Fitness and Recreational Sports Centers acquisitions in Michigan: SBA loan data
Since FY2018, SBA lenders have approved 21 7(a) loans to buy an existing business classified as Fitness and Recreational Sports Centers in Michigan, totaling $6.8M. The median loan was $188,500. That is 1.3% of the 1,680 acquisition loans in Michigan.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How this compares
The median Fitness and Recreational Sports Centers loan in Michigan is 68% lower than the $585,000 median for all Michigan acquisitions, and 37% lower than the $298,450 median for Fitness and Recreational Sports Centers acquisitions nationwide (646 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 9.8% of seasoned Fitness and Recreational Sports Centers acquisition loans were charged off, and 1.8% of seasoned Michigan acquisition loans of any type.
Fitness and Recreational Sports Centers acquisition loans in Michigan by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $76K | $75,600 | |
| FY2019 | 2 | $721K | $360,500 | |
| FY2020 | 5 | $3.2M | $275,000 | |
| FY2021 | 2 | $380K | $190,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 3 | $1M | $188,500 | |
| FY2025 | 2 | $600K | $300,000 | |
| FY2026 | 6 | $840K | $155,700 |
How often do these acquisition loans fail?
Fewer than 20 Fitness and Recreational Sports Centers 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.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 10 | 47.6% | $1.6M | |
| 2 | Live Oak Banking Company | 5 | 23.8% | $1.9M | |
| 3 | Byline Bank | 1 | 4.8% | $2.1M | |
| 4 | Horizon Bank | 1 | 4.8% | $500K | |
| 5 | Old National Bank | 1 | 4.8% | $270K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Anytime Fitness | 6 | 28.6% | $3.8M | |
| 2 | Orange Theory Fitness | 2 | 9.5% | $228K | |
| 3 | Pure Barre | 2 | 9.5% | $153K | |
| 4 | Snap Fitness | 1 | 4.8% | $76K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do SBA loans for Fitness and Recreational Sports Centers acquisitions in Michigan run?
The median SBA 7(a) loan was $188,500 across 21 loans (FY2018 to FY2026), with the middle half between $100,000 and $350,000. 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 Fitness and Recreational Sports Centers acquisitions in Michigan?
The Huntington National Bank (10), Live Oak Banking Company (5), Byline Bank (1), Horizon Bank (1), Old National Bank (1). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Fitness and Recreational Sports Centers 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 Fitness and Recreational Sports Centers acquisitions in Michigan?
13 of the 21 loans (62%) involved a franchise brand, most often Anytime Fitness (6).
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Michigan acquisitions
- Financing one? How to get an SBA loan to buy a fitness center
- Fitness and Recreational Sports Centers nationally
- Fitness and Recreational Sports Centers in Texas
- Fitness and Recreational Sports Centers in Georgia
- Fitness and Recreational Sports Centers in Florida
- Fitness and Recreational Sports Centers in New York
- Fitness and Recreational Sports Centers in New Jersey
- Fitness and Recreational Sports Centers in Virginia
- Fitness and Recreational Sports Centers in Minnesota
- Fitness and Recreational Sports Centers in Washington
- Beer, Wine, and Liquor Retailers in Michigan
- Full-Service Restaurants in Michigan
- Limited-Service Restaurants in Michigan
- Hotels and Motels in Michigan
- Plumbing, Heating, and Air-Conditioning Contractors in Michigan
- Landscaping Services in Michigan
- General Automotive Repair in Michigan
- Offices of Chiropractors in Michigan
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.