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 10 SBA Lenders in Michigan:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Huntington National | Columbus, OH | 1263 | $159,467 | 6.1% |
| 2 | Chemical Bank | Midland, MI | 136 | $513,526 | 5.6% |
| 3 | Citizens Bank | Providence, RI | 118 | $156,359 | 5.9% |
| 4 | JPMorgan Chase Bank | Columbus, OH | 102 | $185,462 | 7.2% |
| 5 | Fifth Third Bank | Cincinnati, OH | 85 | $217,954 | 5.5% |
| 6 | Comerica Bank | Dallas, TX | 70 | $601,664 | 5.5% |
| 7 | Celtic Bank | Salt Lake City, UT | 38 | $519,206 | 6.8% |
| 8 | PNC Bank | Wilmington, DE | 35 | $146,154 | 6.8% |
| 9 | Horizon Bank | Michigan City, IN | 34 | $195,671 | 5.8% |
| 10 | Live Oak | Wilmington, NC | 29 | $1,584,172 | 6.0% |
| 11 | BankUnited | Miami Lakes, FL | 26 | $753,804 | 6.6% |
| 12 | The State Bank | Fenton, MI | 25 | $454,500 | 5.6% |
| 13 | 1st Source Bank | South Bend, IN | 24 | $125,367 | 6.1% |
| 14 | First Home Bank | Seminole, FL | 23 | $238,261 | 6.8% |
| 15 | Byline Bank | Chicago, IL | 22 | $975,727 | 6.8% |
| 16 | mBank | Manistique, MI | 19 | $610,816 | 5.9% |
| 17 | Hastings City Bank | Hastings, MI | 18 | $196,739 | 6.5% |
| 18 | Flagstar Bank, FSB | Troy, MI | 17 | $137,306 | 6.1% |
| 19 | KeyBank | Cleveland, OH | 16 | $363,356 | 6.4% |
| 20 | Oxford Bank | Oxford, MI | 16 | $934,544 | 6.5% |
| 21 | Northern Economic Initiative Corp | Marquette, MI | 15 | $122,733 | 7.1% |
| 22 | Independence Bank | East Greenwich, RI | 14 | $94,643 | 7.5% |
| 23 | Old National Bank | Evansville, IN | 14 | $689,843 | 5.1% |
| 24 | Honor Bank | Honor, MI | 13 | $146,285 | 5.4% |
| 25 | Wells Fargo | Sioux Falls, SD | 13 | $505,977 | 6.9% |
| 26 | First National Bank of Michigan | Kalamazoo, MI | 12 | $273,942 | 5.2% |
| 27 | Newtek Small Business | Lake Success, NY | 12 | $716,817 | 6.9% |
| 28 | Capitol National Bank | Lansing, MI | 11 | $286,955 | 6.0% |
| 29 | Hantz Bank | Southfield, MI | 11 | $384,545 | 6.1% |
| 30 | Michigan State University FCU | East Lansing, MI | 11 | $196,155 | 6.0% |