Feasibility Study Data for the Midland, MI Metro Area

How big the Midland record is

For Midland, the agency's approval files list 155 approved loans over FY2017 through FY2026, totalling $57.0 million of gross dollars. Midland sits across the whole list of areas, on volume, number 364 of 928. The central half of Midland approvals spans $50,000 to $350,000, with a middle figure of $141,000; that puts the median at 0.68x the national median. Around Midland County, MI, SBA 7(a) holds 142 loans, and 13 under SBA 504. Franchises make up 12.3% of the loans.

Midland: who and where

Further, of the business classes we break out for Midland, full-service restaurant is largest with 10 loans, and then limited-service restaurant (9) and assisted living, 5 loans. A further 105 loans in Midland fall outside the classes. Every loan in Midland sits in Midland County, MI, at 155 loans, so a feasibility study around Midland a single-county exercise.

Midland: institutions behind approvals

Lenders listed for Midland are found in SBA's public Midland records of the 155 approvals in Midland, by present or former holder; such records tie each file though settle nothing about lender underwriting. Next, for 7(a) lending in Midland, SBA lists The Huntington National Bank (64 loans, $12.4 million); after it, Horizon Bank (10 loans, $5.3 million). An applicant in Midland can ask the Midland lender The Huntington National Bank or other Midland holders near Midland County, MI what paperwork it expects, then shape the Midland study to satisfy those answers.

Midland: loss floors and years

Among Midland approvals from FY2017 to FY2024, at least 11.8% ended in cancellation after approval in Midland, which is a floor; the full Midland share is no lower. Worth noting, the charge-off rate around Midland County, MI is left blank on the page, since too few Midland loans funded. That absence, across Midland, is not to be taken as no losses. Notably, across the years, Midland was strongest in FY2020 at 23 loans and $15.3 million, and bottomed out in FY2017 at 7 loans and $1.8 million.

Midland: what a study tests

Around Midland County, MI, demand comes first: who lives in Midland County, MI, who travels in, how that compares with Midland overall, and whether the 10 full-service restaurant loans leave room. Cost: $141,000 is the Midland median and $50,000 to $350,000 the central range, so a Midland County, MI site should cost itself against that $141,000 benchmark. Coverage: Midland cash flow outlasts a sluggish year against with the 11.8% rate of cancellation and the charge-off floor for Midland, which is also suppressed since the cohort is thin. An appraisal in Midland needs to agree with the value lent against. Midland adopts the 2023 July area map; a case whose home county finds no place is missing from all areas, Midland as well, whereas the totals cover loans outside the classes named.