SBA Loans – Detroit

Last update: Jun 22, 2024

Small business loans in Detroit are available from many SBA lenders. Here are the most active Detroit SBA lenders:

Top SBA Lenders in Detroit

RankSBA LenderHeadquarters# Loans Avg LoanAvg Interest
1Huntington BankCOLUMBUS, OH40 $184,07310.1%
2Comerica BankDALLAS, TX8 $219,3759.8%
3First Internet Bank of IndianaFISHERS, IN6 $1,255,83310.8%
4Newtek BankMiami, FL6 $712,50011.9%
5Noah BankMiami, FL6 $712,50011.9%
6BayFirst National BankSaint Petersburg, FL4 $150,00012.4%
7Newtek Small Business FinanceLAKE SUCCESS, NY4 $137,50011.6%
8Byline BankCHICAGO, IL3 $2,160,33310.8%
9Northeast BankLEWISTON, ME3 $95,50011.3%
10Bank of AmericaCHARLOTTE, NC2 $447,9008.8%
11CDC Small Business FinanceSan Diego, CA2 $149,90012.9%
12First Merchants BankMUNCIE, IN2 $50,00012.1%
13First Savings BankJeffersonville, IN2 $1,292,5009.9%
14Grasshopper BankNew York, NY2 $947,00010.1%
15Michigan Schools & Government CUCLINTON TOWNSHIP, MI2 $130,3507.5%

Top Industries for SBA Loans in Detroit

RankIndustry# Loans Avg LoanAvg Interest
1Limited-Service Restaurants5 $124,20010.2%
2General Freight Trucking, Long Distance, Truckload4 $66,2509.8%
3Snack and Nonalcoholic Beverage Bars4 $53,2509.6%
4Full-Service Restaurants3 $825,66711.4%
5General Automotive Repair3 $45,66710.4%
6Landscaping Services3 $118,33310.5%
7Plumbing, Heating, and Air-Conditioning Contractors3 $475,2679.6%
8Promoters of Performing Arts, Sports, and Similar Events with Faciliti3 $834,26710.8%
9Barber Shops2 $51,45010.9%
10Commercial and Institutional Building Construction2 $150,00012.4%

  Connect me to a Detroit lender!  

Many entrepreneurs search for “business loans near me” or “SBA lenders near me,” but the reality is often times the best banks for Detroit SBA loans are not local but national SBA preferred lenders. Connect with us and we can connect you today with local or national SBA banks that are small business loan experts.