SBA lending data · fiscal year 2025
14 lenders funded insurance agencies and brokerages in Michigan last year
18 SBA 7(a) loans approved under NAICS 524210. Median approval $215,550, median term 120 months, median initial rate 10%.
What was actually approved
Half of all approvals in this industry and state fell between $50,000 and $257,425. 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 Bank4 loans · $0.3M
- 2Readycap Lending, LLC2 loans · $0.3M
- 3Fifth Third Bank1 loan · $0.1M
- 4First State Bank1 loan · $0.3M
- 5CASE CU1 loan · $0.4M
- 61st State Bank1 loan · $0.2M
- 7Highpoint Community Bank1 loan · $0.3M
- 8Independent Bank1 loan · $2.5M
- 9The Stephenson National Bank and Trust1 loan · $0.9M
- 10KeyBank National Association1 loan · $0M
- 11Northeast Bank1 loan · $0.1M
- 12Newtek Bank, National Association1 loan · $0.3M
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 | 25 | 11 | $100,000 |
| FY2024 | 36 | 18 | $119,400 |
| FY2025 | 18 | 14 | $215,550 |
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
Insurance Agencies and Brokerages in other states
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