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
211
2010–2025
Total Volume
$137M
Gross loan amounts
States Active
4
With recorded loans
Programs
7(a) & 504
211 total segments
Mercantile Bank is a strong choice for borrowers seeking 504 loans, as they have a significant 54% of their SBA deals in this program, compared to the national average of 18%. This indicates they are well-versed in financing real estate and larger projects.
With an average deal size of $650,842 and a focus on existing businesses (75% of their deals), Mercantile Bank is particularly suited for established companies looking to expand or refinance rather than startups or acquisitions.
Mercantile Bank has shown impressive growth, doubling their deal volume year-over-year. This upward trend suggests they are actively seeking new borrowers and may be more flexible in their lending criteria as they expand their portfolio.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 113 504 loans, which use fixed SBA debenture rates.
States where MERCANTILE BANK has recorded SBA lending activity.
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Manufacturing
Manufacturing
Restaurants & Food Service
Accommodation & Food Services
Auto Dealers & Parts
Retail Trade
Specialty Trade Contractors
Construction
Other Health Practitioners
Health Care & Social Assistance
Arts, Entertainment & Recreation
Arts, Entertainment & Recreation
Personal Care (Salons, Spas)
Other Services
Real Estate
Real Estate
+ 7 more
All recorded SBA lending activity for MERCANTILE BANK, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Michigan · Manufacturing · Under $150K | 7(a) | 13 | P+2.50% | $82K | Q4 2015 |
| Michigan · Restaurants & Food Service · Under $150K | 7(a) | 10 | P+2.48% | $78K | Q1 2022 |
| Michigan · Manufacturing · $500K – $1M | 504 | 8 | — | $662K | Q4 2024 |
| Michigan · Restaurants & Food Service · $150K – $350K | 7(a) | 8 | P+2.38% | $274K | Q4 2016 |
| Michigan · Manufacturing · $500K – $1M | 7(a) | 6 | P+3.13% | $777K | Q4 2013 |
| Michigan · Restaurants & Food Service · $500K – $1M | 504 | 5 | — | $691K | Q4 2014 |
| Michigan · Personal Care (Salons, Spas) · Under $150K | 7(a) | 5 | P+2.75% | $71K | Q4 2020 |
| Michigan · Manufacturing · $150K – $350K | 7(a) | 5 | P+2.75% | $265K | Q3 2021 |
| Michigan · Other Health Practitioners · $150K – $350K | 504 | 4 | — | $244K | Q1 2025 |
| Michigan · Auto Dealers & Parts · $1M – $2M | 504 | 4 | — | $1.1M | Q3 2012 |
| Michigan · Manufacturing · $150K – $350K | 504 | 4 | — | $252K | Q4 2021 |
| Michigan · Manufacturing · $350K – $500K | 504 | 4 | — | $427K | Q3 2016 |
| Michigan · Restaurants & Food Service · $150K – $350K | 504 | 4 | — | $252K | Q3 2022 |
| Michigan · Auto Dealers & Parts · $150K – $350K | 7(a) | 3 | P+3.75% | $194K | Q2 2012 |
| Michigan · Nursing & Residential Care · $1M – $2M | 504 | 3 | — | $1.4M | Q2 2017 |
| Michigan · Specialty Trade Contractors · $1M – $2M | 504 | 3 | — | $1.5M | Q2 2021 |
| Michigan · Restaurants & Food Service · $350K – $500K | 7(a) | 3 | P+1.70% | $440K | Q4 2021 |
| Michigan · Specialty Trade Contractors · $150K – $350K | 7(a) | 3 | P+2.00% | $242K | Q3 2011 |
| Michigan · Manufacturing · $2M – $5M | 504 | 3 | — | $2.7M | Q1 2024 |
| Michigan · Building Construction · Under $150K | 7(a) | 3 | P+2.00% | $101K | Q4 2010 |
| Michigan · Arts, Entertainment & Recreation · $150K – $350K | 7(a) | 3 | P+2.00% | $225K | Q1 2016 |
| Michigan · Engineering & Architecture · $150K – $350K | 504 | 3 | — | $243K | Q3 2013 |
| Michigan · Manufacturing · $350K – $500K | 7(a) | 2 | P+1.88% | $433K | Q3 2021 |
| Michigan · Arts, Entertainment & Recreation · $1M – $2M | 504 | 2 | — | $1.5M | Q4 2024 |
| Michigan · Wholesale Trade · Under $150K | 7(a) | 2 | P+2.13% | $121K | Q1 2010 |
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Real experiences from borrowers who closed SBA loans with MERCANTILE BANK.
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