STRONG
How competitive are their spreads? Lower = better for you.
GOOD
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
WEAK
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
454
2010–2026
Total Volume
$234M
Gross loan amounts
States Active
6
With recorded loans
Programs
7(a) & 504
454 total segments
Independent Bank has a strong focus on existing businesses, with 70% of their SBA deals supporting established companies. This makes them a solid choice if you're looking to expand or refinance an existing business.
With a 28% share of 504 loans, Independent Bank is more active in this program compared to the national average of 18%. This indicates a strong capacity for financing real estate and larger projects, making them a good fit for borrowers needing these types of loans.
The average deal size at Independent Bank is $514,987, which is higher than many lenders focused on smaller loans. If you're seeking a loan above $500K, this lender could be a suitable option for your financing needs.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 126 504 loans, which use fixed SBA debenture rates.
States where Independent Bank has recorded SBA lending activity.
+ 1 more state
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Manufacturing
Manufacturing
Restaurants & Food Service
Accommodation & Food Services
Specialty Trade Contractors
Construction
Real Estate
Real Estate
Administrative & Waste Services
Administrative & Waste Services
Other Health Practitioners
Health Care & Social Assistance
Physician & Dental Offices
Health Care & Social Assistance
Wholesale Trade
Wholesale Trade
+ 7 more
All recorded SBA lending activity for Independent Bank, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Michigan · Manufacturing · Under $150K | 7(a) | 21 | P+2.25% | $77K | Q1 2025 |
| Michigan · Manufacturing · $150K – $350K | 7(a) | 18 | P+2.00% | $276K | Q2 2025 |
| Michigan · Restaurants & Food Service · Under $150K | 7(a) | 13 | P+2.25% | $94K | Q3 2024 |
| Michigan · Specialty Trade Contractors · Under $150K | 7(a) | 12 | P+2.13% | $76K | Q2 2025 |
| Michigan · Administrative & Waste Services · Under $150K | 7(a) | 12 | P+2.13% | $79K | Q1 2025 |
| Michigan · Manufacturing · $350K – $500K | 7(a) | 10 | P+2.38% | $477K | Q2 2025 |
| Michigan · Specialty Trade Contractors · $150K – $350K | 7(a) | 9 | P+1.50% | $246K | Q4 2024 |
| Michigan · Manufacturing · $1M – $2M | 7(a) | 9 | P+1.75% | $1.5M | Q4 2024 |
| Michigan · Manufacturing · $150K – $350K | 504 | 8 | — | $225K | Q4 2022 |
| Michigan · Real Estate · $150K – $350K | 7(a) | 7 | P+2.75% | $257K | Q4 2025 |
| Michigan · Restaurants & Food Service · $150K – $350K | 7(a) | 7 | P+2.75% | $219K | Q3 2025 |
| Michigan · Restaurants & Food Service · $150K – $350K | 504 | 7 | — | $250K | Q3 2021 |
| Michigan · Physician & Dental Offices · $150K – $350K | 504 | 7 | — | $294K | Q2 2017 |
| Michigan · Food & Beverage Stores · $150K – $350K | 7(a) | 6 | P+2.58% | $279K | Q1 2025 |
| Michigan · Retail Trade · Under $150K | 7(a) | 6 | P+1.00% | $51K | Q2 2025 |
| Michigan · Other Health Practitioners · $150K – $350K | 504 | 5 | — | $219K | Q2 2021 |
| Michigan · Manufacturing · Under $150K | 504 | 5 | — | $110K | Q2 2017 |
| Michigan · Real Estate · Under $150K | 7(a) | 5 | P+2.25% | $73K | Q2 2025 |
| Michigan · Manufacturing · $500K – $1M | 504 | 5 | — | $675K | Q4 2022 |
| Michigan · Other Health Practitioners · Under $150K | 7(a) | 5 | P+1.50% | $70K | Q3 2019 |
| Michigan · Arts, Entertainment & Recreation · Under $150K | 7(a) | 5 | P+2.50% | $63K | Q4 2025 |
| Michigan · Other Health Practitioners · $150K – $350K | 7(a) | 5 | P+1.10% | $218K | Q3 2022 |
| Michigan · Real Estate · $500K – $1M | 7(a) | 5 | P+2.50% | $834K | Q4 2024 |
| Michigan · Transportation & Warehousing · Under $150K | 7(a) | 5 | P+2.25% | $74K | Q3 2017 |
| Michigan · Retail Trade · $150K – $350K | 7(a) | 5 | P+2.75% | $239K | Q2 2025 |
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