located in Michigan.
Loans
27
Approved
$8.2M
Median loan
$221,000
+38% vs sector nationally
Median rate
6.00%
Jobs supported
178
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 utilities in Michigan
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Byline Bank | 7 | $4.1M | |
| Fifth Third Bank | 1 | $1.0M | |
| The Huntington National Bank | 7 | $511K | |
| Bank of Ann Arbor | 1 | $500K | |
| JPMorgan Chase Bank | 1 | $400K | |
| Metro Community Development, Inc. | 1 | $350K | |
| Great Lakes Commercial Finance | 1 | $290K | |
| PNC Bank | 1 | $233K |
Detail
Which industries inside the sector
| Industry | Loans | Share |
|---|---|---|
| Water Supply and Irrigation Systems | 15 | |
| Electric Power Distribution | 7 | |
| Natural Gas Distribution | 2 | |
| Other Electric Power Generation | 1 | |
| Solar Electric Power Generation | 1 | |
| Biomass Electric Power Generation | 1 |
An SBA 7(a) lender for loans this size
The median SBA loan approved for utilities in Michigan since FY2010 was $221,000. 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.
Utilities nationally
1,100 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to utilities businesses in Michigan?
- 27 SBA loans totalling $8,216,000 have been approved for utilities projects in Michigan since FY2010.
- Which lenders finance utilities in Michigan?
- The most active by dollars approved are Byline Bank, Fifth Third Bank, The Huntington National Bank, Bank of Ann Arbor. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for utilities in Michigan?
- The median approval is $221,000, 38% above the national median for this sector ($160,000).
We are a publisher, not a lender or broker. We never take applications and are never paid by borrowers. Read the full disclosures.