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Full-Service Restaurants: SBA acquisition loans in Michigan
49 SBA-financed business acquisitions in Michigan classified as Full-Service Restaurants, FY2024–FY2026. Median loan $457K. See which lenders did them.
- Acquisitions financed
- 49
- Total approved
- $34.5M
- Median loan
- $457K
- Middle half of loans
- $225K to $965K
- Median starting rate
- 9.25%
- Median term
- 10 yrs
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Lenders that financed these deals
| # | Lender | Loans | Share | Median loan | Total approved |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 18 | 37% | $163K | $6.0M |
| 2 | Horizon Bank | 5 | 10% | $418K | $2.1M |
| 3 | First Internet Bank of Indiana | 3 | 6% | $1.3M | $3.1M |
| 4 | ChoiceOne Bank | 2 | 4% | $1.0M | $2.1M |
| 5 | Capitol National Bank | 2 | 4% | $870K | $1.7M |
| 6 | Fifth Third Bank | 2 | 4% | $612K | $1.2M |
| 7 | Old National Bank | 2 | 4% | $347K | $695K |
| 8 | Banc of California | 1 | 2% | $4.0M | $4.0M |
| 9 | Pathward National Association | 1 | 2% | $3.4M | $3.4M |
| 10 | The Bancorp Bank National Association | 1 | 2% | $1.4M | $1.4M |
| 11 | TBA CU | 1 | 2% | $1.3M | $1.3M |
| 12 | North State Bank | 1 | 2% | $1.2M | $1.2M |
| 13 | Lake Michigan CU | 1 | 2% | $1.0M | $1.0M |
| 14 | Celtic Bank Corporation | 1 | 2% | $830K | $830K |
| 15 | Chelsea State Bank | 1 | 2% | $804K | $804K |
For comparison, the same industry nationwide: 1,235 loans, median $465K, median starting rate 9.50%. See Full-Service Restaurants in every state.
Deals by SBA fiscal year
Reading these numbers
The amount shown is the gross loan approval. A loan can cover costs beyond the purchase, and the public file does not disclose the agreed purchase price or the rest of the financing. The loan-size analysis shows how to compare amounts across markets.