Lake Michigan CU approved 179 SBA loans worth $160.3M between October 2021 and June 2026, ranking #240 of 2,283 SBA lenders nationally by loan count. Its median loan was $489,900, and 37% went to startups or businesses under two years old. It lent in 5 states, most often in Florida, and its most financed industry was restaurants and hotels.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Florida | 127 | $104.5M | $492,300 | #35 |
| Michigan | 49 | $48.5M | $450,000 | #30 |
| Georgia | 1 | $1.3M | $1,320,800 | #231 |
| New York | 1 | $5.0M | $5,000,000 | #220 |
| Ohio | 1 | $1.0M | $1,044,000 | #241 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Restaurants and hotels | 28 | $454,500 | |
| Construction | 22 | $320,000 | |
| Professional and technical services | 20 | $381,750 | |
| Wholesale trade | 17 | $998,000 | |
| Retail | 16 | $693,800 | |
| Other services (repair, personal care) | 15 | $314,500 | |
| Administrative and support services | 14 | $491,100 | |
| Manufacturing | 14 | $1,109,950 | |
| Health care and social assistance | 12 | $553,750 | |
| Arts, entertainment and recreation | 9 | $450,000 |