Worked Example: SBA 7(a) Assisted Living Feasibility Study in Utah
A worked example of the feasibility study a lender would read for an assisted living project in Utah, financed with an SBA 7(a) loan.
Assisted Living Feasibility Study in the Salt Lake City-Murray, UT Metro Area
What SBA's own loan files show about assisted living (without nursing care) lending in the Salt Lake City-Murray, UT Metro Area, and what a feasibility study for a project there has to test.
Salt Lake City-Murray: assisted living lending
Across Salt Lake City-Murray, in FY2017 through FY2026, SBA logged 33 assisted living loans, totalling $62.5 million in gross dollars. Inside Salt Lake City-Murray, assisted living lending stands 10 of 39 against every other class here; Salt Lake City-Murray sits at 16 of 321 in every metro and micro area ranked by assisted living loans. Salt Lake City-Murray's 1.67x location quotient gives assisted living more weight locally. A typical Salt Lake City-Murray loan, measured by the median, comes to $992,000. The middle half of Salt Lake City-Murray loans spans $597,000 to $3.2 million, and the median is 1.31x of the nationwide class median. With a location quotient of 1.67x, assisted living carries more weight in Salt Lake City-Murray than in the national book, and the area stands 16 of 321 for the class. The median of $992,000 is 1.31x the class median nationally, and franchise-affiliated homes form 36.4% of the record, a feature of this cell worth noting for a borrower choosing between an affiliated and an independent model.
By program in Salt Lake City-Murray, 25 loans are SBA 7(a), beside 8 under SBA 504. Franchised units represent 36.4% of the Salt Lake City-Murray loan count. Among the Salt Lake City-Murray holders Mountain America FCU is the holder of 12 SBA 7(a) loans, $15.0 million in all. Salt Lake City-Murray's lender entries record current holders only. Salt Lake City-Murray borrowers gain no evidence of bank requirements here.
Salt Lake City-Murray: years, floors and limits
Salt Lake City-Murray gives a short run of years: FY2017 has 6 loans valued at $6.6 million; FY2021 has 5 loans valued at $14.0 million. The Salt Lake City-Murray years not shown: FY2018 to FY2020 and FY2022 to FY2026. Those Salt Lake City-Murray years differ from none. A cancellation rate for Salt Lake City-Murray: held back, under 30 loans in all. The charge-off rate in Salt Lake City-Murray: withheld, fewer than 30 loans. Salt Lake City-Murray's minimum is Loan Analytics' own. Salt Lake City-Murray's FY2017 to FY2021 cohort is too small. The July 2023 list defines Salt Lake City-Murray. Salt Lake City-Murray admits a loan only by its county. Salt Lake City-Murray leaves out unmatched loans. Salt Lake City-Murray counts assisted living without on-site nursing. Salt Lake City-Murray: that kind alone has its own code. Salt Lake City-Murray memory care has no code, and Salt Lake City-Murray homes with nursing sit in other classes.
Salt Lake City-Murray: what to test
A Salt Lake City study for a care home has to show the residents who can pay, how far they will travel and how the home's licensed capacity fills after opening. It should price construction or conversion against a median near $992,000, include staffing and the rate structure, and show payment coverage once the census settles, with a slower lease-up case beside it. Because the class excludes homes with nursing, a project that adds nursing belongs in a different class.
SBA assisted living (without nursing care) loans in the Salt Lake City-Murray, UT Metro Area
| Loans approved, FY2017 to FY2026 | 33 |
|---|---|
| Gross dollars approved | $62.5 million |
| Median loan | $992,000 |
| Middle half of loans, from | $597,000 |
| Middle half of loans, to | $3.2 million |
| SBA 7(a) loans | 25 |
| SBA 504 loans | 8 |
| Franchise share of loans | 36.4% |
| Rank among metro and micro areas for assisted living (without nursing care) loans | 16 of 321 |
| Rank of assisted living (without nursing care) among the classes in this area | 10 of 39 |
| Location quotient (share of loans against the national share) | 1.67x |
| Median loan against the national median for the class | 1.31x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | not reported: fewer than 30 loans in the cohort |
|---|---|
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | withheld |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
SBA assisted living (without nursing care) loans approved in the Salt Lake City-Murray, UT Metro Area, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 6 | $6.6 million |
| FY2018 | withheld | withheld |
| FY2019 | withheld | withheld |
| FY2020 | withheld | withheld |
| FY2021 | 5 | $14.0 million |
| FY2022 | withheld | withheld |
| FY2023 | withheld | withheld |
| FY2024 | withheld | withheld |
| FY2025 | withheld | withheld |
| FY2026 | withheld | withheld |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| Mountain America FCU | 12 | $15.0 million |
Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.
Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.
Only assisted living without on-site nursing has its own code; memory care has none. Assisted living with nursing is counted in the skilled nursing and continuing care retirement community classes.
Shared code: Assisted living WITH nursing is indexed to 623110 and 623311.
A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MA-41620-C05.
Related feasibility study pages
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- Feasibility Study Data for the Salt Lake City-Murray, UT Metro Area
- Assisted Living Feasibility Study in Utah
- Utah feasibility study consultant
- Feasibility Study Data by Metro Area
- SBA feasibility study company
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Worked examples
Loan Analytics prepares the feasibility study a lender reads before it commits: for a assisted living (without nursing care) project in the Salt Lake City-Murray, UT Metro Area, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.
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