Access the Top SBA Lending for Michigan Small Business
Michigan State, celebrated for its automotive heritage and diverse economy, offers a fertile ground for small business success. From the vibrant streets of Detroit to the charming communities of Ann Arbor, entrepreneurs encounter numerous avenues for growth and prosperity. With access to premier SBA lending programs, Michigan small businesses can obtain essential financial support to fuel their innovation and development.
Michigan
The Great Lakes State
908,007 small businesses
1,900,000 small business employees
Source: US SBA Office of Advocacy - 2023 Report
Up to $500K Available
8.5% as of 2/2024 | 2 weeks to fund
If you are a small business owner considering an SBA loan, we suggest doing one of two things:

See if you qualify by taking 3 minutes to fill out the Application here.

This is the fastest way to get answers about an SBA loan. It will provide us with everything needed to get an approval.
Apply
Get Rates
SBA Loan
Start Application

Calculate your estimated monthly payment with the FastWaySBA® Calculator

Get a sense of what kind of monthly payment and rate you would experience with different amounts.
Calculate Payment
Learn More
SBA Loan
Go to Calculator
Business Dynamic of Michigan
Between March 2021 and March 2022, 29,561 Michigan establishments opened and 20,402 closed, for a net increase of 9,159. Employment expanded at 61,820 establishments and contracted at 42,581. Small businesses accounted for 28,740 openings and 19,496 closings.
Establishments in Michigan
Employment in Michigan
Between March 2021 and March 2022, 29,561 Michigan establishments opened and 20,402 closed, for a net increase of 9,159. Employment expanded at 61,820 establishments and contracted at 42,581. Small businesses accounted for 28,740 openings and 19,496 closings.
Source: Business Employment Dynamics (BLS)
Recent News and Successful Deals in Michigan
Small Business Loans in Michigan
The Community Reinvestment Act requires large banks to report new small business loans. In 2021, reporting banks issued $2.7 billion in loans to Michigan businesses with revenues of $1 million or less. Total reported new lending to businesses through loans of $100,000 or less was $2.8 billion. Total reported new lending to businesses through loans of $1 million or less was $9.7 billion.
New lending to businesses with revenues under $1 million
Source: CRA Aggregate Data (FFIEC)
Industries and Employment of Michigan's Small Businesses
Source: Business Employment Dynamics (BLS)
Business Ownership Share by Demographic in Michigan
Business Count by Demographic in Michigan
Total Michigan Employement by Business Size
Small Business Employment and Payroll by Industry in Michigan
Source: Business Employment Dynamics (BLS)