# Small business loans in Royal Oak, MI

**Short answer:** The most active SBA lenders in Royal Oak, MI since FY2024 are The Huntington National Bank (27 loans) and Fifth Third Bank (6). The median loan was $150,000, and half fell between $50,000 and $519,725. For free help, see the Michigan Small Business Development Center. Source: SBA 7(a) loan data.

Canonical page: https://www.sbaexpress.loans/michigan-small-business-loans/royal-oak/
Data as of: 2026-06-30

## Lenders making SBA loans in Royal Oak

The Huntington National Bank made the most loans in Royal Oak, 47% of the total.

**Lenders with five or more SBA loans in Royal Oak, MI, FY2024 to June 2026**

| Lender | Loans | Share |
| --- | --- | --- |
| [The Huntington National Bank](https://www.sbaexpress.loans/sba-express-lenders/the-huntington-national-bank/michigan/) | 27 | 46.6% |
| [Fifth Third Bank](https://www.sbaexpress.loans/sba-express-lenders/fifth-third-bank/) | 6 | 10.3% |

Share is the percent of all Royal Oak loans in that period. Each name links to that lender's page for Michigan where one exists.

Royal Oak has two lenders with five or more loans since FY2024. Others had fewer, and the Michigan page counts 192 lenders with at least one approved loan statewide.

## Local help near Royal Oak

Royal Oak borrowers can start with SBA's district office for Michigan, an SBDC or SCORE.

SBA has one district office for Michigan. Its page points to state and federal resources and to lenders in the area. The Michigan Small Business Development Center gives free counseling across Michigan.

- [SBA Michigan District Office (Detroit, with a Grand Rapids branch by appointment): SBA district office](https://www.sba.gov/district/michigan)
- [Michigan Small Business Development Center: Small Business Development Center](https://michigansbdc.org/)
- [SCORE mentors in Michigan: Business mentoring](https://www.score.org/mi/)

## Loan counts and sizes in Royal Oak

Royal Oak ranks 19th by loans since FY2024 among the 25 Michigan cities with 100 or more SBA loans since FY2020. Nationally it is the 468th busiest of the 580 cities that reach 100 loans.

The 58 loans, 1.0% of the 5,627 in Michigan, were approved for $26.7 million in all. The median loan was $150,000, close to the national median of $150,300. Half of the loans fell between $50,000 and $519,725. The Michigan median is $150,000.

**Royal Oak, MI compared with Michigan and the nation, loans from FY2024 to June 2026**

| Measure | Royal Oak | Michigan | U.S. |
| --- | --- | --- | --- |
| Loans | 58 | 5,627 | 162,355 |
| Median loan | $150,000 | $150,000 | $150,300 |
| 25th percentile | $50,000 | $50,000 | $50,000 |
| 75th percentile | $519,725 | $379,800 | $500,000 |
| Via SBA Express | 32.8% | 38.6% | 35.8% |
| Lines of credit | 32.8% | 36.6% | 28.1% |
| Startups | 22.4% | 17.5% | 16.1% |
| Ownership changes | 10.3% | 11.2% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.5 | 2.0 | 2.75 |
| Charged off | Fewer than 5 | 2.2% | 3.6% |

A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.

32.8% of all loans went through SBA Express, below the national 35.8%. Lines of credit were 32.8% of loans, above the national 28.1%.

SBA loans in Royal Oak, MI by size, FY2024 to June 2026

- $50,000 or less (28%): 16
- $50,001 to $150,000 (26%): 15
- $150,001 to $350,000 (14%): 8
- $350,001 to $500,000: Fewer than 5
- $500,001 to $1,000,000 (16%): 9
- $1,000,001 to $2,000,000: Fewer than 5
- Over $2,000,000: Fewer than 5

Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.

SBA loans in Royal Oak, MI by fiscal year

- FY2020: 12
- FY2021: 12
- FY2022: 15
- FY2023: 18
- FY2024: 24
- FY2025: 20
- FY2026 (through June 30): 14

Fiscal years run October to September. The last bar covers nine of its twelve months.

Volume fell 17% from FY2024 (24 loans) to FY2025 (20), the two latest full years. The busiest full year in the file was FY2024, with 24 loans. FY2026 already shows 14 loans through June 30.

Of the 39 loans Royal Oak borrowers received in FY2020 to FY2022, fewer than 5 were charged off by June 30, 2026, against 3.6% nationally. Lenders reported 546 jobs supported across the 58 loans since FY2024, about 9.4 per loan. SBA does not audit these estimates.

## What businesses in Royal Oak borrow for

Full-Service Restaurants was the largest borrower group in Royal Oak since FY2020, with 6 loans or 5.2% of the total.

The three largest industries made up 15% of all Royal Oak loans since FY2020.

**Industries with the most SBA loans in Royal Oak, MI, FY2020 to June 2026**

| Industry | Loans | Share | U.S. share |
| --- | --- | --- | --- |
| [Full-Service Restaurants](https://www.sbaexpress.loans/industries/full-service-restaurants/michigan/) | 6 | 5.2% | 4.6% |
| [Offices of Physicians (except Mental Health Specialists)](https://www.sbaexpress.loans/industries/offices-of-physicians/) | 6 | 5.2% | 1.1% |
| [General Automotive Repair](https://www.sbaexpress.loans/industries/general-automotive-repair/michigan/) | 5 | 4.3% | 1.5% |

Share is the percent of all Royal Oak loans in that period. Industry is the NAICS code on each loan. A name links to the Michigan page for that industry where one exists.

## A typical loan payment in Royal Oak

The median Royal Oak loan was $150,000 with a median term of 10 years.

The median variable-rate loan in Royal Oak was priced at Prime plus 2.5 percentage points at approval. At today's Prime that spread works out to 9.50%. On $150,000 over 10 years, principal and interest would come to about $1,941 a month. That is arithmetic on past loans, not a rate a lender is offering.

**Payment at today's rate on three Royal Oak loan sizes over 10 years**

| Loan | Amount | Monthly payment |
| --- | --- | --- |
| 25th percentile loan | $50,000 | $647 |
| Median loan | $150,000 | $1,941 |
| 75th percentile loan | $519,725 | $6,725 |

Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.

SBA's rate ceiling for this loan size

SBA's maximum for a loan of $150,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.5 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).

Royal Oak loans approved since FY2024 had a median starting rate of 10% at approval, against 10.25% nationally. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.

Run your own numbers: [payments on a $150,000 loan](https://www.sbaexpress.loans/loan-amounts/150000-business-loan/) and [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

## SBA 504 loans near Royal Oak

Royal Oak has 9 SBA 504 loans since FY2020, with $9.2 million in SBA and CDC dollars.

Fewer than five of them came in FY2024 or later, so no recent median is published. The bank's share of each project is separate and is not counted in these figures.

Michigan Certified Development Corporation is the one Certified Development Company (CDC) named on five or more loans, 5 since FY2020.

**CDCs named on five or more 504 loans in Royal Oak, FY2020 to June 2026**

| Certified Development Company | 504 loans |
| --- | --- |
| Michigan Certified Development Corporation | 5 |

How a 504 loan is split

A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capital or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a [list of Certified Development Companies](https://www.sba.gov/loans/504-loans/list-of-certified-development-companies/).

## Michigan cities near Royal Oak

Royal Oak made up 1.0% of Michigan's SBA loans since FY2024.

Royal Oak is one of 25 Michigan cities with 100 or more SBA loans since FY2020. The [Michigan page](https://www.sbaexpress.loans/michigan-small-business-loans/) covers all 5,627 loans in Michigan. The closest come first, ranked by county and ZIP code on their loans.

- [Southfield: 74 loans, median $100,000](https://www.sbaexpress.loans/michigan-small-business-loans/southfield/)
- [Troy: 110 loans, median $227,050](https://www.sbaexpress.loans/michigan-small-business-loans/troy/)
- [Farmington Hills: 54 loans, median $150,000](https://www.sbaexpress.loans/michigan-small-business-loans/farmington-hills/)
- [Novi: 51 loans, median $150,000](https://www.sbaexpress.loans/michigan-small-business-loans/novi/)
- [Warren: 60 loans, median $200,050](https://www.sbaexpress.loans/michigan-small-business-loans/warren/)
- [Macomb: 41 loans, median $70,000](https://www.sbaexpress.loans/michigan-small-business-loans/macomb/)
- [Clinton Township: 65 loans, median $130,000](https://www.sbaexpress.loans/michigan-small-business-loans/clinton-township/)
- [Ann Arbor: 111 loans, median $150,000](https://www.sbaexpress.loans/michigan-small-business-loans/ann-arbor/)

## Common questions about SBA loans in Royal Oak

### Which lenders make the most SBA loans in Royal Oak?

The Huntington National Bank leads with 27 loans in Royal Oak since FY2024. Fifth Third Bank (6) follows. Only lenders with five or more Royal Oak loans are counted.

### Which industries get SBA loans in Royal Oak?

Full-Service Restaurants leads with 6 loans in Royal Oak since FY2020. Offices of Physicians (except Mental Health Specialists) (6) and General Automotive Repair (5) follow.

How to read this

Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. [How we build these pages](https://www.sbaexpress.loans/method/).

## Sources

- [SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026](https://data.sba.gov/dataset/7a-504-foia)
- [SBA, 504 loans](https://www.sba.gov/loans/504-loans/)
- [SBA, resource partners: SBDCs and SCORE](https://www.sba.gov/counseling/local-assistance/resource-partners/)
- [SBA Michigan District Office (Detroit, with a Grand Rapids branch by appointment)](https://www.sba.gov/district/michigan)
- [Michigan Small Business Development Center](https://michigansbdc.org/)
- [SCORE, Michigan](https://www.score.org/mi/)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)](https://www.sba.gov/loans/504-loans/)
- [SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)](https://www.ecfr.gov/current/title-13/section-120.214)