Marinas: SBA business acquisition loan data
29 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Marinas (NAICS 713930), totaling $56.1M. Median loan $1,372,500, 113% higher than the all-acquisition median.
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $3,357,200 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.1% of all SBA-financed business purchases, ranking #241 of 300 industries tracked.
- Geography. Michigan leads with 4 loans; the top five states account for 48% of the industry's acquisitions.
- Jobs. Lenders reported 413 jobs supported across these loans, about 14.2 per acquisition, a rough proxy for the size of business changing hands.
Marinas acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 7 | $6.4M | $518,500 | |
| FY2019 | 2 | $8M | $3,993,000 | |
| FY2020 | 6 | $13.2M | $2,571,450 | |
| FY2021 | 7 | $13.2M | $1,372,500 | |
| FY2022 | 3 | $9.4M | $3,621,000 | |
| FY2023 | 1 | $3M | $2,950,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $2.9M | $466,400 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Of the 22 Marinas acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 14 have already been paid in full.
For comparison, Marinas has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
The purchase agreement decides what you bought, not the loan approval.
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Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Michigan | 4 | 13.8% | $2.7M | |
| 2 | Arkansas | 3 | 10.3% | $4.7M | |
| 3 | Indiana | 3 | 10.3% | $597K | |
| 4 | Tennessee | 2 | 6.9% | $8.3M | |
| 5 | Missouri | 2 | 6.9% | $5.5M | |
| 6 | Oregon | 2 | 6.9% | $3.7M | |
| 7 | New York | 2 | 6.9% | $700K | |
| 8 | Kansas | 1 | 3.4% | $4.7M | |
| 9 | New Jersey | 1 | 3.4% | $4.2M | |
| 10 | South Carolina | 1 | 3.4% | $3.6M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 4 | 13.8% | $2.6M | |
| 2 | Live Oak Banking Company | 2 | 6.9% | $3.7M | |
| 3 | FNBC Bank | 2 | 6.9% | $3.5M | |
| 4 | STAR Financial Bank | 2 | 6.9% | $170K | |
| 5 | Genisys CU | 1 | 3.4% | $4.8M | |
| 6 | Great Southern Bank | 1 | 3.4% | $4.7M | |
| 7 | Simmons Bank | 1 | 3.4% | $4.7M | |
| 8 | Centerstone SBA Lending, Inc. | 1 | 3.4% | $4.2M | |
| 9 | First Horizon Bank | 1 | 3.4% | $3.6M | |
| 10 | Georgia Banking Company | 1 | 3.4% | $3.6M |
That draft favors the seller. We review it for the buyer, line by line.
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Questions buyers ask
How much is a typical SBA loan to buy a business in Marinas?
Median $1,372,500 across 29 acquisition loans (FY2018 to FY2026); the middle half ran $450,000 to $3,357,200. That is 113% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Marinas acquisitions?
The Huntington National Bank (4), Live Oak Banking Company (2), FNBC Bank (2), STAR Financial Bank (2), Genisys CU (1).
Are businesses in Marinas often franchised?
Rarely. Only 0% of acquisition loans in this industry involved a franchised business; most are independent operators.
How risky are SBA loans for buying a business in Marinas?
Of 22 seasoned loans (FY2018 to FY2021), none charged off, against the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Marinas acquisitions?
Median term 20 years, average initial rate 6.13% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
Seller note standby terms and third-party consents are reviewed before closing.
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