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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 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).
For fiscal year 2015, Michigan set a record for SBA loans with 2,485 7(a) loans totaling $663 million dollars. This is the largest loan volume the Michigan District has ever had, and put Michigan as the second largest producer in the country. 504 loan volume was 165 loans, but the dollar amount stayed steady at $87 million. In total, SBA supported three-quarters of a billion dollars in small business loans in Michigan in FY 2015.
Fiscal year 2016 has started strong with 571 7(a) loans totaling $171 million. 504 lending is ahead of last year’s pace with 48 loans totaling $35 million. Michigan continues to be a top producing district in SBA volume.