Beauty Salon Feasibility Study in the Portland-South Portland, ME Metro Area

Portland-South Portland: beauty salon lending

Across Portland-South Portland, from FY2017 through FY2026, SBA approved 31 beauty salon loans, worth $5.0 million in gross approvals. In Portland-South Portland, beauty salon lending comes in at 9 of 39 in the local class table, while Portland-South Portland stands at 51 of 546 among metro and micro areas on beauty salon loans. At 1.10x, Portland-South Portland's location quotient puts beauty salon above the nation. A typical Portland-South Portland loan, measured by the median, is $80,000. The middle half of Portland-South Portland loans spans $25,000 to $201,500, and the median comes to 0.80x of the nationwide class median. Portland-South Portland loans for salons are small: the median of $80,000 sits at 0.80x of the class median nationally, and half the loans run no higher than $201,500. The cell still ranks 9 of 39 among the area's asset classes. In the SBA 504 table, a development corporation holds 7 loans worth $2.1 million, a larger dollar total than either bank named under SBA 7(a).

Of Portland-South Portland's 31 loans, 24 are SBA 7(a), 7 SBA 504. The Portland-South Portland franchise rate is withheld. In the Portland-South Portland holder tables 7 SBA 504 loans worth $2.1 million are held by Granite State Economic Development Corporation, and the SBA 7(a) table lists Kennebunk Savings Bank at $899,000 over 5 loans, and 5 SBA 7(a) loans worth $140,000 are held by Manufacturers and Traders Trust Company. Portland-South Portland's holder lines list today's holders only. Portland-South Portland applicants get no signal of institution requirements from them. County by county: Cumberland County, ME has 17 loans; York County, ME has 14 loans.

Portland-South Portland: years, floors and limits

For Portland-South Portland, only some years can be printed: FY2023 has 6 loans worth $465,800. The Portland-South Portland years not shown: FY2017 to FY2022 and FY2024 to FY2026. Those Portland-South Portland years do not mean none. The Portland-South Portland cancellation rate: suppressed, fewer than 30 loans. A charge-off rate for Portland-South Portland: held back, under 30 loans. Portland-South Portland uses Loan Analytics' own minimum. Portland-South Portland has a short FY2017 to FY2021 cohort. Portland-South Portland sits on the 2023 July list. Portland-South Portland admits a loan solely by its county. Portland-South Portland omits unmatched loans.

Portland-South Portland: what to test

Portland-South Portland salon operators weighing a loan near $80,000 should expect a proportionate study: how many stations the room holds, which stylists rent or are employed, and what retail sales add to service income. The lease terms and the fit-out cost need to be tested against the revenue each station must produce. Show the opening months as slow. Because a leased salon holds little real estate for an appraiser to value, lenders will want the income documented month by month.