Supermarkets and Other Grocery Retailers acquisitions in Michigan: SBA loan data
Since FY2018, SBA lenders have approved 30 7(a) loans to buy an existing business classified as Supermarkets and Other Grocery Retailers in Michigan, totaling $36.1M. The median loan was $907,500. That is 1.8% of the 1,680 acquisition loans in Michigan.
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How this compares
The median Supermarkets and Other Grocery Retailers loan in Michigan is 55% higher than the $585,000 median for all Michigan acquisitions, and 43% higher than the $634,600 median for Supermarkets and Other Grocery Retailers acquisitions nationwide (465 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 3.9% of seasoned Supermarkets and Other Grocery Retailers acquisition loans were charged off, and 1.8% of seasoned Michigan acquisition loans of any type.
Supermarkets and Other Grocery Retailers acquisition loans in Michigan by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 3 | $2.3M | $216,300 | |
| FY2020 | 4 | $5.2M | $1,133,500 | |
| FY2021 | 5 | $5.8M | $1,140,000 | |
| FY2022 | 4 | $5.9M | $854,950 | |
| FY2023 | 2 | $615K | $307,650 | |
| FY2024 | 4 | $8.9M | $1,853,700 | |
| FY2025 | 4 | $3.7M | $682,900 | |
| FY2026 | 4 | $3.7M | $969,450 |
How often do these acquisition loans fail?
Fewer than 20 Supermarkets and Other Grocery Retailers 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 | 6 | 20.0% | $10.1M | |
| 2 | Fifth Third Bank | 3 | 10.0% | $6.2M | |
| 3 | United FCU | 3 | 10.0% | $2.6M | |
| 4 | Byline Bank | 2 | 6.7% | $2.1M | |
| 5 | IncredibleBank | 2 | 6.7% | $2.1M |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for Supermarkets and Other Grocery Retailers acquisitions in Michigan run?
The median SBA 7(a) loan was $907,500 across 30 loans (FY2018 to FY2026), with the middle half between $385,675 and $1,616,750. 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 Supermarkets and Other Grocery Retailers acquisitions in Michigan?
The Huntington National Bank (6), Fifth Third Bank (3), United FCU (3), Byline Bank (2), IncredibleBank (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Supermarkets and Other Grocery Retailers 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 Supermarkets and Other Grocery Retailers acquisitions in Michigan?
3 of the 30 loans (10%) involved a franchise brand.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Michigan acquisitions
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Small samples move a lot: each loan in this combination is 3% of the count. Industry is the NAICS code the lender recorded. See the methodology.