Feasibility Study Data for the Grand Rapids-Wyoming-Kentwood, MI Metro Area

Volume and loan size in Grand Rapids-Wyoming-Kentwood

3,883 SBA loans for projects in Grand Rapids-Wyoming-Kentwood, MI from FY2017 to FY2026 carry $1.36 billion in gross dollars. Grand Rapids-Wyoming-Kentwood ranks 36 of 928 within the complete list of metropolitan and micropolitan areas by loans. $100,000 marks the median; half of all loans spans $41,850 to $325,500. Then, the area median comes to 0.48x in proportion to the country's median, meaning loans tend to run below the figure for the nation. For context, Grand Rapids-Wyoming-Kentwood counts only its home counties, never a state's mix of markets: 3,883 loans overall.

Lenders and programs in Grand Rapids-Wyoming-Kentwood

3,529 7(a) approvals stand against 354 loans in 504. 8.2% of the approvals go to franchised units here. Then, within 7(a) cases, the biggest banks and lenders by count are The Huntington National Bank booking 2,342 loans totalling $355.8 million, Fifth Third Bank booking 139 loans and $78.8 million, then ChoiceOne Bank holding 66 loans for $34.6 million. For context, for 504, the leading program intermediaries by loans come out as Great Lakes Commercial Finance at 224 loans totalling $162.4 million. Separately, all the names come from SBA data for 3,883 loans; they list completed approvals and no more, not the terms that lenders require around Grand Rapids-Wyoming-Kentwood.

Classes, counties and the unclassified bulk in Grand Rapids-Wyoming-Kentwood

178 in full-service restaurant, 87 for limited-service restaurant, 70 for fitness center, plus automotive mechanical repair with 63 rank first by class in loan count. 3,114 loans sit beyond all named classes, so its $1.36 billion total is wider than what the classes show. 5 approvals in nonresidential lessor within Grand Rapids-Wyoming-Kentwood make too small a base for a pattern. Separately, among the counties, Kent County (2,591), Ottawa County (947), and Montcalm County (124) lead the loan count. Next, over the approval years, FY2017 opens at 467 loans and $134.2 million; no year beats the opening one, and FY2026, the last complete year, concludes the run at 259 loans and $131.6 million.

Outcome floors and the limits of the file for Grand Rapids-Wyoming-Kentwood

10.4% of FY2017 to FY2024 loans in Grand Rapids-Wyoming-Kentwood were cancelled after approval before disbursement, and that is a floor; 12.1% marks the ceiling with undisbursed loans included. 2.9% among FY2017 to FY2021 disbursed loans in Grand Rapids-Wyoming-Kentwood have been charged off, a floor; 1.6% went to charge-off by the fifth year after approval, across a cohort of 1,830 disbursed loans. Beyond that, read each share above like a lower bound, because loans written lately have had little opportunity to cancel or default; the file has 3,883 loans in all. Then, a Grand Rapids-Wyoming-Kentwood entry here rests on the core-based area holding any loan's county of project, using the July 2023 boundaries in force; each county were matched by name alone, and a loan whose county cannot be assigned is missing from each area list without exception. Then, named class or not, every approval in either program in the area is included within its $1.36 billion total.

What a study has to test in Grand Rapids-Wyoming-Kentwood

Within Grand Rapids-Wyoming-Kentwood, a study covering a property opens with the specific operator, not the average of the 3,883-loan file. In addition, local demand in Grand Rapids-Wyoming-Kentwood opens the work: will Grand Rapids-Wyoming-Kentwood's surrounding market support the receipts projected, set against rivals in areas such as Kent County? In addition, the area median comes to 0.48x measured against the nation's median, so typical tickets run small; an outsized request must make the case that its debt is serviceable. For context, coverage of debt service ties revenue to cost for Grand Rapids-Wyoming-Kentwood: projected operating income compared with the payments due, plus a weak-sales case. Here, the appraisal finishes the job on the Grand Rapids-Wyoming-Kentwood site: value as built has to cover the sum put forward. For context, an applicant carrying an outside feasibility study of Grand Rapids-Wyoming-Kentwood, prior to approaching the lenders above, addresses these rates before they are raised; the final word is with the bank and SBA in Grand Rapids-Wyoming-Kentwood, and a study cannot change that.