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Hotels (except Casino Hotels) and Motels: SBA acquisition loans in Michigan
31 SBA-financed business acquisitions in Michigan classified as Hotels (except Casino Hotels) and Motels, FY2024–FY2026. Median loan $2.2M. See which lenders did them.
- Acquisitions financed
- 31
- Total approved
- $85.2M
- Median loan
- $2.2M
- Middle half of loans
- $1.7M to $4.4M
- Median starting rate
- 8.80%
- Median term
- 25 yrs
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Lenders that financed these deals
| # | Lender | Loans | Share | Median loan | Total approved |
|---|---|---|---|---|---|
| 1 | Shoreham Bank | 9 | 29% | $2.9M | $25.7M |
| 2 | GBank | 8 | 26% | $4.8M | $30.5M |
| 3 | Centerstone SBA Lending, Inc. | 5 | 16% | $1.1M | $6.5M |
| 4 | First Western SBLC, LLC d/b/a Peachtree Group | 2 | 6% | $2.3M | $4.5M |
| 5 | First Utah Bank | 1 | 3% | $5.0M | $5.0M |
| 6 | Open Bank | 1 | 3% | $5.0M | $5.0M |
| 7 | Southwestern National Bank | 1 | 3% | $3.1M | $3.1M |
| 8 | Celtic Bank Corporation | 1 | 3% | $1.8M | $1.8M |
| 9 | Millennium Bank | 1 | 3% | $1.5M | $1.5M |
| 10 | Merchants Bank of Indiana | 1 | 3% | $900K | $900K |
| 11 | Huron Community Bank | 1 | 3% | $640K | $640K |
For comparison, the same industry nationwide: 768 loans, median $3.1M, median starting rate 8.75%. See Hotels (except Casino Hotels) and Motels 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.