All Other Specialty Trade Contractors acquisitions in Michigan: SBA loan data
Since FY2018, SBA lenders have approved 19 7(a) loans to buy an existing business classified as All Other Specialty Trade Contractors in Michigan, totaling $23.1M. The median loan was $733,000. That is 1.1% of the 1,680 acquisition loans in Michigan.
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How this compares
The median All Other Specialty Trade Contractors loan in Michigan is 25% higher than the $585,000 median for all Michigan acquisitions, and 9% higher than the $673,500 median for All Other Specialty Trade Contractors acquisitions nationwide (884 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 4.2% of seasoned All Other Specialty Trade Contractors acquisition loans were charged off, and 1.8% of seasoned Michigan acquisition loans of any type.
All Other Specialty Trade Contractors acquisition loans in Michigan by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 2 | $522K | $261,200 | |
| FY2020 | 1 | $4.9M | $4,882,000 | |
| FY2021 | 3 | $2.3M | $755,000 | |
| FY2022 | 1 | $2.4M | $2,400,000 | |
| FY2023 | 1 | $1.5M | $1,500,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 7 | $4.7M | $500,000 | |
| FY2026 | 4 | $6.8M | $1,526,200 |
How often do these acquisition loans fail?
Fewer than 20 All Other Specialty Trade Contractors in Michigan acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 4 | 21.1% | $2.4M | |
| 2 | Old National Bank | 3 | 15.8% | $2.7M | |
| 3 | Fifth Third Bank | 2 | 10.5% | $5.6M | |
| 4 | Byline Bank | 2 | 10.5% | $3.8M | |
| 5 | WesBanco Bank, Inc. | 2 | 10.5% | $1.1M |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for All Other Specialty Trade Contractors acquisitions in Michigan run?
The median SBA 7(a) loan was $733,000 across 19 loans (FY2018 to FY2026). The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance All Other Specialty Trade Contractors acquisitions in Michigan?
The Huntington National Bank (4), Old National Bank (3), Fifth Third Bank (2), Byline Bank (2), WesBanco Bank, Inc. (2).
How often do All Other Specialty Trade Contractors acquisition loans fail in Michigan?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of All Other Specialty Trade Contractors acquisitions in Michigan?
1 of the 19 loans (5%) involved a franchise brand.
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Small samples move a lot: each loan in this combination is 5% of the count. Industry is the NAICS code the lender recorded. See the methodology.