Independent Bank approved 121 SBA loans worth $96.3M between October 2021 and June 2026, ranking #310 of 2,283 SBA lenders nationally by loan count. Its median loan was $350,000, and 32% went to startups or businesses under two years old. It lent in 3 states, most often in Michigan, and its most financed industry was retail.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Michigan | 117 | $84.8M | $350,000 | #15 |
| Illinois | 3 | $9.6M | $4,492,000 | #168 |
| Oklahoma | 1 | $1.9M | $1,889,000 | #175 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Retail | 21 | $250,000 | |
| Construction | 19 | $350,000 | |
| Manufacturing | 15 | $492,000 | |
| Professional and technical services | 15 | $783,000 | |
| Restaurants and hotels | 9 | $235,000 | |
| Wholesale trade | 7 | $500,000 | |
| Education | 6 | $329,500 | |
| Other services (repair, personal care) | 6 | $200,000 | |
| Health care and social assistance | 6 | $278,500 | |
| Administrative and support services | 5 | $250,000 |