SBA Loans for Taxi Service in Michigan: Top Lenders
NAICS 485NAICS 485 covers taxi service businesses in Michigan. Based on historical SBA 7(a) lending data.
Total Approvals
6
in Michigan
Median Loan Size
$93,500
per approval
Recent Activity
0
last 90 days through Aug 2024
NAICS 485 covers taxi service businesses. This is a smaller category in SBA 7(a) lending with 6 approvals on record and a median loan size of $93,500.
Key trends & insights
- Taxi Service in Michigan lending is concentrated — 1ST State Bank, THE Huntington National Bank, Keybank, National Association together account for 83% of all approvals. If you're in this industry, these are your highest-probability lenders.
- 1ST State Bank leads this industry with 2 approvals (33% market share) and a median loan of $195,000.
- Taxi Service in Michigan loans skew smaller than the SBA average at $93,500 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
- SBA data for this industry goes through 2024-08-27 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Taxi Service in Michigan
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 2 | $195,000 | |
| 2 | 2 | $267,500 | |
| 3 | 1 | $25,000 | |
| 4 | 1 | $95,000 |
Recent SBA 7(a) approvals for Taxi Service in Michigan
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-08 | 1st State Bank | Bey*****LLC | MOUNT PLEASANT, MI | $298,000 |
| 2024-08 | The Huntington National Bank | RIG*****LLC | LAKE ORION, MI | $500,000 |
| 2024-04 | Celtic Bank Corporation | Pea*****LLC | Taylor, MI | $95,000 |
| 2023-07 | The Huntington National Bank | STR*****LLC | Farmington Hills, MI | $53,200 |
| 2023-06 | KeyBank National Association | Lav*****LLC | Detroit, MI | $25,000 |
| 2023-05 | The Huntington National Bank | STR*****LLC | Farmington Hills, MI | $35,000 |
| 2022-02 | Bank Michigan | Gol*****nc. | Milan, MI | $2,573,500 |
| 2020-08 | 1st State Bank | Bey*****LLC | ALMA, MI | $92,000 |
| 2020-08 | The Huntington National Bank | NON*****LLC | Jackson, MI | $50,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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