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Business Loans in Michigan

Connect with local lenders in Michigan who understand your market and business needs. From Detroit, Grand Rapids, Warren, Sterling Heights and beyond.

💰 $145,000 Average
Professional business handshake representing successful loan partnerships

Apply for Michigan Business Loan

Get pre-qualified in minutes. Our local specialists will review your application and connect you with the best funding options.

The Michigan Economy

Real-time economic insights powered by Federal Reserve data, showing Michigan's business climate and growth trajectory for informed lending decisions

Real GDP

$566.0B

+2.1% YoY

Strong economic expansion creates more business opportunities and favorable lending conditions

Unemployment Rate

5.4%

+14.9% YoY

Higher unemployment may affect consumer demand and loan repayment capacity

Population

10.14M

+0.6% YoY

Growing population expands your potential customer base and market opportunities

Per Capita Income

$63.2K

+3.9% YoY

Rising incomes indicate stronger purchasing power and loan qualification potential

GDP Growth Trajectory

Economic Output
$422.6B$476.1B$529.6B$584.7B$441.3B2010$454.0B2011$463.3B2012$472.8B2013$479.5B2014$490.6B2015$500.2B2016$505.1B2017$516.8B2018$521.1B2019$501.9B2020$530.4B2021$543.7B2022$554.3B2023$566.0B2024201020132016201920222024
Latest Value
$566.0B
+2.1%

Unemployment Rate Trend

Labor Market
3.0%5.6%8.3%11.0%4.5%20174.2%20184.1%201910.1%20205.7%20214.1%20223.9%20234.7%20245.4%20252017202020232025
Latest Value
5.4%
+14.9%

Population Growth

Market Size
9.84M9.95M10.06M10.18M9.88M People20109.88M People20119.90M People20129.91M People20139.93M People20149.93M People20159.95M People20169.98M People20179.99M People20189.98M People201910.07M People202010.04M People202110.05M People202210.08M People202310.14M People2024201020132016201920222024
Latest Value
10.14M
+0.6%

Per Capita Income Growth

Purchasing Power
$31.5K$43.3K$55.2K$67.4K$35,6352010$37,6892011$39,0422012$39,2922013$40,8292014$42,9822015$44,0802016$45,2642017$47,0892018$48,5772019$52,7872020$56,8982021$57,9072022$60,8652023$63,2212024201020132016201920222024
Latest Value
$63.2K
+3.9%
Hover for details • Data from Federal Reserve (FRED)

Industries We Serve in Michigan

From restaurants to construction companies, we connect businesses across all industries with specialized lenders

IndustryTypical Loan AmountCommon Loan TypesLearn More
🍽️
Restaurants
Restaurant and food service businesses n...
$50,000 - $500,000
Equipment Financing
Working Capital
Details
🍺
Bars & Nightlife
Bars and nightlife establishments requir...
$75,000 - $400,000
Equipment Financing
Working Capital
Details
🏨
Hotels & Lodging
Hotels and lodging businesses need subst...
$200,000 - $5,000,000
Commercial Real Estate
SBA Loans
Details
🏥
Medical Practices
Medical practices and healthcare provide...
$100,000 - $1,000,000
Equipment Financing
SBA Loans
Details
🏗️
Construction
Construction and contracting businesses ...
$50,000 - $2,000,000
Equipment Financing
Working Capital
Details
📊
Accountants & Auditors
Accounting firms and auditors need finan...
$25,000 - $300,000
Working Capital
SBA Loans
Details
🚗
Auto Repairs & Sales
Automotive businesses need financing for...
$50,000 - $750,000
Equipment Financing
Inventory Financing
Details
✈️
Aviation & Flight Schools
Aviation businesses and flight schools r...
$100,000 - $3,000,000
Equipment Financing
SBA Loans
Details
💄
Beauty Salons & Spas
Beauty salons and spas need financing fo...
$30,000 - $200,000
Equipment Financing
Working Capital
Details
👶
Child Care & Day Care
Child care centers and day care faciliti...
$75,000 - $500,000
SBA Loans
Equipment Financing
Details
🛍️
Retail Stores
Retail businesses need financing for inv...
$25,000 - $500,000
Inventory Financing
Working Capital
Details
🦷
Dentists & Dental Surgeons
Dental practices need financing for spec...
$150,000 - $800,000
Equipment Financing
SBA Loans
Details
💻
E-Commerce & Internet Sales
E-commerce businesses need financing for...
$20,000 - $300,000
Working Capital
Inventory Financing
Details
💪
Gyms & Fitness Centers
Fitness centers and gyms require financi...
$100,000 - $750,000
Equipment Financing
SBA Loans
Details
🏥
Healthcare & Senior Centers
Healthcare facilities and senior centers...
$200,000 - $2,000,000
SBA Loans
Equipment Financing
Details
🌿
Landscaping Services
Landscaping businesses need financing fo...
$25,000 - $200,000
Equipment Financing
Working Capital
Details
🧺
Laundromats & Dry Cleaners
Laundromats and dry cleaning businesses ...
$75,000 - $400,000
Equipment Financing
SBA Loans
Details
🚐
Transportation & Rental Cars
Transportation businesses need financing...
$50,000 - $1,000,000
Equipment Financing
Working Capital
Details
💊
Pharmacies & Dispensaries
Pharmacies and dispensaries need financi...
$100,000 - $600,000
Inventory Financing
Equipment Financing
Details
🎓
Private Schools & Education
Private schools and educational institut...
$100,000 - $2,000,000
SBA Loans
Equipment Financing
Details
🏠
Real Estate Agencies
Real estate agencies need financing for ...
$25,000 - $300,000
Working Capital
Equipment Financing
Details
🐕
Veterinarians & Animal Hospitals
Veterinary practices and animal hospital...
$150,000 - $800,000
Equipment Financing
SBA Loans
Details
📦
Wholesale & Distribution
Wholesale and distribution businesses ne...
$100,000 - $2,000,000
Inventory Financing
Working Capital
Details
🛡️
Insurance Agencies
Insurance agencies need financing for of...
$30,000 - $250,000
Working Capital
Equipment Financing
Details