Quick answer: Michigan referral partners earn fees by introducing Michigan businesses to commercial financing. The state's commercial finance market is shaped by the Detroit automotive supplier ecosystem, the EV and battery manufacturing transformation, West Michigan's furniture and manufacturing industry, Michigan's healthcare systems, and the seasonal cash flow patterns created by Michigan's harsh winters. Michigan's Construction Lien Act has a 20-day Notice of Furnishing requirement that affects construction financing. Referral fees range from 0.5% to 2% of funded amounts.
Last updated: May 2026
Michigan referral partners
Michigan's identity as the center of American automotive manufacturing is both its defining economic characteristic and its greatest source of commercial finance referral activity. The state's Tier 1 through Tier 3 automotive supplier ecosystem — hundreds of companies supplying parts, systems, and services to Ford, GM, and Stellantis — generates consistent equipment financing and working capital needs that traditional bank lending cannot always accommodate at the speed and scale the automotive supply chain requires. The EV transition has added a new dimension to this picture, with battery manufacturing investment and EV component supply chain development creating a new wave of financing needs. West Michigan's manufacturing and furniture industry, Michigan's world-class healthcare systems, and the seasonal business cycle created by Michigan's severe winters round out one of the most commercially interesting state markets in the Midwest.
Michigan's economy is in a period of significant transition. The traditional manufacturing base — centered on automotive production and supply chain — has been joined by emerging manufacturing sectors including EV and battery technology, medical devices, aerospace, and advanced materials. The state's economic geography has two distinct poles: the Detroit metropolitan area and the Southeast Michigan manufacturing corridor in Macomb, Oakland, and Wayne counties; and West Michigan, centered on Grand Rapids and extending through the furniture manufacturing communities of Holland, Zeeland, and Kentwood.
The Detroit metro remains the most active commercial finance market in the state, dominated by automotive supplier businesses of every size. Southeast Michigan is home to the most concentrated automotive supply chain in the world, with thousands of Tier 1, Tier 2, and Tier 3 suppliers operating in close proximity to the Ford, GM, and Stellantis assembly plants and engineering centers. The financing needs of this ecosystem — equipment financing for new program tooling, working capital for manufacturers with net-60 OEM payment terms, and AR financing for suppliers waiting on payment from Tier 1 customers — are large and consistent.
Michigan's overall economic health has improved significantly over the past decade following the deep recession that the automotive industry's collapse caused in 2008-2009. Business formation is strong, manufacturing employment has been recovering, and the EV transition has attracted substantial new investment. However, the automotive supply chain's transition from internal combustion to electric vehicles has created winners and losers among existing suppliers, and some businesses in the traditional ICE supply chain are facing structural challenges that complicate their access to traditional bank financing — creating opportunities for alternative commercial finance.
Michigan does not have a standalone commercial finance broker licensing requirement for most referral arrangements, which means the entry barrier for referral partners is low from a regulatory standpoint.
The Detroit-area automotive supplier ecosystem is the heart of Michigan's commercial finance market. Automotive suppliers — companies that manufacture stampings, castings, plastics, electronics, wiring harnesses, seating systems, and every other component that goes into a modern vehicle — have distinctive financing needs shaped by the automotive industry's program-based business model.
When a Tier 1 or Tier 2 supplier wins a new vehicle program — a multi-year contract to supply a specific component to a specific vehicle — they need tooling and capital equipment to produce that component. The tooling investment is often substantial: $200,000 to $2,000,000 for a significant program. And the equipment is needed before revenue from the new program begins. Traditional bank lending is sometimes too slow or too conservative about the specific tooling and equipment types used in automotive manufacturing. Specialty equipment lenders and alternative lenders who understand automotive tooling values and the OEM program structure can often place these deals at the speed the program timeline requires.
Accounts receivable financing is equally important for Michigan automotive suppliers. The automotive supply chain typically operates on net-60 to net-90 payment terms from OEMs and Tier 1 customers. A Tier 2 supplier that sells $5 million per month to a major Tier 1 customer on net-60 terms has $10 million in outstanding receivables at any given time — working capital that is tied up in customer credit rather than available for operations. AR factoring or a receivables financing facility can convert that outstanding balance to immediate cash, freeing the supplier to fund operations, invest in tooling, or pursue new business.
The automotive supply chain also has a specific concentration risk dynamic that affects financing. Suppliers who are heavily dependent on a single OEM or a single vehicle program are riskier credit profiles than more diversified manufacturers. When an OEM reduces production, changes a design, or cancels a program, the supplier's revenue can fall sharply. Lenders who understand this dynamic and can evaluate it appropriately are more valuable to Michigan automotive suppliers than generalist bank underwriters who may simply decline businesses with concentrated customer bases.
Michigan is positioned at the center of the United States' electric vehicle manufacturing transition. Ford's BlueOval City battery and EV assembly complex in Marshall, the BlueOval SK battery joint venture facilities in Michigan and Kentucky, General Motors' Ultium Cells battery plants, and a rapidly growing ecosystem of EV component and battery system suppliers have made Michigan the leading state for EV manufacturing investment.
The EV and battery manufacturing supply chain creates commercial financing opportunities that are similar in structure to the traditional automotive supply chain but are concentrated in newer, faster-growing businesses that may have limited operating history and are scaling rapidly to meet program requirements. A specialty chemical company that has won a contract to supply electrolyte materials to a Michigan battery plant needs capital to expand its production capacity — equipment, facilities, working capital — on a timeline that matches the battery plant's production ramp schedule. Traditional banks that are unfamiliar with battery chemistry manufacturing or that require more operating history than the company has may decline. Specialty lenders who understand the contract quality and the growth trajectory can often accommodate these deals.
Equipment financing is the most active product for EV supplier businesses. Production equipment for battery cells and modules, precision testing equipment, clean room equipment for battery manufacturing, and specialized transportation equipment for handling battery materials and finished packs all represent significant capital investments for the suppliers in this ecosystem.
Working capital financing is also important for EV suppliers because the battery manufacturing supply chain is new and payment terms are still being established. Some EV programs involve milestone-based payment structures — payments tied to production volume achievements rather than monthly invoices — that create lumpy cash flow patterns for suppliers. Working capital financing can smooth these patterns and allow suppliers to fund operations continuously regardless of when milestone payments are received.
West Michigan's economy is one of the most manufacturing-intensive in the United States, with Grand Rapids as the regional center. The region is particularly known for the office and commercial furniture industry — Herman Miller (now MillerKnoll), Steelcase, and Knoll are all based in West Michigan, and they anchor an enormous ecosystem of contract manufacturers, component suppliers, and specialty materials producers.
Equipment financing for West Michigan manufacturers follows the same general pattern as other manufacturing markets. When a contract manufacturer wins a new program from Herman Miller or Steelcase — supplying a new chair component, a metal stamping, a fabric assembly — they need tooling and production equipment to fulfill the contract. The equipment investment needs to happen quickly, on the program timeline, which is often faster than traditional bank lending processes.
The office furniture industry is also affected by economic cycles in corporate office space. When companies reduce office footprint — as happened substantially during the pandemic work-from-home shift — furniture manufacturers and their suppliers face revenue reductions that can affect their access to traditional bank credit. Some manufacturers who struggled through the 2020-2022 period have had bank relationships become more conservative even as their revenues have recovered. Alternative commercial finance can serve businesses in this recovery phase that have strong current financials but recent credit history complications.
West Michigan has also developed a significant medical device manufacturing sector. Companies producing disposable medical products, durable medical equipment, surgical instruments, and diagnostic devices are active in the greater Grand Rapids area. Medical device manufacturing requires specialized equipment, rigorous quality certifications, and significant capital investment — creating equipment financing needs that specialty lenders in this sector can accommodate.
Agriculture and food processing is active in western Michigan, particularly in the fruit and vegetable growing regions along Lake Michigan and in the crop farming communities to the east. Agricultural equipment financing and working capital for food processors create referral opportunities for CPAs and advisors who serve this sector.
Michigan has a strong healthcare infrastructure anchored by world-class academic medical centers and major regional health systems. University of Michigan Health System (Michigan Medicine) is consistently ranked among the top medical centers in the country. Henry Ford Health, Corewell Health (formed by the merger of Beaumont Health and Spectrum Health), and Trinity Health Michigan operate large networks of hospitals, outpatient clinics, and specialty practices across the state.
These major systems anchor a large private practice and medical services ecosystem. Specialist physicians, dental practices, optometry groups, physical therapy clinics, and mental health practices throughout Southeast Michigan and West Michigan create consistent practice acquisition financing and equipment financing needs. Michigan's healthcare market is particularly active for dental practice transactions — Michigan has a higher-than-average dentist-to-population ratio and an active dental practice acquisition market, with both solo practitioners selling to group practices and larger dental support organizations expanding through acquisition.
Healthcare staffing is a significant industry in Michigan given the size of the state's hospital systems. Staffing agencies that place nurses, CNAs, and allied health workers in Michigan's hospital networks bill on net-30 to net-60 terms but must pay their workers weekly. Accounts receivable factoring is the standard working capital tool for healthcare staffing companies in this situation.
Medical equipment financing is active across Michigan's healthcare market. The continued investment in advanced imaging technology, minimally invasive surgical equipment, digital diagnostics, and telehealth infrastructure means that healthcare practices and clinics are continuously acquiring new equipment. Banks that are conservative about healthcare equipment valuations or that require more operating history from newer practices leave room for specialty healthcare equipment lenders.
Michigan's severe winters are one of the most significant factors shaping the state's commercial finance market for certain industries. Michigan experiences some of the harshest winter weather of any major US state — lake effect snow from Lakes Michigan and Superior, sub-zero temperatures, and winter conditions that can persist from November through April — which has a profound effect on the cash flow patterns of outdoor-dependent businesses.
Landscaping and lawn care companies in Michigan operate from approximately April or May through October or November and generate essentially zero revenue for four to five months of the year. These businesses need working capital in the fall to fund the winter period and to prepare for spring start-up — purchasing materials, doing equipment maintenance, retaining key staff, and funding insurance and other fixed costs during the revenue gap. Working capital advances that are repaid during the spring and summer revenue season are the natural financing solution.
Residential and commercial construction has a compressed season in Michigan — outdoor work is limited primarily to the May-through-October period, though interior work continues year-round. Contractors who are primarily outdoor-focused face cash flow gaps in winter similar to landscapers. Equipment that sits idle for five months still needs to be paid for, and staff who are retained for year-round operations need payroll that can strain cash flow during the slow period.
Outdoor recreation and tourism businesses in Northern Michigan — ski resorts, lake resorts, charter fishing operations, camping and outdoor recreation businesses — have seasonal patterns that go both ways: ski resorts are active in winter and idle in summer; lake resorts are active in summer and idle in winter. Either way, the revenue concentration in a few months of the year creates working capital financing needs to bridge the off-season. Revenue-based financing with repayment tied to actual revenue is well-suited to these businesses because the repayment automatically drops to near zero during the off-season.
Referral partners who work with Michigan's seasonal businesses — CPAs who prepare tax returns for landscapers, contractors, or resort operators — see these seasonal cash flow patterns in the financial statements and are naturally positioned to identify financing needs before the slow season begins rather than in the middle of it.
Michigan's Construction Lien Act governs the rights of contractors, subcontractors, and suppliers to place liens on construction projects for unpaid work. The statute requires subcontractors and suppliers who are not in direct contract with the property owner to provide a Notice of Furnishing to the general contractor within 20 days of first furnishing labor or materials on private commercial projects. Subcontractors who miss this deadline may lose their ability to file a mechanics lien, which weakens their position in payment disputes and reduces the quality of their receivables for financing purposes.
Michigan's construction industry is active across the state, though the compressed outdoor building season — roughly six months per year in most of Michigan — creates seasonal concentration of construction activity that affects both project timelines and the urgency of financing needs. Construction companies that need to accelerate project completion before winter limits outdoor work may have particular urgency around equipment financing and working capital for the fall construction push.
Construction equipment financing in Michigan is active for the same reasons as in other states: banks that are unfamiliar with construction equipment values or conservative about construction industry credit leave room for specialty equipment lenders. The seasonal nature of Michigan construction means that equipment is used intensively during the building season and sits idle in winter — a utilization pattern that some bank lenders view negatively but that specialty equipment lenders understand as normal for the Michigan market.
For referral partners working with Michigan construction businesses, the 20-day Notice of Furnishing deadline is important context for construction invoice financing conversations. Subcontractors who have properly served the Notice of Furnishing on all relevant projects have preserved lien rights that back their outstanding receivables. Those who have missed the deadline have receivables that are harder to factor or finance. Helping clients understand this requirement before financing conversations begin adds value and improves the quality of deals that reach the lender.
The Michigan Association of CPAs serves more than 20,000 members, and the CPA community in the Detroit suburbs — Oakland, Macomb, and Wayne counties — is particularly active in serving manufacturing and automotive supplier clients. CPA firms in communities like Troy, Bloomfield Hills, Livonia, and Dearborn have developed deep expertise in automotive industry accounting and can serve as effective referral partners for automotive supplier financing needs.
West Michigan CPAs in Grand Rapids and surrounding communities serve a diverse manufacturing and professional services client base. The Grand Rapids area has a strong tradition of closely-held family businesses, many in manufacturing, that work with local CPA firms across multiple generations. These CPAs have long-standing relationships with their clients and deep knowledge of their financial situations — ideal conditions for identifying financing needs and making warm referrals.
Michigan also has a meaningful government contracting sector, particularly in Southeast Michigan where defense and federal government contractors serve the military installations at Selfridge Air National Guard Base and Wurtsmith Air Force Base, as well as the federal government's presence in Detroit. Government contractors who face slow federal payment timelines benefit from working capital and contract financing solutions.
| Deal type | Primary industries | Typical deal size | Key trigger for referral |
|---|---|---|---|
| Automotive tooling and equipment financing | Detroit-area Tier 2 and Tier 3 suppliers | $100,000–$3,000,000 | New OEM/Tier 1 program award; bank too slow or conservative |
| EV supplier equipment and working capital | Battery component, EV systems suppliers statewide | $100,000–$2,000,000 | Rapid scale-up to meet program timeline; limited history |
| Seasonal working capital | Landscaping, construction, Northern MI tourism | $25,000–$300,000 | Winter revenue gap; spring start-up capital |
| Healthcare practice acquisition / equipment | Southeast MI and West MI dental, medical | $100,000–$2,000,000 | Practice sale; dental group expansion; equipment upgrade |
| Manufacturing AR / working capital | West MI furniture suppliers, medical device | $100,000–$3,000,000 | Net-60/90 OEM payment terms; bank tightened post-downturn |
Michigan referrals follow the standard Axiant process. Sign the referral agreement, then submit deals as they arise. For Michigan deals, include the following:
Axiant works with lenders who understand Michigan's automotive, EV manufacturing, and healthcare markets. Referrals receive a response within one business day.
FAQ
Automotive supplier financing (Tier 1-3 to Ford, GM, Stellantis), EV and battery manufacturing supply chain, West Michigan furniture and medical device manufacturing, Michigan healthcare systems and private practices, and seasonal businesses (landscaping, construction, Northern Michigan tourism) that face Michigan's severe winter revenue gaps.
Michigan requires subcontractors to serve a Notice of Furnishing to the GC within 20 days of first furnishing work to preserve lien rights. Missing this deadline can eliminate lien rights and weaken receivable quality for factoring. Referral partners should help construction clients understand and comply with the 20-day Notice of Furnishing requirement.
Landscaping, construction, and Northern Michigan outdoor businesses operate 6-8 months per year and face 4-5 month winter revenue gaps. Revenue-based financing with repayment tied to actual revenue is well-suited to these businesses because repayment drops automatically during winter slow months. Referral partners should identify seasonal financing needs in the fall before the slow season begins.
Ford's BlueOval City, GM's Ultium Cells plants, and the surrounding EV supplier ecosystem create equipment financing and working capital needs for suppliers scaling up to meet program timelines. These businesses often have strong contracts but limited history — making alternative commercial finance a better fit than traditional bank lending.
The Herman Miller/Steelcase furniture ecosystem, growing medical device manufacturing, and food processing create equipment financing and working capital referral opportunities. West Michigan CPAs serving multi-generational family manufacturing businesses have long-standing relationships that make them effective referral partners for both equipment financing and AR/working capital needs.
Ready to refer a Michigan deal?
Michigan's automotive supplier ecosystem, EV manufacturing transformation, West Michigan manufacturing, and healthcare systems create diverse and consistent commercial finance referral opportunities statewide. We respond within one business day.
