55 SBA loans worth $20.3M went to businesses in Petoskey, MI between October 2021 and June 2026, from 13 lenders. Huntington National Bank made the most, 29 loans. The median loan was $106,900, compared with $150,000 across Michigan, and restaurants and hotels was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Huntington National Bank Bank · Columbus, OH | 29 | $7.6M | $50,000 | 17% |
| 2 | Citizens National Bank of Cheboygan Bank · Cheboygan, MI | 4 | $2.4M | $363,350 | 25% |
| 3 | Great Lakes Commercial Finance Certified development company · Grandville, MI | 3 | $2.6M | $991,000 | 33% |
| 4 | 4Front Credit Union Credit union · Traverse City, MI | 3 | $1.4M | $150,000 | 0% |
| 5 | Newtek Bank Bank · Miami, FL | 3 | $140K | $50,000 | 0% |
| 6 | Merchants Bank of Indiana Bank · Carmel, IN | 2 | $1.2M | $621,300 | 0% |
| 7 | Readycap Lending Non-bank lender · Berkeley Heights, NJ | 2 | $530K | $265,250 | 0% |
| 8 | Northern Great Lakes Initiatives Non-bank lender · Marquette, MI | 2 | $503K | $251,600 | 50% |
| 9 | Western State Bank Bank · Devils Lake, ND | 2 | $450K | $225,000 | 0% |
| 10 | Celtic Bank Bank · Salt Lake City, UT | 2 | $300K | $150,000 | 0% |
| 11 | Live Oak Banking Bank · Wilmington, NC | 1 | $2.5M | $2,500,000 | 100% |
| 12 | Honor Bank Bank · Honor, MI | 1 | $500K | $500,000 | 100% |
| 13 | Northeast Bank Bank · Portland, ME | 1 | $210K | $210,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Restaurants and hotels | 21 | $150,000 | Huntington National Bank | |
| Construction | 9 | $50,000 | Huntington National Bank | |
| Other services (repair, personal care) | 6 | $80,950 | Huntington National Bank | |
| Retail | 5 | $546,700 | Huntington National Bank | |
| Professional and technical services | 4 | $182,000 | Huntington National Bank | |
| Health care and social assistance | 4 | $101,000 | Huntington National Bank | |
| Education | 2 | $64,500 | Huntington National Bank | |
| Information and media | 2 | $32,750 | Readycap Lending |