Top SBA Lenders in Michigan for Accommodation & Food Services
11 SBA 7(a) lenders active in Michigan's accommodation & food services sector.
Lenders
46 loans
Total Volume
Median Rate
State avg: Prime + 2.00%
Default Rate
State avg: 1.6%
Top Accommodation & Food Services Lenders in Michigan
Rate Distribution (Accommodation & Food Services in Michigan)
All Accommodation & Food Services Lenders in Michigan
| # | Lender | Loans | Volume | Rate | Default Rate |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7 | $3.1M | P+2.25% | 1.8% |
| 2 | Horizon Bank | 7 | $3.2M | P+0.75% | 0.0% |
| 3 | 1st State Bank | 5 | $615K | P+1.50% | 0.0% |
| 4 | ChoiceOne Bank | 5 | $1.7M | P+1.25% | 0.0% |
| 5 | Centerstone SBA Lending, Inc. | 4 | $2.1M | P+2.00% | 0.9% |
| 6 | Omni Community CU | 3 | $2.0M | P+1.50% | 0.0% |
| 7 | DFCU Financial | 3 | $837K | P+2.50% | 2.0% |
| 8 | United FCU | 3 | $2.0M | P+2.50% | 0.0% |
| 9 | Celtic Bank Corporation | 3 | $5.5M | P+2.50% | 1.7% |
| 10 | Dogwood State Bank | 3 | $1.6M | P+2.75% | 0.0% |
| 11 | Lake Michigan CU | 3 | $4.9M | P+1.00% | 1.6% |
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Customize your search →Accommodation & Food Services SBA Lending in Michigan
11 SBA 7(a) lenders are active in Michigan's accommodation & food services sector, having originated 46 loans totaling $27.6M. The median rate for accommodation & food services acquisitions in Michigan is Prime + 2.00%, compared to the statewide median of Prime + 2.00%.
The 10-year cumulative default rate for this niche is 1.7%, which is above the state average of 1.6%.
Frequently Asked Questions
How many SBA lenders specialize in accommodation & food services in Michigan?
11 SBA 7(a) lenders have originated accommodation & food services acquisition loans in Michigan, with a combined 46 loans.
What rate can I expect for a accommodation & food services acquisition in Michigan?
The median rate is Prime + 2.00% (Prime + spread). This compares to a statewide median of Prime + 2.00%. Actual rates depend on loan size, borrower qualifications, and collateral.
What is the default rate for accommodation & food services SBA loans in Michigan?
The 10-year cumulative default rate is 1.7%, compared to a statewide average of 1.6%.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected state and industry. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates.
Figures shown here are historical SBA 7(a) lending data presented for general information only. They are not an offer of credit, a prediction of the terms you will receive, or financial advice. VerSquare is not a licensed broker, lender, or financial advisor. Consult a licensed professional before making a financing decision.