SBA Loans for Data Processing in Michigan: Top Lenders
NAICS 518NAICS 518 covers data processing, hosting, and related services businesses in Michigan. Based on historical SBA 7(a) lending data.
Total Approvals
5
in Michigan
Median Loan Size
$150,000
per approval
Recent Activity
0
last 90 days through Aug 2024
NAICS 518 covers data processing, hosting, and related services businesses. This is a smaller category in SBA 7(a) lending with 5 approvals on record and a median loan size of $150,000.
Key trends & insights
- Data Processing 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 2024-08-27 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Data Processing in Michigan
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 3 | $90,000 | |
| 2 | 2 | $1,855,000 |
Recent SBA 7(a) approvals for Data Processing in Michigan
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-08 | The Huntington National Bank | DIG*****LLC | DEARBORN, MI | $90,000 |
| 2023-04 | The Huntington National Bank | Mee*****LLC | Traverse City, MI | $150,000 |
| 2021-12 | Live Oak Banking Company | Nat*****LLC | WARREN, MI | $3,525,000 |
| 2021-12 | Live Oak Banking Company | Nat*****LLC | WARREN, MI | $185,000 |
| 2021-04 | The Huntington National Bank | BID*****LLC | Gaylord, MI | $55,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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