Local lending data
Who lends to businesses in Allegan County?
106 SBA 7(a) loans went to businesses in Allegan County recently, at a median of $100,000. The lenders that made them, ranked, with local rates and startup share.
106 SBA 7(a) loans went to businesses in Allegan County in the most recent fiscal years, at a median of $100,000. The most active lender was The Huntington National Bank, with 65 loans.
SBA lending in Allegan County, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans that were actually approved to businesses in this county, not advertised ranges.
| Measure | Allegan County | Michigan | National |
|---|---|---|---|
| Loans approved | 106 | 7,937 | 214,102 |
| Median loan | $100,000 | $130,000 | $150,000 |
| 25th - 75th percentile | $42,875 - $266,875 | $50,000 - $350,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 10.00% | 10.00% | 10.25% |
| Share to startups | 21.7% | 29.3% | 33.6% |
| Charge-off rate, FY2010-19 | 4.1% | 5.2% | 7.1% |
| Jobs supported | 627 | 72,203 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Allegan County. The median, startup share and rate columns describe each lender's own loans in this county, not its national averages.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 65 | $50,000 | 14% | 10.45% |
| Horizon Bank | 5 | $317,500 | 20% | 8.50% |
| BayFirst National Bank | 4 | $150,000 | 25% | 12.12% |
| ChoiceOne Bank | 3 | $906,500 | 0% | 10.00% |
| Independent Bank | 3 | $500,000 | 0% | 8.50% |
| Highpoint Community Bank | 2 | $513,900 | 50% | 9.47% |
| United Midwest Savings Bank | 2 | $277,500 | 50% | 10.75% |
| Bank Michigan | 2 | $1,100,000 | 0% | 10.00% |
| JPMorgan Chase Bank | 2 | $125,000 | 0% | 12.15% |
| Southern Michigan Bank & Trust | 2 | $1,765,350 | 100% | 7.00% |
What stands out here
Reading these figures against the national picture:
- Loans here run smaller than average. The median of $100,000 is 33% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- This is a hard market for new businesses. Only 22% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- One lender dominates. The Huntington National Bank alone made 61% of these loans, and the top three made 70%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- This market has performed well. Its FY2010-2019 charge-off rate of 4.1% is below the 7.1% overall figure, which is part of why lenders compete for it.
Who borrows in Allegan County
The mix of industries taking SBA loans here, led by construction.
| Sector | Loans | Share |
|---|---|---|
| Construction | 34 | 32.1% |
| Restaurants and Hotels | 15 | 14.2% |
| Personal Services | 13 | 12.3% |
| Admin Services | 9 | 8.5% |
| Retail | 9 | 8.5% |
| Professional Services | 8 | 7.5% |
| Trucking | 6 | 5.7% |
| Manufacturing | 5 | 4.7% |
How to use this
- Shortlist three lenders from the table whose median loan in this county is close to what you need. Size match matters more than brand.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year — see choosing an SBA lender.
- Check your coverage first with the affordability calculator, so you ask for a number your cash flow supports.
- Follow your sector link in the table above for lender data specific to your industry across Michigan.
Other counties in Michigan
- Nearby markets with published data: Oakland County, Wayne County, Kent County, Macomb County, Genesee County, Ottawa County, Washtenaw County, Ingham County