SBA lending data · fiscal year 2025
14 lenders funded child care services in Michigan last year
21 SBA 7(a) loans approved under NAICS 624410. Median approval $240,000, median term 120 months, median initial rate 9.75%.
What was actually approved
Half of all approvals in this industry and state fell between $75,000 and $813,000. A request well outside that band is not impossible — it draws more scrutiny on collateral and management experience.
The most active lenders
Ranked by how many loans each actually approved in this industry and state — not by advertising spend. A lender that has written twenty of these already knows the questions to ask.
- 1The Huntington National Bank6 loans · $0.5M
- 2ChoiceOne Bank2 loans · $4.5M
- 3Live Oak Banking Company2 loans · $2.4M
- 4Readycap Lending, LLC1 loan · $0.1M
- 5Northeast Bank1 loan · $0.1M
- 6Celtic Bank Corporation1 loan · $0.2M
- 7Northern Great Lakes Initiatives1 loan · $0.1M
- 8PNC Bank, National Association1 loan · $0.7M
- 9Bank of America, National Association1 loan · $0.9M
- 10Paragon Bank1 loan · $1.1M
- 11JPMorgan Chase Bank, National Association1 loan · $0.5M
- 12Byline Bank1 loan · $0.6M
This list is not a recommendation and these lenders have no relationship with this site. It reports approvals recorded in U.S. Small Business Administration, FOIA 7(a) and 504 loan approval data (data.sba.gov), fiscal year 2025, as of 2026-06-30.
Is this industry getting easier or harder to finance?
| Fiscal year | Loans | Lenders | Median approval |
|---|---|---|---|
| FY2023 | 21 | 10 | $150,000 |
| FY2024 | 28 | 13 | $125,000 |
| FY2025 | 21 | 14 | $240,000 |
Only completed fiscal years are shown. The SBA fiscal year ends 30 September; a partial year compared against full ones makes any industry look like it is closing.
Where this comes from
The SBA publishes every approved 7(a) and 504 loan under FOIA: the lender, the borrower's state, the industry code, the amount, the term and the initial rate. We indexed 4 fiscal years of it, alongside Census and BLS data. Figures on this page are as published on 2026-06-30.
This page reports approvals. It says nothing about how many applications were declined, and it is not a prediction about yours. This site is not affiliated with, endorsed by, or approved by the U.S. Small Business Administration.
Other industries in Michigan
- Full-Service Restaurants · 127 loans
- Limited-Service Restaurants · 93 loans
- Residential Remodelers · 78 loans
- General Freight Trucking, Local · 77 loans
- All Other Specialty Trade Contractors · 71 loans
- Landscaping Services · 69 loans
- Plumbing, Heating, and Air-Conditioning Contractors · 60 loans
- Beer, Wine, and Liquor Retailers · 50 loans
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