SBA Loans for Electrical Contractors in Michigan: Top Lenders
NAICS 238NAICS 238 covers electrical contractors businesses in Michigan. Based on historical SBA 7(a) lending data.
Total Approvals
274
in Michigan
Median Loan Size
$100,000
per approval
Recent Activity
9
last 90 days through Aug 2025
NAICS 238 covers electrical contractors businesses. This is a moderately active sector for SBA 7(a) lending with 274 approvals and a median loan size of $100,000.
Key trends & insights
- Electrical Contractors in Michigan lending is concentrated — THE Huntington National Bank, Comerica Bank, Choiceone Bank together account for 78% of all approvals. If you're in this industry, these are your highest-probability lenders.
- THE Huntington National Bank leads this industry with 174 approvals (69% market share) and a median loan of $85,000.
- Electrical Contractors in Michigan loans skew smaller than the SBA average at $100,000 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 Electrical Contractors in Michigan
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 174 | $85,000 | |
| 2 | 13 | $160,000 | |
| 3 | 11 | $250,000 | |
| 4 | 6 | $200,000 | |
| 5 | 5 | $40,000 | |
| 6 | 4 | $364,150 | |
| 7 | 4 | $125,000 | |
| 8 | 4 | $825,000 | |
| 9 | 4 | $221,750 | |
| 10 | 3 | $200,000 | |
| 11 | 3 | $200,000 | |
| 12 | 3 | $150,000 | |
| 13 | 3 | $250,000 | |
| 14 | 3 | $50,000 | |
| 15 | 3 | $415,000 | |
| 16 | 3 | $150,000 | |
| 17 | 2 | $502,500 | |
| 18 | 2 | $255,000 | |
| 19 | 2 | $300,650 | |
| 20 | 1 | $215,000 |
Recent SBA 7(a) approvals for Electrical Contractors in Michigan
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-08 | United Midwest Savings Bank National Association | LIZ*****ITY | Cadillac, MI | $150,000 |
| 2025-08 | The Huntington National Bank | Ele*****LLC | MACOMB, MI | $50,000 |
| 2025-08 | The Huntington National Bank | Ele*****LLC | MACOMB, MI | $250,500 |
| 2025-08 | Horizon Bank | Lin*****nc. | BENTON HARBOR, MI | $200,000 |
| 2025-08 | The Huntington National Bank | SLS*****LLC | CLARE, MI | $50,000 |
| 2025-08 | Readycap Lending, LLC | Dir*****LLC | FREMONT, MI | $50,000 |
| 2025-08 | KeyBank National Association | A A*****LLC | Dearborn Heights, MI | $15,000 |
| 2025-06 | First Merchants Bank | Apa*****nc. | STERLING HEIGHTS, MI | $50,000 |
| 2025-06 | The Huntington National Bank | INN*****LLC | HUDSONVILLE, MI | $100,000 |
| 2025-05 | ChoiceOne Bank | PLA*****INC | FLINT, MI | $400,000 |
| 2025-05 | The Huntington National Bank | TER*****INC | CLINTON TOWNSHIP, MI | $108,000 |
| 2025-05 | Michigan State University Federal Credit Union | Gre*****.C. | Mancelona, MI | $132,000 |
| 2025-05 | Newtek Bank, National Association | T&M*****LLC | Detroit, MI | $250,000 |
| 2025-04 | The Huntington National Bank | J R*****Inc | HOLLAND, MI | $250,000 |
| 2025-04 | The Huntington National Bank | MIO*****LLC | MIO, MI | $50,000 |
| 2025-03 | Frankenmuth Credit Union | She*****LLC | PIGEON, MI | $75,000 |
| 2025-03 | The Huntington National Bank | RGS*****nc. | NEW BALTIMORE, MI | $200,000 |
| 2025-03 | The Huntington National Bank | DET*****LLC | DETROIT, MI | $100,000 |
| 2025-03 | Omni Community Credit Union | Rol*****rns | Lawrence, MI | $145,000 |
| 2025-03 | The Huntington National Bank | Sup*****LLC | ROSCOMMON, MI | $41,000 |
| 2025-03 | The Huntington National Bank | Pay*****LLC | ELMIRA, MI | $50,000 |
| 2025-03 | The Huntington National Bank | Sup*****LLC | ROSCOMMON, MI | $71,300 |
| 2025-03 | The Huntington National Bank | Pay*****LLC | ELMIRA, MI | $50,000 |
| 2025-02 | The Huntington National Bank | S. *****LLC | HUDSONVILLE, MI | $200,000 |
| 2025-02 | The Huntington National Bank | CON*****CO. | DETROIT, MI | $150,000 |
| 2025-02 | Magnifi Financial CU | YAR*****TED | ANN ARBOR, MI | $444,000 |
| 2025-02 | JPMorgan Chase Bank, National Association | 108*****LLC | GRAND RAPIDS, MI | $1,955,000 |
| 2025-02 | Horizon Bank | Gam*****LLC | BARODA, MI | $30,000 |
| 2025-02 | Northeast Bank | NYL*****INC | Lansing, MI | $250,000 |
| 2025-02 | Readycap Lending, LLC | End*****ing | Kalamazoo, MI | $500,000 |
| 2025-02 | The Huntington National Bank | FUL*****INC | SHERIDAN, MI | $100,000 |
| 2025-02 | Citizens Bank, National Association | VIV*****NC. | STERLING HEIGHTS, MI | $650,000 |
| 2025-02 | Citizens Bank, National Association | VIV*****NC. | STERLING HEIGHTS, MI | $350,000 |
| 2025-01 | The Huntington National Bank | HOM*****LLC | SAINT JOHNS, MI | $200,000 |
| 2025-01 | Newtek Bank, National Association | Cus*****LLC | Fenton, MI | $100,000 |
| 2025-01 | Northeast Bank | CON*****TED | Macomb TWP, MI | $100,000 |
| 2025-01 | United Midwest Savings Bank National Association | KMW*****ELD | Wolverine Lake, MI | $275,000 |
| 2025-01 | Comerica Bank | DJ****LLC | MARINE CITY, MI | $733,000 |
| 2025-01 | Comerica Bank | DJ****LLC | MARINE CITY, MI | $200,000 |
| 2024-12 | The Huntington National Bank | All*****Inc | CLINTON TOWNSHIP, MI | $300,000 |
| 2024-12 | Citizens Bank | Moz*****orp | MOUNT PLEASANT, MI | $359,800 |
| 2024-12 | Horizon Bank | ZJ *****LLC | Casco, MI | $1,200,000 |
| 2024-11 | Christian Financial CU | Bri*****LLC | Sterling Heights, MI | $160,000 |
| 2024-11 | Independent Bank | Pre*****LLC | INTERLOCHEN, MI | $135,000 |
| 2024-11 | The Huntington National Bank | Qua*****LLC | BELLEVILLE, MI | $100,000 |
| 2024-11 | Comerica Bank | Oro*****LLC | FARMINGTON HILLS, MI | $250,000 |
| 2024-11 | Comerica Bank | ROM*****INC | WARREN, MI | $269,000 |
| 2024-11 | The Huntington National Bank | SEL*****.C. | BELDING, MI | $25,000 |
| 2024-11 | The Huntington National Bank | SEL*****.C. | BELDING, MI | $20,000 |
| 2024-11 | Citizens Bank | MI *****LLC | PLYMOUTH, MI | $241,500 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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