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MI
Last updated: July 11, 2025
Michigan Business Funding Guide
Michigan's small business lending outlook for 2025 is solid, with strong automotive and manufacturing activity driving loan demand. Detroit has seen expanded access to SBA lenders and redevelopment financing, bringing the average loan size to $480,000. While competition remains high, especially for working capital, Michigan offers dependable funding for growth-stage businesses across industrial and service sectors.
10,050,811
Population
495000
Avg. Funding Amount
Automotive
Business Climate
3
Major Cities
Major Business Centers
Detroit
Grand Rapids
Lansing
Top Business Funding Topics for Michigan
Essential reading for Michigan entrepreneurs seeking business funding
Merchant Cash Advance
#1
Everything you need to know about merchant cash advances, including how they work, costs, benefits, and alternatives - Specifically tailored for Michigan businesses and market conditions.
12 min read
Read Guide