Feasibility Study Data for the Elkhart-Goshen, IN Metro Area

Elkhart-Goshen, IN: what the SBA record contains for Elkhart-Goshen

SBA approved 363 loans for Elkhart-Goshen projects over FY2017 to FY2026, for $245.8 million gross. Elkhart-Goshen holds rank 202 of 928 against every other statistical area, Elkhart-Goshen among them. The local median loan is $250,000, and the central half fall from $99,500 up to $752,000. Against the country, Elkhart-Goshen borrowers take larger loans, with a median 1.20x of the national one. Nationally, Elkhart-Goshen loans run smaller than they do here.

Elkhart-Goshen borrowers, programs and holders in Elkhart-Goshen, IN

The metro area shows 300 loans under 7(a), against 63 under 504; in Elkhart-Goshen, 7(a) carries the larger proportion. Franchise brands account for 12.7% of loans. On the 7(a) side, KeyBank National Association leads with 23 loans and $11.7 million. Second place is First State Bank of Middlebury: 19 loans, $14.1 million. Lake City Bank holds 17 loans, and Centier Bank at 17. For 504, the top name is Business Development Corporation (BDC), holding 54 loans worth $41.5 million. These are SBA's records of Elkhart-Goshen loans held or once held. KeyBank National Association Elkhart-Goshen appears where SBA gives it as the Elkhart-Goshen holder; nothing here speaks to what First State Bank of Middlebury asks of an applicant.

Elkhart-Goshen by asset class and by county in Elkhart-Goshen, IN

The larger share of the Elkhart-Goshen record falls outside the class table: 265 loans that carry codes outside the Elkhart-Goshen table. The Elkhart-Goshen class rows therefore describe a minority of Elkhart-Goshen lending. The class table opens with hotel and motel, 25 loans, then full-service restaurant with 11 and automotive Elkhart-Goshen mechanical repair (car and truck) with 7. Further down sit fitness center, 7 loans and limited-service restaurant at 7. The county table starts with Elkhart County, IN at 363 loans. Demand differs between these Elkhart-Goshen counties, so the Elkhart-Goshen figure hides some spread.

Elkhart-Goshen, IN: reading the outcome floors for Elkhart-Goshen

7.3% is the lowest the Elkhart-Goshen cancellation Elkhart-Goshen share can be for FY2017 to FY2024 Elkhart-Goshen approvals, and up to 9.3% if undisbursed Elkhart-Goshen loans are added to the cancelled. Of 187 disbursed loans in the FY2017 to FY2021 Elkhart-Goshen cohort, at least 3.2% have been charged off. The five-year Elkhart-Goshen rate is withheld because the Elkhart-Goshen cohort is below 30 loans, so no number sits in for it. Loans keep aging, making these minimums and can merely rise. Volume crested in FY2017, at 60 loans and $44.4 million, whereas FY2020 was the low Elkhart-Goshen point before FY2026, at 16 loans and $12.7 million. Elkhart-Goshen is built from project counties such as Elkhart County, IN; the 2023 Elkhart-Goshen delineation of statistical areas draws the line, yet Elkhart-Goshen counties Elkhart-Goshen that resist matching stay out of all sums.

Elkhart-Goshen: testing a project in Elkhart-Goshen, IN

A study for an Elkhart-Goshen project must start from the particular county, given how unlike its Elkhart-Goshen counties can be. The top class by count is hotel and motel, which means expect scrutiny of capital reserves for renewals, plus what competing Elkhart-Goshen rooms charge and the brand and flag question. An Elkhart-Goshen request in full-service restaurant turn on what prime cost leaves for debt, with the lease term against payback close behind. Cash flow for an Elkhart-Goshen loan has to survive a weak year; the appraisal needs local sales and Elkhart-Goshen rents behind it. With larger loans common in Elkhart-Goshen, the analysis should tie the amount to real outlays, and never to what neighbors borrowed.