GOOD
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
411
2010–2026
Total Volume
$396M
Gross loan amounts
States Active
7
With recorded loans
Programs
7(a) & 504
410 total segments
Lake Michigan CU has a strong focus on existing businesses, with 55% of their deals supporting established companies. This could be beneficial if you're looking to expand or refinance an existing operation.
With an average 7(a) spread of P+2.53%, Lake Michigan CU offers competitive pricing compared to the national median of P+2.75%. This could save you money on interest over the life of your loan.
Despite a significant drop in deal volume of 59% year-over-year, Lake Michigan CU remains active in 7 states, primarily Florida. If you're in Florida, this lender's local presence could facilitate a smoother loan process.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 64 504 loans, which use fixed SBA debenture rates.
States where Lake Michigan CU has recorded SBA lending activity.
+ 2 more states
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Restaurants & Food Service
Accommodation & Food Services
Wholesale Trade
Wholesale Trade
Specialty Trade Contractors
Construction
Administrative & Waste Services
Administrative & Waste Services
Manufacturing
Manufacturing
Auto Repair & Maintenance
Other Services
Transportation & Warehousing
Transportation & Warehousing
Other Repair & Services
Other Services
+ 7 more
All recorded SBA lending activity for Lake Michigan CU, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Florida · Restaurants & Food Service · $150K – $350K | 7(a) | 16 | P+2.75% | $286K | Q1 2024 |
| Florida · Restaurants & Food Service · $500K – $1M | 7(a) | 12 | P+2.63% | $832K | Q2 2024 |
| Florida · Wholesale Trade · $2M – $5M | 7(a) | 9 | P+2.25% | $4.0M | Q4 2023 |
| Florida · Administrative & Waste Services · $150K – $350K | 7(a) | 8 | P+2.75% | $261K | Q4 2022 |
| Florida · Wholesale Trade · $500K – $1M | 7(a) | 8 | P+2.88% | $833K | Q1 2024 |
| Florida · Wholesale Trade · $150K – $350K | 7(a) | 6 | P+2.75% | $291K | Q3 2023 |
| Florida · Auto Repair & Maintenance · $2M – $5M | 504 | 6 | — | $2.3M | Q2 2025 |
| Florida · Other Repair & Services · $150K – $350K | 7(a) | 5 | P+2.75% | $252K | Q2 2024 |
| Florida · Administrative & Waste Services · $500K – $1M | 7(a) | 5 | P+2.75% | $750K | Q3 2023 |
| Florida · Wholesale Trade · $1M – $2M | 7(a) | 5 | P+2.75% | $1.6M | Q3 2023 |
| Florida · Manufacturing · $500K – $1M | 7(a) | 5 | P+2.75% | $888K | Q1 2022 |
| Florida · Administrative & Waste Services · $350K – $500K | 7(a) | 5 | P+2.75% | $483K | Q1 2023 |
| Florida · Administrative & Waste Services · $1M – $2M | 7(a) | 5 | P+2.50% | $1.5M | Q1 2022 |
| Florida · Specialty Trade Contractors · $500K – $1M | 7(a) | 5 | P+2.75% | $876K | Q1 2021 |
| Florida · Building Construction · $150K – $350K | 7(a) | 5 | P+2.25% | $293K | Q4 2024 |
| Florida · Accounting & Tax · $500K – $1M | 7(a) | 5 | P+2.00% | $649K | Q3 2021 |
| Florida · Specialty Trade Contractors · $1M – $2M | 7(a) | 5 | P+2.25% | $1.4M | Q1 2024 |
| Florida · Transportation & Warehousing · $1M – $2M | 7(a) | 5 | P+2.75% | $1.6M | Q1 2024 |
| Florida · Specialty Trade Contractors · $350K – $500K | 7(a) | 4 | P+2.75% | $418K | Q3 2023 |
| Florida · Other Health Practitioners · $500K – $1M | 7(a) | 4 | P+2.13% | $763K | Q3 2025 |
| Florida · Administrative & Waste Services · $2M – $5M | 7(a) | 4 | P+2.75% | $3.6M | Q3 2022 |
| Florida · Social Assistance · $500K – $1M | 7(a) | 4 | P+2.75% | $592K | Q3 2022 |
| Florida · Restaurants & Food Service · $350K – $500K | 7(a) | 4 | P+2.75% | $452K | Q3 2023 |
| Florida · Manufacturing · $2M – $5M | 7(a) | 4 | P+2.50% | $4.8M | Q2 2023 |
| Florida · Transportation & Warehousing · $2M – $5M | 7(a) | 4 | P+2.75% | $2.5M | Q1 2021 |
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Real experiences from borrowers who closed SBA loans with Lake Michigan CU.
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