SBA Michigan District Recognizes Fiscal Year 2017 Lenders Who Helped SBA Guarantee Record-Breaking $1 Billion in the State

DETROIT - The U.S. Small Business Administration’s Michigan District Office is pleased to announce its fiscal 2017 lender awards.  The awards are given in recognition of overall support of the SBA loan programs each year.  Huntington National Bank was named Michigan Lender of the Year, SBA’s award for the best overall performance. Consideration was given to volume, increases in dollar amount, area coverage, and participation in SBA programs and community activities.   Huntington National Bank originated loans totaling nearly $177 million in fiscal 2017.  This is the ninth year in a row that Huntington Bank has won this prestigious award. Runners up include Comerica Bank, Chase Bank, and Chemical Bank. 

“Our lending partners play a critical role in helping small businesses get the financing they need to start and grow their businesses,” said Constance Logan, SBA Michigan District Director.  “We are pleased to recognize their commitment to growing Michigan’s economy.” 

Also recognized this year is Horizon Bank as the Community Lender of the Year.  This award is given for best overall performance among Michigan-based, non-preferred lenders and is based on total volume, new market activity, and comparison with historical performance.  Horizon Bank originated 36 SBA loans totaling $7.5 million. 

Other award winners include Hastings City Bank as the Business Development Lender of the Year.  This award goes to the institution with the largest increase in loan approvals. In fiscal 2017, Hastings City Bank showed strong growth with a 360% increase in the number of loans and a 565% increase in loan dollars.

Traverse City State Bank was named the 504 Third Party Lender of the Year.  This award is given in recognition of the best overall support of SBA’s 504 loan program.  Traverse City State Bank originated 19 loans, a remarkable achievement for a bank its size.

Chase Bank was selected as the Diversity Lender of the Year, with 61% of all of its SBA lending going to underserved markets, including minorities, women, and veterans.

Hantz Bank was named the Community Diversity Lender of the Year for support of diverse small businesses, such as minorities, women, and veterans.  Seventy-five percent of its SBA lending went to minority owned companies.

The Export Finance Lender of the Year award was presented to Oxford Bank for outstanding commitment to helping small businesses reach international markets through the use of SBA Export loan programs.

Lake Trust Credit Union was named the Credit Union Lender of the Year for support of SBA lending with 13 SBA loans totaling over $7 million. 

The SBA District Director’s Award recognizes outstanding performance by an organization or individual in providing access to capital that falls outside our other award categories.   Derek Edwards, Senior Vice President, Invest Detroit received this award for his contributions to the small business community and support of numerous SBA initiatives. 

The top ten best performing 7(a) lenders in Michigan are based on number of loans approved.  The data is compiled by holding company.

In fiscal 2017, the Michigan District Office guaranteed 2,700 loans totally $1.087 billion with 170 lenders using SBA loan programs.