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SBA 7(a) record
Independent Bank, Grand Rapids, MI: SBA 7(a) loans made
Independent Bank, Grand Rapids, MI, a bank based in Grand Rapids, MI, made 100 SBA 7(a) loans in the 36 months ending September 30, 2026, $89.5M in all, net of cancelled approvals. The typical loan was about $500K, and 37 were in the last 12 months. Most were in Michigan.
- Evidence
- SBA 7(a) loans in the 36 months ending September 30, 2026, SBA
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 9, 2026
- Loans, 36 months
- 100
- SBA FOIA,
- Net of cancelled approvals
- Dollars
- $89.5M
- SBA FOIA,
- Rounded amounts
- Typical loan
- $500K
- SBA FOIA,
- Largest loan
- $5M
- SBA FOIA,
- Rounded to 2 significant figures
- Last 12 months
- 37
- SBA FOIA,
Cite this
Source: The Lender Report, Independent Bank, Grand Rapids, MI: SBA 7(a) loans made, https://lender.report/lender/independent-bank-mi/sba-7a/, data as of September 30, 2026.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| Sep 2026 | Michigan | SBA 7(a), Insurance Agencies and Brokerages | $5M | 9.5% | 10 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), All Other Industrial Machinery Manufacturing | $1.5M | 9.5% | 10 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), Lessors of Miniwarehouses and Self-Storage Units | $1.1M | 7% | 25 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), Pet Care (except Veterinary) Services | $1M | 9.5% | 10 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), General Automotive Repair | $570K | 8.5% | 20 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), All Other Industrial Machinery Manufacturing | $250K | 6.75% | 1 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), Other Building Equipment Contractors | $250K | 9.5% | 10 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), Pet Care (except Veterinary) Services | $50K | 7.75% | 10 yr | SBA FOIA | |
| Sep 2026 | Michigan | SBA 7(a), Other Building Equipment Contractors | $10K | 6.75% | 5 yr | SBA FOIA | |
| Aug 2026 | Michigan | SBA 7(a), Other Activities Related to Real Estate | $2.8M | 6.75% | 25 yr | SBA FOIA | |
| Aug 2026 | Michigan | SBA 7(a), Real Estate and Rental and Leasing | $420K | 9.5% | 20 yr | SBA FOIA | |
| Jul 2026 | Michigan | SBA 7(a), Manufacturing | $2.6M | 6.25% | 7 yr | SBA FOIA | |
| Jul 2026 | Michigan | SBA 7(a), Manufacturing | $350K | 7.5% | 5 yr | SBA FOIA | |
| Jun 2026 | Michigan | SBA 7(a), Child Care Services | $1.5M | 9.5% | 10 yr | SBA FOIA | |
| Jun 2026 | Michigan | SBA 7(a), Floor Covering Retailers | $400K | 7.75% | 10 yr | SBA FOIA | |
| Jun 2026 | Michigan | SBA 7(a), Other Personal and Household Goods Repair and Maintenance | $250K | 7.25% | 5 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Commercial and Institutional Building Construction | $2.6M | 9.5% | 10 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Book Retailers and News Dealers | $250K | 9.5% | 10 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Commercial and Institutional Building Construction | $200K | 7% | 5 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Commercial and Institutional Building Construction | $190K | 9.5% | 20 yr | SBA FOIA | |
| Apr 2026 | Michigan | SBA 7(a), Hobby, Toy, and Game Retailers | $1.2M | 9.5% | 20 yr | SBA FOIA | |
| Apr 2026 | Michigan | SBA 7(a), Poured Concrete Foundation and Structure Contractors | $680K | 9.5% | 10 yr | SBA FOIA | |
| Apr 2026 | Michigan | SBA 7(a), Site Preparation Contractors | $500K | 6.75% | 5 yr | SBA FOIA | |
| Apr 2026 | Michigan | SBA 7(a), Poured Concrete Foundation and Structure Contractors | $150K | 7% | 5 yr | SBA FOIA | |
| Apr 2026 | Michigan | SBA 7(a), Hobby, Toy, and Game Retailers | $150K | 9.25% | 5 yr | SBA FOIA | |
| 100 SBA 7(a) loans since October 2023, net of cancelled | $89.5M | SBA FOIA | |||||
A blank means the source did not report it.
| State | Loans | Dollars |
|---|---|---|
| Michigan | 97 | $82.8M |
| Illinois | 2 | $4.81M |
| Oklahoma | 1 | $1.90M |
SBA loans are on record by state only.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $150K | 12 | $730K |
| $150K to $350K | 28 | $6.22M |
| $350K to $1M | 28 | $15.1M |
| $1M to $2.5M | 22 | $32.1M |
| $2.5M or more | 10 | $35.3M |
| Quarter | Loans | Dollars |
|---|---|---|
| 2023 Q4 | 2 | $5.25M |
| 2024 Q2 | 8 | $5.78M |
| 2024 Q3 | 12 | $12.2M |
| 2024 Q4 | 11 | $7.68M |
| 2025 Q1 | 9 | $3.85M |
| 2025 Q2 | 12 | $10.7M |
| 2025 Q3 | 9 | $9.97M |
| 2025 Q4 | 7 | $3.68M |
| 2026 Q1 | 5 | $6.44M |
| 2026 Q2 | 12 | $8.07M |
| 2026 Q3 | 13 | $15.9M |
Calendar quarters of the SBA approval date. The first and last may cover part of a quarter: the window is the 36 months ending September 30, 2026.
| Industry (NAICS) | Loans |
|---|---|
| Highway, Street, and Bridge Construction (237310) | 4 |
| Automotive Parts and Accessories Retailers (441330) | 3 |
| Commercial and Institutional Building Construction (236220) | 3 |
| Engineering Services (541330) | 3 |
| Manufacturing | 3 |
| Motor Vehicle Supplies and New Parts Merchant Wholesalers (423120) | 3 |
| Pet Care (except Veterinary) Services (812910) | 3 |
| Real Estate and Rental and Leasing | 3 |
| Site Preparation Contractors (238910) | 3 |
| All Other Industrial Machinery Manufacturing (333248) | 2 |
| Architectural Services (541310) | 2 |
| Electrical Contractors and Other Wiring Installation Contractors (238210) | 2 |
A 6-digit code is printed only where the SBA file holds 5 or more loans of the program in that state; the rest show as their 2-digit sector.
| Processing method | Loans |
|---|---|
| Preferred Lenders Program | 53 |
| SBA Express Program | 37 |
| 7a General | 4 |
| Preferred Lenders with WCP | 4 |
| Working Capital CAPLine | 2 |
- Independent Bank, Grand Rapids, MI made 100 SBA 7(a) loans totaling $89.5M in the 36 months ending September 30, 2026, net of cancelled approvals, in 3 states. SBA FOIA,
- 37 of them were in the 12 months to September 30, 2026, and 41 in the 12 months before. SBA FOIA,
- The typical loan was about $500K, with the middle half between $240K and $1.2M. SBA FOIA,
- The largest was about $5M. Every amount is rounded to 2 significant figures. SBA FOIA,
- 12 loans were under $150K, and 32 were $1M or more. SBA FOIA,
- The SBA file shows a median initial rate of 9.25% on 100 loans, with the middle half between 8.00% and 10.25%. SBA FOIA,
- The median term was 10 years. SBA FOIA,
- Its loans went most often to Highway, Street, and Bridge Construction, with 4. SBA FOIA,
- The SBA file lists 53 of its loans as processed under Preferred Lenders Program. SBA FOIA,
- Its loans were most often in Michigan (97), Illinois (2) and Oklahoma (1). SBA FOIA,
What we don't know
- Whether Independent Bank, Grand Rapids, MI is taking new SBA 7(a) loans today, or how it would treat a business like yours.
- Loans that were never completed. The SBA file lists approvals, and this page leaves out the ones it marks cancelled.
- The borrower, the address and every term beyond rate and term. The public file does not show them.
SBA loans are on record by state only. Amounts are rounded to 2 significant figures and dates to the month. A 6-digit industry code is printed only where the SBA file holds 5 or more loans of the program in that state.
Loans are SBA approvals, net of cancelled approvals.
SBA does not require you to use an agent or broker for a loan application. SBA has not reviewed or endorsed this site.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.