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Bank · Grand Rapids, MI

Independent Bank: SBA lending profile

SBA 7(a) loans, October 2021 to June 30, 2026 · Updated October 15, 2026 · Lender website
121
SBA loans approved
$96.3M
Total approved
$350,000
Median loan
3
States lent in
32%
To startups
#310
National rank by loans

Independent Bank approved 121 SBA loans worth $96.3M between October 2021 and June 2026, ranking #310 of 2,283 SBA lenders nationally by loan count. Its median loan was $350,000, and 32% went to startups or businesses under two years old. It lent in 3 states, most often in Michigan, and its most financed industry was retail.

SBA loans per fiscal year

0204060FY14: 15 loansFY14FY15: 10 loansFY15FY16: 5 loansFY16FY17: 6 loansFY17FY18: 5 loansFY18FY19: 8 loansFY19FY20: 5 loansFY20FY21FY22: 9 loansFY22FY23: 8 loansFY23FY24: 26 loansFY24FY25: 51 loansFY2551FY26 (Oct to Jun): 27 loansFY2627
Fiscal year runs October to September. Fiscal 2026 covers October 2025 to June 2026 only.

Where Independent Bank lends

StateLoansApprovedMedian loanRank in state
Michigan117$84.8M$350,000#15
Illinois3$9.6M$4,492,000#168
Oklahoma1$1.9M$1,889,000#175

Industries Independent Bank finances

IndustryLoansShareMedian loan
Retail21
17%
$250,000
Construction19
16%
$350,000
Manufacturing15
12%
$492,000
Professional and technical services15
12%
$783,000
Restaurants and hotels9
7%
$235,000
Wholesale trade7
6%
$500,000
Education6
5%
$329,500
Other services (repair, personal care)6
5%
$200,000
Health care and social assistance6
5%
$278,500
Administrative and support services5
4%
$250,000
Loan size mix
  • Under $150,00017%
  • $150,000 to $500,00038%
  • $500,000 to $2 million33%
  • $2 million and up12%
Loan programs used
  • Preferred Lender (PLP)44%
  • SBA Express40%
  • Standard 7(a)11%
  • Preferred Lenders with WCP3%
  • CAPLines2%
Data from the U.S. Small Business Administration's public 7(a) and 504 loan records (through June 30, 2026) and FDIC call-report data (quarter ending June 30, 2026). US Lender Metrics is not affiliated with the SBA, FDIC, FFIEC, NCUA or any lender, is not a lender or loan broker, and does not make credit decisions. Information only; not financial, legal or lending advice. © 2026 US Lender Metrics.