Last annual update:
Nationwide banks were among the largest lenders to “The Great Lakes State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in Michigan:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Huntington National | Columbus, OH | 1312 | $130,479 | 6.9% |
| 2 | Chemical Bank | Midland, MI | 118 | $462,170 | 6.1% |
| 3 | JPMorgan Chase Bank | Columbus, OH | 75 | $253,187 | 8.1% |
| 4 | Fifth Third Bank | Cincinnati, OH | 56 | $162,364 | 7.1% |
| 5 | Citizens Bank | Providence, RI | 53 | $201,758 | 6.9% |
| 6 | Comerica Bank | Dallas, TX | 53 | $364,540 | 6.4% |
| 7 | Independence Bank | East Greenwich, RI | 47 | $123,404 | 6.6% |
| 8 | The State Bank | Fenton, MI | 37 | $410,727 | 6.1% |
| 9 | Celtic Bank | Salt Lake City, UT | 36 | $393,433 | 7.5% |
| 10 | PNC Bank | Wilmington, DE | 34 | $215,765 | 7.3% |
| 11 | Oxford Bank | Oxford, MI | 26 | $823,181 | 7.0% |
| 12 | mBank | Manistique, MI | 25 | $452,988 | 6.7% |
| 13 | First Home Bank | Seminole, FL | 24 | $230,417 | 7.7% |
| 14 | Newtek Small Business | Lake Success, NY | 24 | $563,654 | 7.8% |
| 15 | Live Oak | Wilmington, NC | 22 | $1,265,045 | 7.0% |
| 16 | Byline Bank | Chicago, IL | 21 | $1,125,357 | 7.8% |
| 17 | KeyBank | Cleveland, OH | 21 | $456,867 | 7.5% |
| 18 | 1st Source Bank | South Bend, IN | 17 | $103,565 | 7.1% |
| 19 | Level One Bank | Farmington Hills, MI | 17 | $724,612 | 6.3% |
| 20 | United Midwest Savings Bank | De Graff, OH | 17 | $418,235 | 7.5% |
| 21 | Horizon Bank | Michigan City, IN | 15 | $225,680 | 6.1% |
| 22 | BankUnited | Miami Lakes, FL | 14 | $1,002,193 | 7.4% |
| 23 | ChoiceOne Bank | Sparta, MI | 12 | $342,933 | 6.2% |
| 24 | Old National Bank | Evansville, IN | 12 | $1,232,708 | 5.9% |
| 25 | Stearns Bank | Saint Cloud, MN | 11 | $191,945 | 7.6% |
| 26 | Hastings City Bank | Hastings, MI | 10 | $181,660 | 7.6% |
| 27 | Wells Fargo | Sioux Falls, SD | 10 | $768,830 | 7.6% |
| 28 | Flagstar Bank, FSB | Troy, MI | 9 | $141,667 | 6.8% |
| 29 | Bank of Ann Arbor | Ann Arbor, MI | 8 | $675,875 | 6.6% |
| 30 | Capitol National Bank | Lansing, MI | 7 | $433,114 | 7.1% |