Quick Service Restaurant Feasibility Study in the Grand Rapids-Wyoming-Kentwood, MI Metro Area

87 limited-service restaurant loans in Grand Rapids, MI

Against the limited-service restaurant class nationally and the Grand Rapids, MI area overall, its loan size is the Grand Rapids, MI departure. SBA's loan files count 87 approved limited-service restaurant loans in Grand Rapids, MI from FY2017 to FY2026, $28.0 million in gross approvals. The median loan is $189,600, with the middle half running $50,000 through $350,500. Against the class nationally, Grand Rapids-Wyoming-Kentwood's median is 0.61x of the national median, below it.

Where Grand Rapids stands, 2 of 39 in class

Counts for 7(a) and 504 are withheld in Grand Rapids: one side rests on too few loans to print, and withheld is not zero. The franchise share, 41.4%, shows how much of the Grand Rapids class is branded. Among metro and micro areas, Grand Rapids, MI is 47 of 779 for limited-service restaurant; inside Grand Rapids, the class itself is 2 of 39. 0.67x is the Grand Rapids quotient: the class takes less of Grand Rapids lending than it does nationwide, a gap that could mean room to grow or a warning. The record sits in Kent County, MI, with 62 loans, and Ottawa County, MI, with 20.

Who holds the 87 Grand Rapids loans

Grand Rapids-Wyoming-Kentwood approvals were highest in FY2024 (13 loans, $2.8 million) and lowest in FY2022 (7 loans, $2.9 million). Grand Rapids, MI years with a handful of limited-service restaurant loans are held back from the series around Grand Rapids; held back is not zero. Under 7(a), SBA names these holders for limited-service restaurant: The Huntington National Bank with 43 loans for $5.2 million; Oxford Bank with 5 loans for $1.8 million. The 43 loans at The Huntington National Bank appear only because SBA lists it as holder, and the $5.2 million says nothing about lending standards. The Grand Rapids cancellation floor is 14.8%, while its ceiling is withheld, not zero. Grand Rapids-Wyoming-Kentwood keeps its charge-off rate back: the 87 loans include too few disbursed ones for the cohort, and the blank is no zero.

What a Grand Rapids-Wyoming-Kentwood study must test at $189,600

The Grand Rapids-Wyoming-Kentwood market test measures the daypart mix, delivery and pickup demand and drive-through and counter volume, trade area by trade area across Grand Rapids. On cost, the Grand Rapids study prices the pad or buildout, the equipment package and franchise-related outlays against Grand Rapids, MI lease terms and Grand Rapids contractors. Stress Grand Rapids cash flow with a $50,000 loan and a $350,500 loan, then check where coverage weakens. Grand Rapids-Wyoming-Kentwood appraisers will value the pad or building, franchise-dependent business value and the lease terms separately, and the Grand Rapids study should follow suit. The $28.0 million Grand Rapids, MI record is a benchmark here in Grand Rapids, not a forecast, and promises no Grand Rapids-Wyoming-Kentwood borrower approval.

Limits behind 87 Grand Rapids-Wyoming-Kentwood loans

By project county, Grand Rapids, MI claims 87 loans. Counties such as Kent County, MI join Grand Rapids by name under the July 2023 delineation. Grand Rapids, MI cancellation covers FY2017 to FY2024 approvals for Grand Rapids; charge-offs cover FY2017 to FY2021 disbursements.