Independent Bank
Independent Bank is an SBA 7(a) lender that has approved 107 loans totaling $79.4M between FY2020 and Q1 FY2026 (2025-12-31), with a 0.00% charge-off rate on mature loans. Average loan size: $742K. Active in 4 states. Headquartered in Grand Rapids, MI.
Total 7(a) loans
107
Total approved
$79.4M
Average loan
$742K
States funded in
4
Charge-off rate
0.00%
FY2020–FY2023 cohort
Paid-in-full rate
22.73%
Average rate
8.72%
Average term
121 mo
Top 10 industries financed
| NAICS | Industry | Loans |
|---|---|---|
| 541330 | Engineering Services | 5 |
| 237310 | Highway, Street, and Bridge Construction | 4 |
| 423120 | Motor Vehicle Supplies and New Parts Merchant Wholesalers | 3 |
| 238210 | Electrical Contractors | 3 |
| 611699 | All Other Miscellaneous Schools and Instruction | 3 |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 3 |
| 561730 | Landscaping Services | 3 |
| 339950 | Sign Manufacturing | 3 |
| 541110 | Offices of Lawyers | 2 |
| 541990 | All Other Professional, Scientific, and Technical Services | 2 |
Top 10 states
| State | Loans |
|---|---|
| MI | 102 |
| IL | 3 |
| OK | 1 |
| TX | 1 |
Top franchise brands financed
10 franchise loans across 5 distinct brands.
| Franchise | Loans |
|---|---|
| Goldfish Swim School | 4 |
| School of Rock | 3 |
| Ziebart | 1 |
| The Pump House | 1 |
| Graze Craze | 1 |
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Data source & methodology
All figures computed from the SBA Office of Capital Access FOIA dataset (7(a) loans, FY2020–present, as of 2025-12-31). Charge-off and paid-in-full rates are calculated on the FY2020–FY2023 cohort only, so loans have had time to mature. Charge-off rank covers lenders with ≥500 mature loans.