SBA acquisition lenders in Michigan
Michigan borrowers closed 457 SBA change-of-ownership loans from FY2025 to FY2026 Q3: $417M approved, a median deal of $573,000, and a median initial rate of 9.00%.
- Loans
- 457
- Approved
- $417M
- Median deal
- $573,000
- Median rate
- 9.00%
- Charged off
- 0.73%
FY2025 to FY2026 Q3
gross approvals
national $709,300
national 9.25%
547 FY2020-22 loans
Charge-off means SBA wrote the loan off as a loss. The rate covers the FY2020-22 approval cohort, not the window above, because recent loans have had less time to go bad, and is shown only for states with 100 or more cohort loans. Charge-off rates by lender
Most active lenders in Michigan
Ranked by change-of-ownership loans closed in Michigan, FY2025 to FY2026 Q3. Medians cover in-state loans only.
| Rank | Lender | Loans in MI | Median size | Median rate |
|---|---|---|---|---|
| 1 | Huntington National Bank | 125 | $250,000 | 9.25% |
| 2 | United FCU | 29 | $825,000 | 9.75% |
| 3 | Fifth Third Bank | 26 | $906,900 | 7.50% |
| 4 | Live Oak Banking Company | 26 | $878,000 | 8.93% |
| 5 | Horizon Bank | 19 | $500,000 | 8.25% |
| 6 | First Internet Bank of Indiana | 18 | $1,076,000 | 9.75% |
| 7 | Old National Bank | 18 | $522,300 | 8.50% |
| 8 | ChoiceOne Bank | 14 | $422,550 | 8.38% |
| 9 | DFCU Financial | 9 | $531,300 | 9.50% |
| 10 | Newtek Bank, National Association | 9 | $200,000 | 10.50% |
Lenders with fewer than 5 Michigan loans in the window are not listed: medians from a handful of loans are not meaningful. The full national ranking is in the lender directory.
The median initial rate on Michigan acquisition loans, 9.00%, is below the national median of 9.25% for the same window.
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The deal analyzer prices an acquisition with current SBA terms and shows whether the numbers cover the debt.
Open the deal analyzerThe full lender directory
Every 7(a) acquisition lender in the country, searchable and sortable, with loan counts, medians, and rates.
Browse all lendersSource: SBA 7(a) FOIA file, change-of-ownership loans with ProjectState MI. Window stats cover FY2025 to FY2026 Q3, as of June 30, 2026, and refresh with each quarterly cut. Methodology. See an error? Email us and we will correct it.