Feasibility Study Data for the Bloomington, IN Metro Area

The Bloomington record in brief

In Bloomington, the agency's approval files hold 189 approvals over FY2017 to FY2026, totalling $83.8 million in gross dollars. Bloomington stands against every other area in the files, ranked by approvals, at 325 of 928. The core of Bloomington lending falls between $100,000 and $466,100, beside a median near $225,800; so the median stands at 1.09x the nationwide median. By program, Bloomington shows 172 loans under 7(a) against 17 under 504. Franchises make up 10.6% of the record.

Bloomington: classes and counties

Separately, among the tracked classes for Bloomington, full-service restaurant heads the list with 13 loans, and then limited-service restaurant (11) and fitness center, 8 loans. Another 133 loans in Bloomington fall outside the classes. By county, Monroe County, IN leads with 171 loans, then Owen County, IN (18).

Bloomington: who holds loans

Lenders listed for Bloomington are lifted from SBA's archived Bloomington records of the 189 loans in Bloomington, carried at present or before; these entries tie each holding yet say nothing about any lender's terms. Notably, under 7(a) in Bloomington, the top names are German American Bank (33 loans, $6.2 million) and Old National Bank (18 loans, $7.7 million). Also, for 504 lending around Monroe County, IN, the list reads Premier Capital Corporation, holding 11 loans worth $8.3 million, ahead of Indiana Statewide Certified Development Corporation, with 6 loans for $2.5 million. Beyond that, a borrower near Monroe County, IN should confirm with any lender which documents it requires, then fit the Bloomington study to satisfy those requests.

Bloomington: outcomes and calendar

Looking at Bloomington approvals from FY2017 through FY2024, at least 10.5% were cancelled after approval in Bloomington, and that is a floor; the real Bloomington figure can only be higher. Next, Loan Analytics withholds the charge-off rate for Bloomington, because the cohort is under 30 loans. That gap, for Monroe County, IN, should never be read as zero losses. Next, year by year, Bloomington reached its high in FY2017 at 27 loans and $6.4 million, and fell to its low in FY2020 at 12 loans and $12.0 million.

Bloomington: what a borrower checks

In Bloomington, demand comes first: who works in Monroe County, IN, who works in Owen County, IN, how that compares with Bloomington as a whole, and whether the 13 full-service restaurant loans leave room. Also, on cost: $225,800 is the Bloomington median and $100,000 to $466,100 the middle band, so a Monroe County, IN site must price itself against this $225,800 median. Coverage: Bloomington cash flow has to withstand a slow year, bearing in mind the 10.5% cancellation floor; The Bloomington charge-off rate is blank as well: Loan Analytics prints none for a cohort of under 30 loans. The Monroe County, IN appraisal needs to agree with the value the loan uses. Bloomington uses the 2023 July area map; an approval whose county fails to match drops out of every other area, Bloomington too, but the totals carry loans apart from the classes named.