Feasibility Study Data for the Farmington, NM Metro Area

Farmington, NM in the national count, 147 loans

SBA files rank Farmington 374 of 928 by loans: 147 approvals in FY2017 to FY2026, $97.6 million gross. Median loan: $150,000 in Farmington, 0.72x the national median. That makes Farmington a smaller-ticket market. In Farmington, the middle half of loans runs from $54,500 to $601,000. Because $54,500 and $601,000 frame the middle half, a Farmington borrower should weigh any Farmington request against $150,000.

Program mix in Farmington: 135 under SBA 7(a) in Farmington and 12 under SBA 504. As SBA flags them, 16.3% of Farmington loans are franchise loans. Asset by asset, Farmington shows hotel and motel with 12, coffee shop and snack bar with 7 and limited-service restaurant with 5. A further 100 Farmington loans sit in no named class in Farmington. The class lines for Farmington therefore never sum to 147. All Farmington loans trace to San Juan County, NM, with 147 approvals, so Farmington behaves as a one-county market in Farmington.

Farmington, NM lender names, as SBA lists them in Farmington

In Farmington, this section reflects SBA's files on loans a holder owns or owned in Farmington, per the note, and say nothing of lender standards. Farmington holders should be read that way. The Farmington SBA 7(a) table opens with Zions Bancorporation, National Association with 24 loans worth $3.6 million; Bank of the Southwest with 21 loans worth $5.7 million; Wells Fargo Bank National in Farmington Association with 16 loans worth $1.8 million. No holder in Farmington, NM reaches the 504 table threshold. The Farmington 504 side carries no lender names in Farmington. The first holder in Farmington sets the pace. Even so, a Farmington borrower may take a study elsewhere in Farmington.

Of Farmington approvals from FY2017 to FY2024, at least 8.2% were cancelled after approval. Another Farmington ceiling, counting undisbursed loans as cancelled remains hidden in Farmington, nothing guessed for Farmington. The Farmington charge-off floor for in Farmington loans disbursed from FY2017 to FY2021 is held back in Farmington, the cohort is small; nothing is guessed, and Farmington is not zero. Farmington's busiest printed year was FY2019, with 21 loans. The Farmington area rests on county of record for the project by the July 2023 delineation, meaning that loan with an unmatched county falls outside every area. The 147 loans in Farmington, NM include those in no named class in Farmington.

Farmington, NM: questions a study has to answer for Farmington

A Farmington study opens with demand. Weigh the people near that location, never Farmington at large, and let a weak first year pass. Next, price the Farmington project. A $150,000 median loan is a rough guide, so every line in Farmington item wants a source, adding a visible contingency for Farmington. Farmington debt service coverage ties it together. State the ratio under a base case next to a case with softer income, so the margin of safety shows in Farmington. An independent Farmington appraisal comes last, so any occupancy claim has to be defensible in Farmington. Inside Farmington, NM, submarkets differ widely. Its 147 loans average across them all, so a Farmington study must name the Farmington submarket it means. At 0.72x of the national median in Farmington, a very large Farmington project may look unusual in Farmington. The study should explain its scale for Farmington against $150,000.