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General Automotive Repair: SBA acquisition loans in Michigan
19 SBA-financed business acquisitions in Michigan classified as General Automotive Repair, FY2024–FY2026. Median loan $660K. See which lenders did them.
- Acquisitions financed
- 19
- Total approved
- $15.8M
- Median loan
- $660K
- Middle half of loans
- $230K to $1.1M
- Median starting rate
- 9.50%
- 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 | 4 | 21% | $536K | $2.7M |
| 2 | First Internet Bank of Indiana | 3 | 16% | $475K | $2.8M |
| 3 | Live Oak Banking Company | 2 | 11% | $1.8M | $3.7M |
| 4 | IncredibleBank | 1 | 5% | $1.5M | $1.5M |
| 5 | First State Bank | 1 | 5% | $1.1M | $1.1M |
| 6 | Bank Michigan | 1 | 5% | $758K | $758K |
| 7 | First Merchants Bank | 1 | 5% | $742K | $742K |
| 8 | Superior National Bank | 1 | 5% | $660K | $660K |
| 9 | Grasshopper Bank National Association | 1 | 5% | $611K | $611K |
| 10 | United FCU | 1 | 5% | $600K | $600K |
| 11 | ChoiceOne Bank | 1 | 5% | $236K | $236K |
| 12 | Grand River Bank | 1 | 5% | $225K | $225K |
| 13 | Michigan Certified Development Corporation | 1 | 5% | $144K | $144K |
For comparison, the same industry nationwide: 485 loans, median $686K, median starting rate 9.50%. See General Automotive Repair 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.