SBA 504 · MI
SBA 504 lenders in Michigan
87 lenders provided the first lien on at least one SBA 504 project in Michigan in the 36 months ending September 30, 2026. ChoiceOne Bank made the most, with 22 of the 383 on record.
- Evidence
- Lender provided the first lien on at least one SBA 504 project in Michigan in the 36 months ending September 30, 2026
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 87
- SBA FOIA,
- First liens, 36 months
- 383
- SBA FOIA,
- Approvals, net of cancelled
- Dollars, 36 months
- $507M
- SBA FOIA,
- Approvals, last 12 months (funded or not)
- 125
- SBA FOIA,
- -10.7% from the prior 12 months
Cite this
Source: The Lender Report, SBA 504 lenders in Michigan, https://lender.report/sba-504-lenders/michigan/, data as of September 30, 2026.
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Dollars are first-lien amounts on SBA 504 approvals.
- Lenders recorded 383 SBA 504 first liens totaling $507.1M in Michigan in the 36 months ending September 30, 2026. SBA FOIA,
- Banks and savings institutions made 288 of those, credit unions 90, and non-banks 3. SBA FOIA,
- The five most active lenders made 20.6% of Michigan's SBA 504 first liens. SBA FOIA,
- First National Bank of Michigan recorded the most dollars in Michigan, at $29.6M. SBA FOIA,
- 54 of these lenders are based in Michigan. SBA FOIA,
- 12 lenders recorded 10 or more SBA 504 first liens in Michigan. SBA FOIA,
- 2 of these first liens were made by lenders that have since merged or closed, or that the file lists under a name with no lender record here. They are counted in the totals here and appear in no lender's row. SBA FOIA,
- The SBA file shows 125 SBA 504 approvals in Michigan dated in the 12 months to September 30, 2026, versus 140 in the prior 12 months. Both counts leave out cancelled approvals and include approvals not yet funded, so the two periods are measured the same way. SBA FOIA,
- The typical SBA 504 first lien in Michigan was about $660K, with the middle half between $380K and $1.3M. SBA FOIA,
- The median term in Michigan was 25 years. SBA FOIA,
How this list is defined
- Measure
- SBA 504 first liens in Michigan
- Period
- October 2023 to September 2026
- Formula
- Count, by lender, of SBA 504 projects located in Michigan with an approval date in the 36 months ending September 30, 2026, not cancelled, that name the lender as first-lien lender.
- Order
- Largest first by first liens in the 36 months, then dollars, then name. Payment is not part of the order.
- As of
- September 30, 2026
- Source
- SBA FOIA
- Changelog
- : First published, with the data built on this date.
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An SBA 504 project pairs a first-lien lender with a Certified Development Company that funds a second lien, for owner-occupied real estate and equipment.
SBA 504 figures count the first-lien lender on each SBA approval. A project marked not funded is often recent and awaiting funding.
Each lender is counted only where the public file places the loan. Lenders that merged or stopped filing are left out.
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.