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.
- SBA data for this industry goes through 2025-02-28 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
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 |
|---|---|---|---|---|
| 2025-11 | The Huntington National Bank | Ram*****LLC | ROYAL OAK, MI | $120,000 |
| 2025-11 | The Huntington National Bank | PRY*****LLC | Rochester Hills, MI | $101,500 |
| 2025-09 | The Huntington National Bank | SBG*****LLC | CALEDONIA, MI | $239,300 |
| 2025-07 | Eaton Community Bank | The*****Inc | SPRINGPORT, MI | $206,100 |
| 2025-04 | Northeast Bank | Jas*****ein | Three Rivers, MI | $50,000 |
| 2025-04 | Newtek Bank, National Association | Exe*****LLC | Brighton, MI | $250,000 |
| 2025-03 | The Stephenson National Bank and Trust | Mat*****Inc | Stephenson, MI | $880,000 |
| 2025-03 | The Huntington National Bank | The*****LLC | FARMINGTON, MI | $50,000 |
| 2025-03 | The Huntington National Bank | The*****LLC | FARMINGTON, MI | $65,600 |
| 2025-02 | Independent Bank | Zer*****nc. | SOUTHFIELD, MI | $2,500,000 |
| 2025-02 | Highpoint Community Bank | Sco*****LLC | Hudsonville, MI | $258,400 |
| 2025-01 | 1st State Bank | Goh*****nc. | SAGINAW, MI | $150,000 |
| 2025-01 | Readycap Lending, LLC | Jas*****ein | PORTAGE, MI | $50,000 |
| 2025-01 | Comerica Bank | Was*****LLC | NOVI, MI | $500,000 |
| 2024-12 | The Huntington National Bank | Gog*****LLC | GRAND RAPIDS, MI | $19,000 |
| 2024-10 | Comerica Bank | Lem*****LLC | PORTAGE, MI | $100,000 |
| 2024-10 | The Huntington National Bank | EXE*****LLC | BRIGHTON, MI | $50,000 |
| 2024-09 | Northeast Bank | THE*****NC. | Troy, MI | $60,000 |
| 2024-08 | 1st Source Bank | Wri*****LLC | KALAMAZOO, MI | $75,000 |
| 2024-08 | The Huntington National Bank | Mit*****LLC | GRAND RAPIDS, MI | $144,000 |
| 2024-07 | Hiawatha National Bank | Nov*****LLC | Escanaba, MI | $118,800 |
| 2024-07 | Fifth Third Bank | Pat*****LLC | LOWELL, MI | $340,000 |
| 2024-06 | The Huntington National Bank | KOL*****LLC | BAY CITY, MI | $40,000 |
| 2024-05 | The Huntington National Bank | Uni*****Inc | CHESTERFIELD, MI | $46,000 |
| 2024-04 | Team One CU | Bir*****nc. | Flint, MI | $168,300 |
| 2024-03 | U.S. Bank, National Association | S &*****LLC | FARMINGTON HILLS, MI | $397,800 |
| 2024-03 | First Bank of Central Ohio | Uzz*****LLC | Clarkston, MI | $653,500 |
| 2024-03 | Live Oak Banking Company | GRA*****LLC | GRAND RAPIDS, MI | $1,457,000 |
| 2024-02 | The Huntington National Bank | PUB****LLC | CLIO, MI | $200,000 |
| 2024-02 | United Midwest Savings Bank National Association | The*****.C. | Plymouth, MI | $1,739,000 |
| 2024-02 | CDC Small Business Finance Corp. | The*****nc. | Redford, MI | $50,000 |
| 2024-01 | U.S. Bank, National Association | TEL*****LLC | WATERFORD, MI | $329,000 |
| 2024-01 | Bank of America, National Association | Tho*****ncy | FARMINGTON HILLS, MI | $121,500 |
| 2024-01 | The Huntington National Bank | Mik*****nc. | WHITE LAKE, MI | $120,000 |
| 2024-01 | The Huntington National Bank | COR*****LLC | FREMONT, MI | $72,000 |
| 2024-01 | The Huntington National Bank | MAR*****INC | ROYAL OAK, MI | $15,000 |
| 2024-01 | The Huntington National Bank | MAP*****LLC | WARREN, MI | $23,000 |
| 2023-12 | Horizon Bank | WJM*****Inc | Clare, MI | $852,400 |
| 2023-12 | Horizon Bank | WJM*****Inc | Clare, MI | $25,000 |
| 2023-12 | The Huntington National Bank | O.P*****.C. | FERNDALE, MI | $80,000 |
| 2023-11 | The Huntington National Bank | Spe*****LLC | HOLLAND, MI | $100,000 |
| 2023-11 | KeyBank National Association | JMB*****LLC | Ada, MI | $20,000 |
| 2023-09 | U.S. Bank, National Association | TMJ*****LLC | SOUTHFIELD, MI | $344,200 |
| 2023-09 | The Huntington National Bank | Ari*****LLC | OKEMOS, MI | $30,000 |
| 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 |
| 2023-06 | Live Oak Banking Company | The*****LLC | METAMORA, MI | $350,000 |
| 2023-06 | Mechanics and Farmers Bank | Mah*****nc. | Troy, MI | $1,605,000 |
| 2023-05 | Live Oak Banking Company | The*****LLC | METAMORA, MI | $350,000 |
| 2023-05 | The Huntington National Bank | Cat*****nc. | Detroit, MI | $67,100 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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