SBA Loans for Insurance Agencies and Brokerages in Michigan: Top Lenders
NAICS 524NAICS 524 covers insurance agencies and brokerages businesses in Michigan. Based on historical SBA 7(a) lending data.
Total Approvals
25
in Michigan
Median Loan Size
$140,000
per approval
Recent Activity
0
last 90 days through Feb 2025
NAICS 524 covers insurance agencies and brokerages businesses. This is a smaller category in SBA 7(a) lending with 25 approvals on record and a median loan size of $140,000.
Key trends & insights
- Insurance Agencies and Brokerages in Michigan lending is concentrated — THE Huntington National Bank, Choiceone Bank, Comerica Bank together account for 60% of all approvals. If you're in this industry, these are your highest-probability lenders.
- THE Huntington National Bank leads this industry with 10 approvals (40% market share) and a median loan of $87,500.
- Insurance Agencies and Brokerages in Michigan loans skew smaller than the SBA average at $140,000 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
Most active SBA lenders for Insurance Agencies and Brokerages in Michigan
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 10 | $87,500 | |
| 2 | 3 | $250,000 | |
| 3 | 2 | $1,074,750 | |
| 4 | 2 | $2,595,000 | |
| 5 | 1 | $30,000 | |
| 6 | 1 | $100,000 | |
| 7 | 1 | $2,500,000 | |
| 8 | 1 | $50,000 | |
| 9 | 1 | $3,013,000 | |
| 10 | 1 | $250,000 | |
| 11 | 1 | $124,200 | |
| 12 | 1 | $216,000 |
Recent SBA 7(a) approvals for Insurance Agencies and Brokerages in Michigan
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-02 | Independent Bank | Zer*****nc. | SOUTHFIELD, MI | $2,500,000 |
| 2024-08 | The Huntington National Bank | Mit*****LLC | GRAND RAPIDS, MI | $144,000 |
| 2024-02 | The Huntington National Bank | PUB****LLC | CLIO, MI | $200,000 |
| 2023-11 | The Huntington National Bank | Spe*****LLC | HOLLAND, MI | $100,000 |
| 2023-08 | Superior National Bank | eFu*****LLC | SOUTHFIELD, MI | $250,000 |
| 2023-06 | Live Oak Banking Company | CWC*****nc. | GRAND LEDGE, MI | $2,115,000 |
| 2023-04 | Comerica Bank | Ame*****nc. | WARREN, MI | $13,500 |
| 2023-03 | Live Oak Banking Company | Age*****ces | PORTAGE, MI | $3,075,000 |
| 2023-02 | Community Choice CU | Ani*****Inc | WESTLAND, MI | $50,000 |
| 2023-01 | ChoiceOne Bank | Wil*****nc. | OAKLAND, MI | $250,000 |
| 2022-12 | Comerica Bank | Den*****Inc | DETROIT, MI | $2,136,000 |
| 2022-11 | County National Bank | CTA*****LLC | JONESVILLE, MI | $216,000 |
| 2022-08 | Cadence Bank | U. *****LLC | IRONWOOD, MI | $100,000 |
| 2022-08 | The Huntington National Bank | Des*****nc. | Grand Rapids, MI | $50,000 |
| 2022-08 | The Huntington National Bank | Des*****nc. | Grand Rapids, MI | $730,300 |
| 2022-08 | The Huntington National Bank | EFU*****LLC | SOUTHFIELD, MI | $140,000 |
| 2022-08 | PNC Bank, National Association | MAR*****LLC | NEW BOSTON, MI | $124,200 |
| 2022-06 | Mechanics and Farmers Bank | Sai*****nc. | Lake Orion, MI | $3,013,000 |
| 2022-05 | The Huntington National Bank | COA*****LLC | JENISON, MI | $10,000 |
| 2022-02 | Newtek Small Business Finance, Inc. | ISL*****AII | DETROIT, MI | $78,800 |
| 2022-01 | U.S. Bank, National Association | JOR*****INC | ROYAL OAK, MI | $30,000 |
| 2021-05 | The Huntington National Bank | Lyn*****ncy | BLOOMFIELD HILLS, MI | $75,000 |
| 2020-08 | The Huntington National Bank | Tod*****nc. | Northville, MI | $50,000 |
| 2020-08 | The Huntington National Bank | Tod*****nc. | Northville, MI | $35,800 |
| 2020-08 | ChoiceOne Bank | Ron*****III | SAGINAW, MI | $50,000 |
| 2020-02 | ChoiceOne Bank | Tit*****nc. | LIVONIA, MI | $800,000 |
| 2020-02 | The Huntington National Bank | Ste*****any | Farmington Hills, MI | $27,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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