SBA Loans for Professional Services in Michigan
Since fiscal year 2021, at least 93 lenders made 922 SBA loans to Professional Services businesses in Michigan. These are the most active, based on public SBA data.
Most active SBA lenders for Professional Services in Michigan
| # | Lender | Industry loans | Average | To startups | Programs |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank Columbus, OH | 383 | $168,791 | 26% | 7(a), Express |
| 2 | Northeast Bank Lewiston, ME | 46 | $147,807 | 7% | 7(a) |
| 3 | Newtek Bank, National Association Miami, FL | 44 | $422,370 | 15% | 7(a), Express |
| 4 | Fifth Third Bank Cincinnati, OH | 38 | $596,363 | 18% | 7(a), Express |
| 5 | Readycap Lending, LLC Berkeley Heights, NJ | 37 | $302,754 | 14% | 7(a), Express |
| 6 | JPMorgan Chase Bank, National Association Columbus, OH | 31 | $341,020 | 13% | 7(a), Express |
| 7 | BayFirst National Bank Saint Petersburg, FL | 25 | $159,655 | 6% | 7(a) |
| 8 | Live Oak Banking Company Wilmington, NC | 19 | $1,334,820 | 21% | 7(a), Express |
| 9 | ChoiceOne Bank Sparta, MI | 17 | $647,166 | 32% | 7(a), Express |
| 10 | PNC Bank, National Association Wilmington, DE | 16 | $229,880 | 39% | 7(a), Express |
Related guide: What Is an SBA Loan and How Does It Work?
Other industries in Michigan
- Construction1,896 loans
- Retail Stores1,621 loans
- Restaurants & Lodging1,561 loans
- Trucking & Transportation1,409 loans
- Personal Services & Repair1,247 loans
- Health Care1,068 loans
- Manufacturing907 loans
- Cleaning, Landscaping & Admin739 loans
Frequently asked questions
Which lenders make the most SBA loans to Professional Services businesses in Michigan?
Based on public SBA data, the most active were The Huntington National Bank, Northeast Bank, Newtek Bank, National Association.
How many SBA loans did Professional Services businesses get in Michigan?
922 SBA loans since fiscal year 2021, from at least 93 different lenders.
Which SBA loan fits a Professional Services business?
Most use a 7(a) for equipment, build-out, working capital or buying a business, and a 504 to buy their building. For under $50,000, look at Microloans.
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Data: approved loans published by the SBA. Past lending does not guarantee your approval. We are not a lender and are not affiliated with the SBA.