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SBA Loans for Pharmacies and Drug Stores in Michigan: Top Lenders

NAICS 446

NAICS 446 covers pharmacies and drug stores businesses in Michigan. Based on historical SBA 7(a) lending data.

Total Approvals

7

in Michigan

Median Loan Size

$150,000

per approval

Recent Activity

0

last 90 days through Jun 2021

NAICS 446 covers pharmacies and drug stores businesses. This is a smaller category in SBA 7(a) lending with 7 approvals on record and a median loan size of $150,000.

Key trends & insights

  • Pharmacies and Drug Stores in Michigan lending is concentrated — Live OAK Banking Company, THE Huntington National Bank, PNC Bank, National Association together account for 86% of all approvals. If you're in this industry, these are your highest-probability lenders.
  • Live OAK Banking Company leads this industry with 3 approvals (43% market share) and a median loan of $1,150,000.
  • Pharmacies and Drug Stores in Michigan loans skew smaller than the SBA average at $150,000 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
  • SBA data for this industry goes through 2021-06-23 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.

Most active SBA lenders for Pharmacies and Drug Stores in Michigan

#LenderApprovalsMedian Size
1
Live OAK Banking Company
3$1,150,000
2
THE Huntington National Bank
2$85,000
3
PNC Bank, National Association
1$50,000
4
United Midwest Savings Bank, National Association
1$150,000

Recent SBA 7(a) approvals for Pharmacies and Drug Stores in Michigan

MonthLenderBorrowerAmount
2023-02BayFirst National BankFai*****nc.$150,000
2022-12JPMorgan Chase Bank, National AssociationTWE*****LLC$100,000
2022-03Live Oak Banking CompanyFar*****LLC$2,905,000
2022-01The Huntington National BankFox*****TD.$150,000
2021-10University BankVap****LLC$315,000
2021-09Newtek Small Business Finance, Inc.Blo*****LLC$260,000
2021-08Live Oak Banking CompanyTEM*****LLC$1,440,000
2021-07The Huntington National BankAda*****LLC$475,000
2021-07The Huntington National BankAda*****LLC$25,000
2021-07Hinsdale Bank & Trust Company, National AssociationAnd*****LC.$3,900,000
2021-07Hinsdale Bank & Trust Company, National AssociationAnd*****LC.$600,000
2021-06Live Oak Banking CompanyPha*****ugs$865,000
2021-03Live Oak Banking CompanyHH *****LLC$1,150,000
2021-02United Midwest Savings Bank National AssociationSOM*****LLC$150,000
2021-02ChoiceOne BankVil*****LLC$100,000
2021-02ChoiceOne BankVil*****LLC$703,000
2020-10Citizens Bank, National AssociationLEE*****NC.$300,000
2020-10Citizens Bank, National AssociationLEE*****NC.$1,022,000
2020-10The Huntington National BankALK*****INC$350,000
2020-09Live Oak Banking CompanySWA*****LLC$2,150,000
2020-09The Huntington National BankLe'*****nc.$203,100
2020-09Live Oak Banking CompanyRay*****ugs$1,265,000
2020-08Live Oak Banking CompanyFar*****LLC$1,550,000
2020-07Live Oak Banking CompanyLib*****ugs$1,720,000
2020-07Live Oak Banking CompanyPio*****LLC$2,315,000
2020-07Live Oak Banking CompanyPio*****LLC$2,315,000
2020-06The Huntington National BankRY***LLC$45,500
2020-04The Huntington National BankSpe*****LLC$10,000
2020-04The Huntington National BankSpe*****LLC$141,900
2020-03Comerica BankPha*****LLC$100,000
2020-03The Huntington National BankXR***NC.$50,000
2020-02PNC Bank, National AssociationMo *****nc.$50,000
2019-11The Huntington National BankSte*****ann$30,000
2019-11The Huntington National BankPre*****LLC$140,000
2019-10KeyBank National AssociationSpe*****LLC$120,000

Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.

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