Best Michigan SBA Lenders & Rates of 2026

Compare 143 SBA lenders in Michigan. $869.1M funded across 2,120 businesses. Average rate 9.68%. Get matched free.

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Best Michigan SBA Lenders & Rates of 2026

$869.1M
Total Funded

2,120
Loans Approved

$410K
Avg Loan Size

9.68%
Avg Interest Rate

143
Active Lenders

SBA Loans in Michigan

Michigan businesses received $869.1M in SBA 7(a) loan approvals across 2,120 businesses in 2025. With 143 active SBA lenders competing for business in Michigan, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in Michigan is $410K, with rates averaging 9.68%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Top SBA Lenders in Michigan (2025)

Based on official SBA data analyzed by GoSBA Loans, these are the banks that funded the most SBA 7(a) loans to Michigan businesses:

RankLenderVolumeLoansAvg Rate
1The Huntington National Bank$173.3M9219.60%
2Live Oak Banking Company$58.2M518.97%
3Independent Bank$32.3M468.93%
4Newtek Bank, National Association$31.3M8510.66%
5Comerica Bank$28.5M498.73%
6First Internet Bank of Indiana$27.8M209.76%
7Horizon Bank$23.0M468.15%
8ChoiceOne Bank$21.4M308.21%
9Community Choice CU$20.3M199.46%
10Northeast Bank$19.4M11910.81%
11GBank$19.2M68.63%
12United FCU$19.2M239.89%
13Old National Bank$19.0M187.91%
14Shoreham Bank$18.0M109.40%
15Celtic Bank Corporation$15.7M4310.49%
16Readycap Lending, LLC$15.1M5511.79%
17JPMorgan Chase Bank, National Association$12.8M3410.68%
18Oxford Bank$12.3M249.64%
19LAF CU$9.9M169.75%
20Fifth Third Bank$9.6M2010.34%

🤝 How to Get an SBA Loan in Michigan

Many top SBA lenders work primarily through approved SBA loan brokers. This is good news for borrowers:

  • Better Match: Get matched with the right lender for your situation
  • Negotiating Power: Broker relationships can result in better rates
  • Time Savings: One application goes to multiple lenders
  • Expert Guidance: Maximize your approval chances

GoSBA Loans works with lenders across Michigan and can help you access the best loan programs. Our service is completely free to borrowers.

📞 Get Matched with Michigan SBA Lenders

Ready to apply for an SBA loan in Michigan? Our team can help you get matched with the right lender and program for your business.

Looking for SBA lenders in other states? GoSBA Loans works with 75+ SBA lenders nationwide. Contact us to get matched with the best lender for your specific business needs.

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Ishan Jetley

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.
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