SBA 504 Child Care Center Feasibility Study in Michigan

Size, rank and loan sizes of Michigan child care center loans under SBA 504

$25.6 million in gross dollars, spread over 39 loans in the 504 program for child care center projects in Michigan, is what SBA backed in Michigan from FY2017 to FY2026. Standing: 17 for the Michigan child care center (SBA 504) approvals, and 5 of 39 among Michigan's own asset classes. Representative size: $456,000. Against the national median for this loan type, Michigan comes in at 0.60x, which marks a lighter loan profile. Half of all Michigan loans fall from $251,500 to $896,000. The franchise share of Michigan loans is 28.2%. Across the 39 Michigan child care center loans, no figure, the $456,000 median included, beats both parent groups at once, which is why this page leans on Michigan's institutions, counties and years.

Who lends, where and when in Michigan

Among Michigan certified development companies, the top names here are Michigan Certified Development Corporation (29 loans, $21.3 million) and Great Lakes Commercial Finance (8 loans, $2.3 million). Treat the 29 loans and $21.3 million for Michigan Certified Development Corporation with care: SBA lists each Michigan loan's present holder, so a Michigan lender in the list could have taken over a child care center note rather than writing it. Within Michigan, the counties with the most loans are Oakland with 11, Kalamazoo with 4, Wayne with 4 and Ottawa with 3. Timing tells a clear story for child care center in Michigan: approvals peaked at 6 loans, worth $5.1 million, in FY2017, and FY2026 brings 4 loans worth $1.5 million as the latest year shown.

Michigan: outcomes, read as minimums for child care center

A floor of 19.4% for cancellations, with the upper bound at 19.4%, describes FY2017 to FY2024 Michigan child care center approvals, and undisbursed loans add nothing. Among the 39 child care center loans, too few reached disbursement from FY2017 through FY2021 in Michigan to support a child care center charge-off rate, which is therefore withheld; read that gap as missing data, not as a zero. Institutions needs to take these Michigan rates, drawn from 39 loans, as minimums, never as final results. One coding limit shapes Michigan child care center numbers: a Michigan home daycare provider or an institutional facility look the same here, because the same code holds each.

The tests an SBA 504 child care center study in Michigan must pass

In Michigan, two debts sit behind each of the 39 504 child care center projects: one from a Michigan certified development company, one from a separate Michigan lender. A child care center study must demonstrate that the owned child care center property and its equipment can service both, with Michigan equity from the borrower. A Michigan child care center feasibility study must test existing capacity against demand plus local tuition level. State licensing rules for room ratios, playgrounds and security features shape child care center budgets in Michigan. Debt service coverage for Michigan child care center should be shown at the $456,000 median and again near $896,000, the top end of the Michigan middle half, with a weaker child care center scenario next to both. An appraisal must test fill ramp-up against staffing ratios, and the study gives each. Lenders such as Michigan Certified Development Corporation appear in this Michigan record; the record is history, and what Michigan Certified Development Corporation or any other Michigan lender wants from a child care center study is its own to say.

Take the Michigan child care center history above, 39 loans, as background: a child care center study from Loan Analytics for Michigan, signed by Daniel Smith, MAI, for child care center, handles the site-specific Michigan testing, and nothing here assures Michigan approval of a child care center loan.