ILLINOIS · NAICS 713930
Illinois marina and boat storage projects run across Lake Michigan harbors and the Chain O'Lakes recreational corridor, where winterized boat storage carries the off-season model. Studies translate slip mix, dry storage, fuel and service revenue, and seasonal demand into defensible projections, and resolve environmental and shoreline regulatory exposure.
FEASIBILITY TRIGGER
Marinas are special-purpose under SOP 50 10 8, so a third-party feasibility study is normally required with an industry-experienced going-concern appraiser, and elevated equity applies.
SBA 7(a) and 504 lenders funded 17 marina and boat storage projects across Illinois between FY2010 and FY2026, moving $11.6 million in approved capital at an average ticket of $681,000. That volume places Illinois at #4 of 38 states measured for marina and boat storage SBA activity, or 2.8% of national marina and boat storage dollars. The 7(a) program carried 76.5% of the loan count, with 504 taking the balance, and 4 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 17 |
| Approved volume | $11.6 million |
| Average loan size | $681,000 |
| 7(a) share | 76.5% |
| Approvals since FY2024 | 4 |
| State rank by loan count | #4 of 38 |
The state-level seasoned cohort in this segment is below our publication threshold of 30 loans, so no state rate is shown. Nationally, seasoned marina and boat storage loans (approvals FY2010–FY2021) show an adverse-resolution rate of 3.0%, against 7.3% across all industries.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 3.0%, close to the national marina and boat storage benchmark of 3.0%, puts Illinois deals in this class on ordinary SBA credit footing. Across 17 loans averaging $681,000, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every Illinois marinas and boat storage project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Illinois projects often fit SBA 504 where owner-occupied real estate anchors the deal, with the 50/40/10 structure delivering up to 90 percent financing at a fixed debenture rate, while SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Lake Michigan harbors and the Chain O'Lakes anchor seasonal demand where winterized boat storage carries the off-season model.
For a national view of this asset class, see our marina and boat storage SBA feasibility overview, and read our related analysis in the marina and boat storage lending research on our blog.
Public SBA and CDC program records, cited as program evidence
SBA 504 acquisition through PeopleFund
Lakefront resort and marina, national program evidence
Sunrise Beach, Llano County, Texas
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
Book a MeetingOur SBA feasibility study consultants prepare storage and vehicle storage studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
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