Feasibility Study Data for the Petoskey, MI Micro Area

Petoskey, MI: reading the area whole

Petoskey, MI is a micropolitan area, and its 138 SBA approvals in FY2017 to FY2026 carried $50.4 million in gross dollars. Petoskey counts as a mid-table area, ranked 392 of 928 by loans. Petoskey is read whole, every class counted. A slice of MI is not how Petoskey is treated.

$50,000 to $350,000 spans the middle half of Petoskey loans, and $115,500 is the median. Petoskey sits well below the national level: its 0.56x ratio to the national median means Petoskey requests sized nationally may look large. Petoskey counts 129 loans under 7(a) and 9 under 504, so 7(a) carries the Petoskey mix. Petoskey franchised businesses took 4.3% of loans, so a branded concept in Petoskey needs a brand-cost check in Petoskey.

Classes, counties and lenders in Petoskey

Petoskey: full-service restaurant (18 loans); limited-service restaurant (9 loans) head the tracked-class list. The 88 loans in no tracked class keep Petoskey totals from reading as pure property; much Petoskey borrowing funds operating businesses. Petoskey counts by county run 138 loans in Emmet County, MI; a Petoskey study should say which it covers. The Huntington National Bank ($17.0 million, 72 loans); Citizens National Bank of Cheboygan ($4.2 million, 13 loans); Fifth Third Bank ($3.5 million, 7 loans) lead 7(a) lending in Petoskey. The Huntington National Bank's 72 loans, like every Petoskey lender figure, are an SBA record of Petoskey loans held or once held. No Petoskey lender is judged by these counts.

The Petoskey series opens at 7 loans in FY2017 and closes at 14, higher than the start; its high is 22 loans ($8.0 million) in FY2025, its low 7 in FY2017. Petoskey cancellations stand at 7.8%, a floor, for Petoskey approvals in FY2017 to FY2024; Petoskey's ceiling is withheld, never zero in Petoskey. A charge-off floor for Petoskey would rest on a thin cohort of 138 loans, so Petoskey withholds it; withheld is not zero. Petoskey faces a geography limit: Petoskey, MI uses the July 2023 definition; 138 loans are matched by county, and unplaceable Petoskey loans are omitted, so Petoskey counts and rates are floors.

Petoskey: testing a project

For Petoskey, a study tests Petoskey demand within a defined trade area, since Emmet County, MI dominates Petoskey loan counts. If a Petoskey concept resembles full-service restaurant, Petoskey offers size and lender precedent; other Petoskey concepts must rest on their own Petoskey evidence. The Petoskey cost section uses local quotes; run Petoskey debt service coverage for loans near $115,500 and near $350,000. Petoskey is micropolitan, so sales are sparse; the Petoskey appraisal must state its reach in Petoskey, MI. The Petoskey record frames questions, and each lender in Petoskey decides on its own.