Feasibility Study Data for the Duluth, MN-WI Metro Area

Duluth: the size of the record

SBA approved 712 loans in Duluth from FY2017 to FY2026, $276.3 million in gross dollars. By loan count, Duluth stands 134 of 928 among all areas. The Duluth median loan is $179,250. $75,000 to $422,000 spans the Duluth middle half. Duluth: 0.86x of the national median. In Duluth, 603 loans were 7(a) and 109 were 504. 5.6% of the loans in Duluth carry a franchise brand. Those 712 Duluth loans carry $276.3 million.

Duluth: asset mix and geography

The busiest classes in Duluth are full-service restaurant (57), limited-service restaurant (33), and hotel and motel (20). Next in Duluth comes beverage manufacturing at 15 loans. The Duluth record also holds 474 loans in no tracked class. By county, Duluth loans concentrate in St. Louis County, MN (546), Douglas County, WI (88), and Carlton County, MN (78).

Duluth: lenders in the record

Holders in Duluth may not be the makers. Duluth holders under 7(a) include 87 loans at Frandsen Bank and Trust ($42.3 million), 50 loans at U.S. Bank, National Association ($6.3 million), and 36 loans at Members Cooperative Credit Union ($6.9 million). Duluth lists, for 504, WBD, Inc. (23 loans, $9.1 million) and Amplio Economic Development Corporation (20 loans, $15.4 million). In Duluth, a borrower treats the rows as context. The Duluth rows are silent on holder terms.

Duluth: cancellations and charge-offs

10.2% is the Duluth cancellation floor for FY2017 to FY2024 approvals. The Duluth ceiling is 11.0%, counting undisbursed loans as cancelled. 415 Duluth loans make the FY2017 to FY2021 cohort; 1.4% are charged off, a floor. The five-year rate is withheld for Duluth: Duluth loans are few. A lender reading Duluth takes both rates as the least. Duluth history only grows. Each Duluth loan is placed by county name. Duluth follows the July 2023 delineation. Duluth omits loans with no county match. The Duluth total includes loans outside the classes.

Duluth: testing a project

By year, FY2021 was busiest for Duluth, at 107 loans and $36.6 million, and FY2024 quietest, at 44 loans and $18.8 million. The first year, FY2017, shows 64 loans and $24.1 million for Duluth. FY2026 closes the Duluth series at 44 loans, $29.3 million. In Duluth, demand testing starts with St. Louis County, MN and the businesses already serving it. Duluth costs sit beside a $179,250 median. Duluth stands at 0.86x nationally. Duluth coverage is stressed with slower ramp-up. Duluth reviewers will weigh the floors above. Last for Duluth: value must support cost, by appraisal. Sources and uses in Duluth must tie to bids near St. Louis County, MN. Beside St. Louis County, MN findings, the Duluth study lists what it could not test.