The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.
Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.
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Flippa found the county in Michigan where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA's most common loan program, known as 7(a) loans. SBA's 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.
Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don't qualify for conventional business financing. They can also provide protection against high and volatile interest rates, as SBA-backed loans have maximum interest rates that are predictable and often lower than other loans.
In a national analysis of the #1 ranked counties in every state, all but two counties had populations of less than 500,000—most smaller than 100,000. That's not surprising, as the Census Bureau classifies about 99% of U.S. counties as small. Still, it signifies that these smaller communities are building successful entrepreneurial environments. In most cases, their small businesses are able to succeed beyond those within the major U.S. population centers—at least in terms of success in gaining SBA funding.
Read on to see whether your county ranks among those receiving the most SBA loans.
#50. Berrien County
- SBA approved about $22.94 per resident in 7(a) loans in 2023. - Total approved funds: $3.5 million - Number of loans: 17
#49. Branch County
- SBA approved about $23.38 per resident in 7(a) loans in 2023. - Total approved funds: $1.0 million - Number of loans: 6
#48. Alpena County
- SBA approved about $23.49 per resident in 7(a) loans in 2023. - Total approved funds: $679,100 - Number of loans: 7
#47. Barry County
- SBA approved about $25.37 per resident in 7(a) loans in 2023. - Total approved funds: $1.6 million - Number of loans: 5
#46. Houghton County
- SBA approved about $25.59 per resident in 7(a) loans in 2023. - Total approved funds: $959,300 - Number of loans: 5
#45. Bay County
- SBA approved about $27.72 per resident in 7(a) loans in 2023. - Total approved funds: $2.9 million - Number of loans: 23
#44. Jackson County
- SBA approved about $30.38 per resident in 7(a) loans in 2023. - Total approved funds: $4.9 million - Number of loans: 30
#43. Cheboygan County
- SBA approved about $33.35 per resident in 7(a) loans in 2023. - Total approved funds: $855,600 - Number of loans: 3
#42. Mecosta County
- SBA approved about $35.42 per resident in 7(a) loans in 2023. - Total approved funds: $1.4 million - Number of loans: 6
#41. Muskegon County
- SBA approved about $37.11 per resident in 7(a) loans in 2023. - Total approved funds: $6.5 million - Number of loans: 35
#40. Newaygo County
- SBA approved about $37.38 per resident in 7(a) loans in 2023. - Total approved funds: $1.9 million - Number of loans: 9
#39. Cass County
- SBA approved about $39.63 per resident in 7(a) loans in 2023. - Total approved funds: $2.0 million - Number of loans: 5
#38. Monroe County
- SBA approved about $40.52 per resident in 7(a) loans in 2023. - Total approved funds: $6.2 million - Number of loans: 31
#37. Presque Isle County
- SBA approved about $42.59 per resident in 7(a) loans in 2023. - Total approved funds: $552,600 - Number of loans: 1
#36. Gratiot County
- SBA approved about $42.66 per resident in 7(a) loans in 2023. - Total approved funds: $1.8 million - Number of loans: 7
#35. St. Clair County
- SBA approved about $43.19 per resident in 7(a) loans in 2023. - Total approved funds: $6.9 million - Number of loans: 33
#34. Iosco County
- SBA approved about $44.34 per resident in 7(a) loans in 2023. - Total approved funds: $1.1 million - Number of loans: 5
#33. Shiawassee County
- SBA approved about $44.44 per resident in 7(a) loans in 2023. - Total approved funds: $3.0 million - Number of loans: 15
#32. Clare County
- SBA approved about $44.78 per resident in 7(a) loans in 2023. - Total approved funds: $1.4 million - Number of loans: 11
#31. Allegan County
- SBA approved about $44.82 per resident in 7(a) loans in 2023. - Total approved funds: $5.4 million - Number of loans: 33
#30. Kalamazoo County
- SBA approved about $45.33 per resident in 7(a) loans in 2023. - Total approved funds: $11.8 million - Number of loans: 47
#29. Montcalm County
- SBA approved about $48.28 per resident in 7(a) loans in 2023. - Total approved funds: $3.2 million - Number of loans: 17
#28. Antrim County
- SBA approved about $55.26 per resident in 7(a) loans in 2023. - Total approved funds: $1.3 million - Number of loans: 6
#27. Iron County
- SBA approved about $60.19 per resident in 7(a) loans in 2023. - Total approved funds: $697,000 - Number of loans: 4
#26. Ingham County
- SBA approved about $62.14 per resident in 7(a) loans in 2023. - Total approved funds: $17.7 million - Number of loans: 53
#25. Arenac County
- SBA approved about $63.44 per resident in 7(a) loans in 2023. - Total approved funds: $952,100 - Number of loans: 8
#24. Genesee County
- SBA approved about $64.00 per resident in 7(a) loans in 2023. - Total approved funds: $26.0 million - Number of loans: 106
#23. Osceola County
- SBA approved about $65.89 per resident in 7(a) loans in 2023. - Total approved funds: $1.5 million - Number of loans: 4
#22. Lapeer County
- SBA approved about $70.74 per resident in 7(a) loans in 2023. - Total approved funds: $6.3 million - Number of loans: 22
#21. Saginaw County
- SBA approved about $72.38 per resident in 7(a) loans in 2023. - Total approved funds: $13.8 million - Number of loans: 53
#20. Roscommon County
- SBA approved about $75.54 per resident in 7(a) loans in 2023. - Total approved funds: $1.8 million - Number of loans: 14
#19. Clinton County
- SBA approved about $77.97 per resident in 7(a) loans in 2023. - Total approved funds: $6.2 million - Number of loans: 14
#18. Manistee County
- SBA approved about $80.12 per resident in 7(a) loans in 2023. - Total approved funds: $2.0 million - Number of loans: 6
#17. Wayne County
- SBA approved about $82.32 per resident in 7(a) loans in 2023. - Total approved funds: $147.3 million - Number of loans: 416
#16. Macomb County
- SBA approved about $84.79 per resident in 7(a) loans in 2023. - Total approved funds: $74.5 million - Number of loans: 235
#15. Calhoun County
- SBA approved about $86.02 per resident in 7(a) loans in 2023. - Total approved funds: $11.5 million - Number of loans: 15
#14. Otsego County
- SBA approved about $88.45 per resident in 7(a) loans in 2023. - Total approved funds: $2.2 million - Number of loans: 7
#13. Eaton County
- SBA approved about $96.89 per resident in 7(a) loans in 2023. - Total approved funds: $10.6 million - Number of loans: 20
#12. Charlevoix County
- SBA approved about $97.87 per resident in 7(a) loans in 2023. - Total approved funds: $2.6 million - Number of loans: 12
#11. Mackinac County
- SBA approved about $99.41 per resident in 7(a) loans in 2023. - Total approved funds: $1.1 million - Number of loans: 2
#10. Van Buren County
- SBA approved about $99.68 per resident in 7(a) loans in 2023. - Total approved funds: $7.5 million - Number of loans: 21
#9. Washtenaw County
- SBA approved about $107.28 per resident in 7(a) loans in 2023. - Total approved funds: $40.0 million - Number of loans: 81
#8. Kent County
- SBA approved about $112.08 per resident in 7(a) loans in 2023. - Total approved funds: $73.4 million - Number of loans: 256
#7. Livingston County
- SBA approved about $130.14 per resident in 7(a) loans in 2023. - Total approved funds: $25.1 million - Number of loans: 52
#6. Oakland County
- SBA approved about $133.98 per resident in 7(a) loans in 2023. - Total approved funds: $170.4 million - Number of loans: 473
#5. Ottawa County
- SBA approved about $141.17 per resident in 7(a) loans in 2023. - Total approved funds: $41.5 million - Number of loans: 79
#4. Chippewa County
- SBA approved about $145.97 per resident in 7(a) loans in 2023. - Total approved funds: $5.4 million - Number of loans: 9
#3. Grand Traverse County
- SBA approved about $176.91 per resident in 7(a) loans in 2023. - Total approved funds: $16.7 million - Number of loans: 40
#2. Emmet County
- SBA approved about $228.40 per resident in 7(a) loans in 2023. - Total approved funds: $7.8 million - Number of loans: 18
#1. Keweenaw County
- SBA approved about $2101.00 per resident in 7(a) loans in 2023. - Total approved funds: $4.3 million - Number of loans: 5
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 50 states.
This story originally appeared on Flippa and was produced and distributed in partnership with Stacker Studio.
