About Michigan District Office
The goal of the Michigan District Office is to create an environment within Michigan where small business can grow and prosper. We do this by providing:
Free business counseling through the Michigan Small Business and Technology Development Centers, SCORE, Women Business Centers, and U.S. Export Assistance Centers.
Government contracting assistance
Loan guaranty programs (SBA does not provide grants to individuals to start businesses).
In fiscal 2012, SBA guaranteed 1,742 loans to Michigan small businesses through the 7(a) loan guaranty program for a total of $547.4 million. The Michigan District was the number two 7(a) lender in fiscal 2012 and second in the nation for all SBA loans.
Under our 504 program, we approved 333 loans for $176.6 million. This was an increase of 39% in numbers and 62% in dollars from fiscal 2011 for 504 loans. Over the past seven years SBA has provided guaranties on 16,247 loans worth more than $3.78 billion.
For fiscal 2013, SBA guaranteed 1,831 loans to Michigan small businesses through the 7(a) loan guaranty program for a total of for $573 million. This is an increase of 5% over fiscal 2012. The Michigan District finished second in in the nation for both 7(a) loans and all SBA loans. Under our 504 program, we approved 259 loans for $143.6 million, a 22% decrease from 2012 in numbers.