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
82
2011–2025
Total Volume
$12M
Gross loan amounts
States Active
1
With recorded loans
Programs
7(a)
82 total segments
Most active in Michigan (100% of deals) and focuses heavily on restaurants & food service (27% of deals).
With a median 7(a) spread of P + 3.05%, Northern Great Lakes Initiatives prices well above the national median of P + 2.00% — worth comparing against specialists in your industry.
60% of Northern Great Lakes Initiatives's SBA deals go to startups and new businesses — more startup-friendly than most SBA lenders, where existing businesses typically dominate.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes.
States where Northern Great Lakes Initiatives has recorded SBA lending activity.
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Restaurants & Food Service
Accommodation & Food Services
Manufacturing
Manufacturing
Personal Care (Salons, Spas)
Other Services
Transportation & Warehousing
Transportation & Warehousing
Auto Repair & Maintenance
Other Services
General Merchandise
Retail Trade
Wholesale Trade
Wholesale Trade
Specialty Trade Contractors
Construction
+ 7 more
All recorded SBA lending activity for Northern Great Lakes Initiatives, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| Michigan · Restaurants & Food Service · Under $150K | 7(a) | 13 | P+3.25% | $113K | Q2 2021 |
| Michigan · Restaurants & Food Service · $150K – $350K | 7(a) | 9 | P+3.00% | $234K | Q1 2024 |
| Michigan · Manufacturing · Under $150K | 7(a) | 5 | P+2.00% | $110K | Q4 2024 |
| Michigan · Transportation & Warehousing · Under $150K | 7(a) | 4 | P+3.75% | $94K | Q4 2017 |
| Michigan · Personal Care (Salons, Spas) · Under $150K | 7(a) | 4 | P+3.25% | $115K | Q3 2018 |
| Michigan · Auto Repair & Maintenance · Under $150K | 7(a) | 4 | P+3.50% | $90K | Q3 2021 |
| Michigan · Wholesale Trade · Under $150K | 7(a) | 4 | P+3.38% | $101K | Q1 2025 |
| Michigan · Manufacturing · $150K – $350K | 7(a) | 4 | P+3.50% | $193K | Q2 2022 |
| Michigan · General Merchandise · $150K – $350K | 7(a) | 3 | P+2.75% | $210K | Q3 2020 |
| Michigan · Food & Beverage Stores · $150K – $350K | 7(a) | 2 | P+2.75% | $286K | Q2 2025 |
| Michigan · Agriculture & Forestry · $150K – $350K | 7(a) | 2 | P+3.50% | $189K | Q4 2019 |
| Michigan · Retail Trade · Under $150K | 7(a) | 2 | P+3.88% | $116K | Q2 2021 |
| Michigan · Building Construction · $150K – $350K | 7(a) | 2 | P+3.63% | $200K | Q2 2022 |
| Michigan · Hotels & Accommodation · $150K – $350K | 7(a) | 2 | P+2.75% | $233K | Q1 2017 |
| Michigan · Administrative & Waste Services · $150K – $350K | 7(a) | 2 | P+2.88% | $234K | Q1 2023 |
| Michigan · Arts, Entertainment & Recreation · Under $150K | 7(a) | 2 | P+3.00% | $128K | Q4 2017 |
| Michigan · Specialty Trade Contractors · Under $150K | 7(a) | 2 | P+3.75% | $133K | Q2 2016 |
| Michigan · Arts, Entertainment & Recreation · $150K – $350K | 7(a) | 1 | P+2.75% | $245K | Q1 2012 |
| Michigan · Specialty Trade Contractors · $150K – $350K | 7(a) | 1 | P+2.00% | $235K | Q1 2018 |
| Michigan · Food & Beverage Stores · Under $150K | 7(a) | 1 | P+3.25% | $51K | Q1 2017 |
| Michigan · Gas Stations · Under $150K | 7(a) | 1 | P+4.50% | $87K | Q3 2021 |
| Michigan · General Merchandise · Under $150K | 7(a) | 1 | P+3.00% | $67K | Q1 2016 |
| Michigan · Engineering & Architecture · $150K – $350K | 7(a) | 1 | P+3.25% | $215K | Q3 2012 |
| Michigan · Other Professional Services · Under $150K | 7(a) | 1 | P+2.25% | $75K | Q3 2017 |
| Michigan · Physician & Dental Offices · Under $150K | 7(a) | 1 | P+3.25% | $100K | Q4 2015 |
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Real experiences from borrowers who closed SBA loans with Northern Great Lakes Initiatives.
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