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Economy

Michigan is number one in the country for small business loans

Michigan is number one in the nation for loans being issued to small businesses.

Turns out the Small Business Administration's Michigan district backed 1,221 loans to the tune of nearly $344 million in the first eight months of this fiscal year, which puts the SBA's Michigan district office at the top of the heap in terms of 7A lending.

David Sowerby is an economist with Loomis Sayles in Bloomfield Hills, and he joined us today to discuss what this means for the state.

Listen to the full interview above.

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