Feasibility Study Data for the Traverse City, MI Metro Area

Traverse City, MI: reading the area whole

Traverse City, MI is a metropolitan area, and its 687 SBA approvals in FY2017 to FY2026 carried $278.8 million in gross dollars. Traverse City is distinctive on size first: a $165,800 median loan, 0.80x the national median, outside our margin. Traverse City, MI departs nationally on losses: across 687 loans, the charge-off floor below for Traverse City sits outside our margin. Traverse City counts as an upper-tier area, ranked 137 of 928 by loans. In Traverse City, MI, every asset class is pooled for Traverse City. That view of Traverse City is missing from MI and national tables.

A Traverse City median loan of $165,800 sits inside a middle half of $58,500 to $415,000. Outside data makes Traverse City requests look heavy; at 0.80x, Traverse City is below the national level. Traverse City: 7(a) leads the mix, with 540 7(a) loans against 147 under 504. Traverse City franchise loans reach 8.0%, so brand standards often shape a Traverse City request there.

Classes, counties and lenders in Traverse City

Tracked classes in Traverse City, with loan counts: full-service restaurant 40, hotel and motel 19, automotive mechanical repair 17, limited-service restaurant 16. 513 Traverse City loans sit outside the tracked classes, so Traverse City operating businesses show up in these totals. Traverse City counts by county run 496 loans in Grand Traverse County, MI, 108 loans in Leelanau County, MI, and 48 loans in Benzie County, MI; a Traverse City study should say which it covers. Traverse City 7(a) leaders: The Huntington National Bank ($50.3 million, 247 loans); Honor Bank ($12.1 million, 38 loans); Nicolet National Bank ($21.6 million, 36 loans). Traverse City 504 lending is led by 111 loans at Great Lakes Commercial Finance ($49.3 million); 36 loans at Michigan Certified Development Corporation ($22.7 million). Traverse City lender figures, The Huntington National Bank's 247 loans included, are an SBA record of Traverse City loans held or once held; no Traverse City lender is judged by them.

Traverse City goes from 77 loans in FY2017 to 36 in FY2026, ending lower: the peak was 94 in FY2021, and the trough 36 in FY2026. A Traverse City borrower should know the cancellation record: 9.5% as a floor and 10.9% as a ceiling, for FY2017 to FY2024 Traverse City approvals. Of the 353 loans in the Traverse City cohort for FY2017 to FY2021, 1.7% are charged off, a floor. The Traverse City five-year loss figure is withheld; Traverse City cannot read it as zero. Traverse City faces a geography limit: Traverse City, MI uses the July 2023 definition; 687 loans are matched by county, and unplaceable Traverse City loans are omitted, so Traverse City counts and rates are floors.

Traverse City: the study questions

A Traverse City feasibility study begins with Traverse City demand from the right counties: Grand Traverse County, MI leads the loan counts, though Traverse City is wider. If a Traverse City concept resembles full-service restaurant, Traverse City offers size and lender precedent; other Traverse City concepts must rest on their own Traverse City evidence. Test Traverse City coverage of debt service on a $165,800 loan, and on a $415,000 loan, after pricing Traverse City costs from bids. Traverse City appraisals compare within one submarket of Traverse City, MI, not across averages. Nothing printed for Traverse City predicts approval; each Traverse City lender still reviews a study.