First Merchants Bank SBA loans in Michigan
Short answer
SBA's loan file shows First Merchants Bank made 95 SBA loans in Michigan since October 2019. 62.1% went through SBA Express, against 23.8% of its loans nationally. The median loan was $100,000, less than half its national median of $375,000.
- SBA loans, Oct 2019 to Jun 2026
- 95
- median loan
- $100,000
- dollars approved
- $42.76M
- went through SBA Express
- 62.1%
This site is not First Merchants Bank
sbaexpress.loans is not First Merchants Bank, and First Merchants Bank did not provide, review or pay for this page. Janover Capital LLC runs this site. Every figure on this page comes from SBA's public 7(a) loan file, not from First Merchants Bank.
These are the 95 SBA 7(a) loans First Merchants Bank made in Michigan approved October 2019 to June 2026. Each figure is set against all of its loans in the U.S. over the same period. State is where the business is, not where the lender is based. The file lists loans SBA approved, so it shows what the lender has done and not what it will do for you. Every state page for this lender uses this same period, so the pages can be compared with each other.
How First Merchants Bank differs in Michigan
What this means for you. SBA Express was a more common route for these loans here, so ask First Merchants Bank about it if your loan is small enough to qualify.
SBA Express
62.1% of the loans in Michigan went through SBA Express, against 23.8% of its loans nationally.
Loan size
The medianThe middle figure. Half the loans were larger and half were smaller. loan was $100,000 in Michigan, less than half its national median of $375,000.
The middle half of loans in Michigan ran from $50,000 to $437,900. For all its loans the middle half ran from $100,000 to $996,600.
Share of the state's loans
First Merchants Bank made 0.72% of the SBA loans approved in Michigan since October 2019, against 0.26% of loans nationwide. Its share here is 2.8 times its national share.
We compared 9 measures with the national figure for the same period, and these are the 3 that differ clearly. One more difference is in the table.
Michigan next to the U.S.
| Measure | Michigan | All its U.S. loans | Reading |
|---|---|---|---|
| Lender's share of all SBA loans | 0.72% | 0.26% | Clearly higher |
| Median loan | $100,000 | $375,000 | Clearly lower |
| Middle half of loans | $50,000 to $437,900 | $100,000 to $996,600 | – |
| Startups (the loan opens the business) | 7.4% | 17.6% | No clear gap |
| In business 2 years or less | 6.3% | 4.5% | No clear gap |
| In business more than 2 years | 74.7% | 62.6% | No clear gap |
| Change of ownership | 11.6% | 15.2% | No clear gap |
| SBA Express | 62.1% | 23.8% | Clearly higher |
| Lines of credit | 61.1% | 24.3% | Clearly higher |
| Median term | 10 years | 10 years | – |
| Median spread over Prime at approval | 4 points over Prime | 2.75 points over Prime | – |
Clearly higher and clearly lower mark a gap large enough to matter and unlikely to be chance for this many loans. Spread over Prime is the rate at approval minus Prime that day, so it is not today's rate. Rows with a dash are shown for reference.
What First Merchants Bank lends to in Michigan
The industry below accounts for 6 of the 95 loans approved October 2019 to June 2026, or 6.3%. An industry is listed when it has 5 or more of them, five at most.
| Industry | Loans | Share here | U.S. share |
|---|---|---|---|
| Beer, Wine, and Liquor Retailers | 6 | 6.3% | Not in top 5 |
Share here is the industry's share of the lender's loans in this state. U.S. share is its share of all the lender's loans nationally. Not in top 5 means it is not one of the lender's five most common industries.
First Merchants Bank in other states
Other states where these loans differ clearly from the national pattern, most loans first.
| State | Loans since October 2019 |
|---|---|
| Indiana | 172 |
| Texas | 76 |
| Florida | 73 |
| California | 67 |
Other lenders in Michigan
Other lenders in Michigan with a clear difference from the national pattern, most loans first.
| Lender | Loans since October 2019 |
|---|---|
| The Huntington National Bank | 6,793 |
| First Internet Bank of Indiana | 146 |
| Old National Bank | 127 |
| CDC Small Business Finance | 58 |
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. A lender's past loans do not describe its current credit policy. Location is the borrower's address in the file. Loans are those approved October 1, 2019 to June 30, 2026. SBA's fiscal year runs October 1 to September 30. Each figure is set against the national figure for the same period. A gap is called clear when it is large enough to matter and unlikely to be chance for this many loans. A comparison with no clear gap in the loans is not published. Express counts SBA Express and Export Express loans. Lines of credit are loans SBA's file flags as revolving. How we build these pages.
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Cite this page: First Merchants Bank SBA loans in Michigan. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/sba-express-lenders/first-merchants-bank/michigan/
Ask lending partners about your loan in Michigan
Tell us your state, loan amount and purpose, and we route your inquiry to lending partners. We are not First Merchants Bank and cannot say whether it would lend to you.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.