Local lending data
Who lends to businesses in Ottawa County?
287 SBA 7(a) loans went to businesses in Ottawa County recently, at a median of $121,800. The lenders that made them, ranked, with local rates and startup share.
287 SBA 7(a) loans went to businesses in Ottawa County in the most recent fiscal years, at a median of $121,800. The most active lender was The Huntington National Bank, with 174 loans.
SBA lending in Ottawa 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 | Ottawa County | Michigan | National |
|---|---|---|---|
| Loans approved | 287 | 7,937 | 214,102 |
| Median loan | $121,800 | $130,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $346,500 | $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 | 25.1% | 29.3% | 33.6% |
| Charge-off rate, FY2010-19 | 3.3% | 5.2% | 7.1% |
| Jobs supported | 2,670 | 72,203 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Ottawa 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 | 174 | $72,000 | 22% | 10.25% |
| Fifth Third Bank | 15 | $300,000 | 33% | 8.75% |
| Old National Bank | 9 | $372,100 | 33% | 7.75% |
| ChoiceOne Bank | 7 | $612,100 | 14% | 8.25% |
| Independent Bank | 7 | $300,000 | 29% | 9.50% |
| United Midwest Savings Bank | 6 | $150,000 | 100% | 10.25% |
| Readycap Lending, LLC | 5 | $150,000 | 0% | 11.25% |
| BayFirst National Bank | 4 | $150,000 | 0% | 10.62% |
| Lake Michigan CU | 4 | $1,654,250 | 50% | 9.88% |
| Grand River Bank | 4 | $187,500 | 0% | 8.10% |
What stands out here
Reading these figures against the national picture:
- Loans here run smaller than average. The median of $121,800 is 19% 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 25% 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 69%. 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 3.3% is below the 7.1% overall figure, which is part of why lenders compete for it.
Who borrows in Ottawa County
The mix of industries taking SBA loans here, led by construction.
| Sector | Loans | Share |
|---|---|---|
| Construction | 57 | 19.9% |
| Restaurants and Hotels | 31 | 10.8% |
| Healthcare | 26 | 9.1% |
| Retail | 24 | 8.4% |
| Professional Services | 23 | 8.0% |
| Personal Services | 22 | 7.7% |
| Manufacturing | 22 | 7.7% |
| Trucking | 19 | 6.6% |
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, Washtenaw County, Ingham County, Livingston County