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Limited-Service Restaurants: SBA acquisition loans in Michigan
44 SBA-financed business acquisitions in Michigan classified as Limited-Service Restaurants, FY2024–FY2026. Median loan $400K. See which lenders did them.
- Acquisitions financed
- 44
- Total approved
- $33.5M
- Median loan
- $400K
- Middle half of loans
- $224K to $1.0M
- 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 | 9 | 20% | $190K | $2.1M |
| 2 | Live Oak Banking Company | 5 | 11% | $1.7M | $9.0M |
| 3 | TowneBank | 4 | 9% | $424K | $1.8M |
| 4 | Horizon Bank | 3 | 7% | $998K | $2.7M |
| 5 | ChoiceOne Bank | 3 | 7% | $545K | $2.0M |
| 6 | United FCU | 3 | 7% | $690K | $2.0M |
| 7 | Old National Bank | 2 | 5% | $745K | $1.5M |
| 8 | Fifth Third Bank | 2 | 5% | $628K | $1.3M |
| 9 | Western State Bank | 2 | 5% | $225K | $450K |
| 10 | First Internet Bank of Indiana | 1 | 2% | $2.7M | $2.7M |
| 11 | Oxford Bank | 1 | 2% | $2.4M | $2.4M |
| 12 | Lake Michigan CU | 1 | 2% | $1.9M | $1.9M |
| 13 | Community Choice CU | 1 | 2% | $1.6M | $1.6M |
| 14 | Byline Bank | 1 | 2% | $515K | $515K |
| 15 | Union Bank | 1 | 2% | $350K | $350K |
For comparison, the same industry nationwide: 826 loans, median $414K, median starting rate 9.50%. See Limited-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.