Feasibility Study Data for the Muskegon-Norton Shores, MI Metro Area

Muskegon-Norton Shores is Muskegon County alone, with 358 SBA approvals for FY2017 to FY2026 and $155.2 million gross, rank 206 of 928; 331 are 7(a) and 27 are 504. Muskegon puts its median at $150,000. Muskegon is 0.72x the national figure. For Muskegon, half of loans run $50,000 to $548,175. Brands hold 11.5% of the count.

Cars before hotels

Muskegon's second named class, automotive mechanical repair at 17 loans, sits just behind full-service restaurant at 21 and well ahead of limited-service restaurant at 12, then hotel and motel (8) and gas station and truck stop (7); 243 loans sit outside them. A repair shop study should test bay capacity, technician supply and how much value sits in equipment as against the building. Count was 38 loans and $12.8 million in FY2017, fell to 21 loans and $4.8 million in FY2019, peaked at 47 loans and $30.1 million in FY2021 and ended at 27 loans and $22.9 million in FY2026.

Who holds the Muskegon loans

The Huntington National Bank holds 190 loans and $44.3 million under 7(a), well ahead of Fifth Third Bank with 25 loans and $6.6 million and ChoiceOne Bank with 24 loans and $9.6 million. Michigan Certified Development Corporation holds 16 loans and $13.3 million on 504, and Great Lakes Commercial Finance 11 loans and $7.6 million. Muskegon holders are in SBA's records. Muskegon: each name holds or held loans. Muskegon counts describe volume, not lender practice, and Muskegon counts state no requirement.

Muskegon floors, and the study to order

Muskegon: cancelled after approval at least 10.3% of Muskegon's approvals. The Muskegon window is FY2017 to FY2024. Muskegon omits its ceiling; too few Muskegon loans back it. Muskegon charge-offs reached at least 3.1% across 161 funded loans. Muskegon withholds its five-year rate. Too few Muskegon loans support it. Open Muskegon loans may raise every Muskegon floor. Muskegon is a county roll-up. Muskegon applies the July 2023 delineation. Muskegon matches each county by name. Muskegon omits loans whose counties fail to place. Muskegon still counts approvals outside named classes. Muskegon work should size cost and revenue to modest tickets, run debt service on a weak year and take value from Muskegon County sales. Muskegon studies come from Loan Analytics. Muskegon studies are signed by Daniel Smith, MAI.