SBA Loans for Homes for the Elderly in Michigan: Top Lenders
NAICS 623NAICS 623 covers homes for the elderly businesses in Michigan. Based on historical SBA 7(a) lending data.
Total Approvals
24
in Michigan
Median Loan Size
$126,700
per approval
Recent Activity
3
last 90 days through Jul 2025
NAICS 623 covers homes for the elderly businesses. This is a smaller category in SBA 7(a) lending with 24 approvals on record and a median loan size of $126,700.
Key trends & insights
- Homes for the Elderly in Michigan lending is concentrated — THE Huntington National Bank, Choiceone Bank, Live OAK Banking Company together account for 75% of all approvals. If you're in this industry, these are your highest-probability lenders.
- THE Huntington National Bank leads this industry with 8 approvals (33% market share) and a median loan of $33,750.
- Homes for the Elderly in Michigan loans skew smaller than the SBA average at $126,700 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 Homes for the Elderly in Michigan
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 8 | $33,750 | |
| 2 | 6 | $352,500 | |
| 3 | 4 | $225,000 | |
| 4 | 1 | $1,232,400 | |
| 5 | 1 | $14,000 | |
| 6 | 1 | $495,900 | |
| 7 | 1 | $580,000 | |
| 8 | 1 | $108,400 | |
| 9 | 1 | $180,000 |
Recent SBA 7(a) approvals for Homes for the Elderly in Michigan
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-08 | Horizon Bank | Cas*****LLC | CLARE, MI | $1,830,000 |
| 2025-07 | Live Oak Banking Company | Sea*****LLC | LAKE CITY, MI | $100,000 |
| 2025-07 | Live Oak Banking Company | Sea*****LLC | LAKE CITY, MI | $1,200,000 |
| 2025-07 | Live Oak Banking Company | Sea*****LLC | LAKE CITY, MI | $100,000 |
| 2025-03 | ChoiceOne Bank | Blo*****LLC | ROCHESTER HILLS, MI | $900,000 |
| 2025-02 | Live Oak Banking Company | Sil*****nor | LAKE ORION, MI | $350,000 |
| 2025-02 | The Huntington National Bank | MAV*****NC. | PELLSTON, MI | $145,000 |
| 2024-11 | ChoiceOne Bank | Noa*****LLC | PLYMOUTH, MI | $150,000 |
| 2024-11 | ChoiceOne Bank | Noa*****LLC | PLYMOUTH, MI | $801,900 |
| 2024-09 | The Huntington National Bank | RUS*****LLC | FRANKLIN, MI | $25,000 |
| 2024-09 | The Huntington National Bank | NAT*****LLC | FRANKLIN, MI | $500,000 |
| 2024-07 | Celtic Bank Corporation | THE*****LLC | Rochester Hills, MI | $5,000,000 |
| 2024-07 | Team One CU | Ham*****LLC | Auburn, MI | $1,925,000 |
| 2024-07 | First Internet Bank of Indiana | Woo*****ing | FLINT, MI | $450,000 |
| 2024-06 | The Huntington National Bank | STO*****LLC | BELLEVUE, MI | $975,000 |
| 2024-06 | The Huntington National Bank | MAV*****NC. | PELLSTON, MI | $27,500 |
| 2024-04 | The Huntington National Bank | DYN*****LLC | TROY, MI | $40,000 |
| 2024-04 | Eaton Community Bank | Cou*****LLC | Potterville, MI | $580,000 |
| 2024-01 | ChoiceOne Bank | Oak*****LLC | PLYMOUTH, MI | $300,000 |
| 2024-01 | Newtek Bank, National Association | ReB*****LLC | YPSILANTI, MI | $14,000 |
| 2024-01 | ChoiceOne Bank | Oak*****LLC | PLYMOUTH, MI | $2,070,000 |
| 2024-01 | Kellogg Community CU | Hil*****LLC | Battle Creek, MI | $335,300 |
| 2023-12 | The Huntington National Bank | The*****LLC | SAGINAW, MI | $15,000 |
| 2023-12 | The Huntington National Bank | The*****LLC | SAGINAW, MI | $20,000 |
| 2023-10 | Honor CU | But*****LLC | Kalamazoo, MI | $500,000 |
| 2023-10 | ChoiceOne Bank | Cou*****LLC | CHESANING, MI | $525,000 |
| 2023-09 | First Internet Bank of Indiana | PIN*****LLC | CLARKSTON, MI | $1,281,000 |
| 2023-07 | ChoiceOne Bank | Cou*****LLC | CHESANING, MI | $525,000 |
| 2023-05 | The Huntington National Bank | A &*****LLC | Saint Clair, MI | $500,000 |
| 2023-05 | The Huntington National Bank | Kne*****Inc | Saginaw, MI | $132,000 |
| 2023-03 | ChoiceOne Bank | J R****LLC | CLIO, MI | $405,000 |
| 2023-03 | ChoiceOne Bank | J R****LLC | CLIO, MI | $25,000 |
| 2023-03 | ChoiceOne Bank | Wes*****Inc | MONTROSE, MI | $50,000 |
| 2023-02 | ChoiceOne Bank | Wes*****Inc | MONTROSE, MI | $488,700 |
| 2023-01 | Horizon Bank | KC *****ion | PORTLAND, MI | $108,400 |
| 2023-01 | The Huntington National Bank | Mar*****.C. | Wheeler, MI | $150,000 |
| 2022-10 | The Dart Bank | Div*****Inc | Williamston, MI | $495,900 |
| 2022-10 | The Huntington National Bank | Pap*****LLC | Reed City, MI | $50,000 |
| 2022-09 | First Internet Bank of Indiana | Bri*****ion | GRAND RAPIDS, MI | $274,000 |
| 2022-04 | Live Oak Banking Company | Ros*****nc. | ITHACA, MI | $1,325,000 |
| 2022-04 | Sturgis Bank & Trust Company | Ska*****LLC | Bronson, MI | $2,350,000 |
| 2021-11 | The Huntington National Bank | Ate*****LLC | Ann Arbor, MI | $15,000 |
| 2021-10 | Team One CU | Bir*****LLC | Birch Run, MI | $212,500 |
| 2021-09 | ChoiceOne Bank | Bri*****LLC | BLOOMFIELD HILLS, MI | $1,905,400 |
| 2021-08 | ChoiceOne Bank | Bri*****LLC | ROCHESTER HILLS, MI | $1,905,400 |
| 2021-08 | The Huntington National Bank | Cog*****nc. | PLYMOUTH, MI | $35,000 |
| 2021-04 | The Huntington National Bank | Gra*****.C. | ROCHESTER HILLS, MI | $1,888,000 |
| 2021-03 | Newtek Small Business Finance, Inc. | COM*****LLC | SOUTHFIELD, MI | $1,400,000 |
| 2020-11 | The Huntington National Bank | Cor*****LLC | Gobles, MI | $327,500 |
| 2020-09 | The Dart Bank | AVS*****LLC | Okemos, MI | $4,433,500 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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