# Buying a Business in Michigan: SBA Lending

Change-of-ownership SBA 7(a) approvals in Michigan, FY2020 through FY2025. Every figure is read from SBA 7(a) FOIA loan-level dataset (as of June 30, 2026).

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Also on this site: https://searchspheresource.com/data/acquisition-lending
Source: https://searchspheresource.com/data/acquisition-lending/michigan
Last checked: 2026-10-02

## The Numbers

- Loans since FY2020: 1,177, $1,223,316,000 approved in total
- FY2025 loans: 270, $248,648,700 approved
- Median loan: $635,000
- Share of national acquisition lending: 3.3%

## The Most Active Lenders in Michigan

Ranked by change-of-ownership loans written in the covered years. A bank high here is a bank that has already said yes to this kind of deal in this state.

1. The Huntington National Bank: 251 loans
2. Live Oak Banking Company: 113 loans
3. Old National Bank: 62 loans
4. Fifth Third Bank: 52 loans
5. ChoiceOne Bank: 34 loans

## What Gets Financed in Michigan

- Beer, Wine, and Liquor Retailers: 71 loans
- Limited-Service Restaurants: 66 loans
- Full-Service Restaurants: 60 loans
- Hotels (except Casino Hotels) and Motels: 49 loans
- Plumbing, Heating, and Air-Conditioning Contractors: 31 loans

## Method and Source

- SBA 7(a) FOIA loan-level dataset (as of June 30, 2026): https://data.sba.gov/dataset/7a-504-foia
- Coverage: FY2020 through FY2025
- Segment: SBA 7(a) approvals with BusinessAge "Change of Ownership"

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