Feasibility Study Data for the Bloomington, IL Metro Area

Bloomington lending, in outline

For Bloomington, SBA shows $99.0 million on 175 loans, FY2017 to FY2026. By loan count, Bloomington stands 342 of 928 among all areas. Bloomington loans center on $334,000, the median. Bloomington middle half: $125,000 to $631,500. Set beside the nation, Bloomington stands at 1.61x. By program, Bloomington has 139 7(a) loans and 36 504 loans. 13.7% of the loans in Bloomington carry a franchise brand. $99.0 million is the Bloomington dollar total.

Bloomington: which classes and counties lead

In Bloomington, the tracked classes lead with limited-service restaurant (10), hotel and motel (8), and dental office (5). Fourth in Bloomington is child care center, with 5 loans. 123 Bloomington loans sit in no tracked class. Most Bloomington credit is general business lending. Bloomington consists of McLean County, IL, where SBA places 175 loans.

Bloomington: lenders in the record

SBA lists the current holder of each Bloomington loan; the originator may differ. Bloomington 7(a) holders include 13 loans at Busey Bank ($18.5 million) and 9 loans at Northeast Bank (ME) ($1.3 million). Bloomington lists, for 504, Small Business Growth Corporation with 23 loans ($13.7 million) and SomerCor 504, Inc. with 13 loans ($9.2 million). A Bloomington borrower reads these rows as context. No Bloomington row recommends any institution.

Bloomington: floors, and what is withheld

Bloomington cancellation, FY2017 to FY2024 approvals: 11.3%. It is a floor for Bloomington. Treating undisbursed Bloomington loans as cancelled gives 14.8%, the ceiling. A rate needs more Bloomington disbursed loans. Bloomington charge-offs are withheld, not zero. Bloomington rates are floors. Loans season, and Bloomington events can still raise them. Bloomington loans are placed by county name. For Bloomington, the July 2023 list governs. Bloomington omits loans with no county match. The Bloomington total includes loans outside the classes.

Bloomington: what a study has to test

The Bloomington trend peaks in FY2021 with 21 loans ($11.0 million) and bottoms in FY2026 with 15 ($6.3 million). The first year, FY2017, shows 16 loans and $7.5 million for Bloomington. The latest year, FY2026, shows 15 loans and $6.3 million for Bloomington. A Bloomington study weighs local demand against McLean County, IL competitors, not national patterns. The Bloomington budget is priced against a $334,000 median. Bloomington sits at 1.61x nationally; site, build and equipment all count. Debt service in Bloomington is tested downside first. Bloomington lenders read the floors above. Bloomington value is tested against cost by appraisal. Bloomington comparables decide how. Sources and uses in Bloomington must tie to bids near McLean County, IL. Beside McLean County, IL findings, the Bloomington study lists what it could not test.