MI Bank

This is a commercial bank that provides SBA loan programs and small business financing options to support local entrepreneurs and business growth.

It is recommended to schedule an appointment to ensure dedicated service, but walk-ins may be accommodated depending on availability.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.

There are no fees for accessing basic information, but loan processing may involve origination and closing costs.

This bank primarily serves small business owners in the region, but SBA programs are accessible nationwide.

Typically, a minimum personal credit score of 620 is preferred.

The underwriting process generally takes between 30 to 45 days, depending on the complexity of the application.

Most banks keep weekday business hours and are closed on weekends, and MI Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call MI Bank to confirm current weekend availability before you go.

MI Bank is located in Michigan — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for MI Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by MI Bank itself, which runs its own lending under its own ownership. If you work at MI Bank, you can claim this listing from this page to manage it.

The core details for MI Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with MI Bank before applying. If you represent MI Bank, claim this listing to keep its information up to date.

You can reach MI Bank by phone at (855) 642-2651 or online at mi.bank — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with MI Bank before relying on them.

Like most SBA lenders, MI Bank can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask MI Bank directly which industries it actively lends to before you apply.

MI Bank offers SBA Express loans—expedited, government-guaranteed financing up to $350,000 available as a term loan or line of credit for various business purposes. Contact MI Bank to confirm current terms and eligibility.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. MI Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. MI Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask MI Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask MI Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask MI Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with MI Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. MI Bank weighs this case by case under its own policy, so be upfront about your history and ask MI Bank how it evaluates prior bankruptcies.