Feasibility Study Data for the Fergus Falls, MN Micro Area

What SBA's files say about Fergus Falls

For Fergus Falls, the SBA loan files list 177 approvals over FY2017 to FY2026, totalling $75.9 million in gross approvals. Fergus Falls lands within all metro and micro areas, by loans, as 339 of 928. Half of Fergus Falls loans, the middle ones, spans $77,000 to $475,000, and a middle figure of $200,000; which sets the median at 0.96x the nationwide median. Split by program, Fergus Falls shows 134 loans in 7(a) against 43 under 504. Franchises make up 6.2% of the record.

Fergus Falls: businesses and places

In the same files, across the named classes we list for Fergus Falls, rv park and campground leads with 12 loans, trailed by full-service restaurant (9) and gas station and truck stop, 7 loans. Also 115 loans in Fergus Falls belong to no named class. For the record, all 177 loans fall in Otter Tail County, MN, so a study around Fergus Falls is a single-county exercise.

Fergus Falls: institutions behind approvals

Lenders listed for Fergus Falls stem from SBA's released Fergus Falls records of the 177 SBA loans in Fergus Falls, and who holds or held each; these entries locate each position and pass no judgment on lender practice. Further, under 7(a) in Fergus Falls, SBA's records name United Community Bank (MN) (25 loans, $1.7 million), followed by My Kind of Bank National Association, with 20 loans for $2.9 million. Among 504 loans in Fergus Falls, SBA names Midwest Business Finance Corporation at 26 loans and $13.4 million, ahead of Dakota Business Lending, holding 8 loans worth $6.4 million. A Fergus Falls borrower may ask the Fergus Falls holder United Community Bank (MN) or other Fergus Falls holders near Otter Tail County, MN which documents it expects, then shape the Fergus Falls study to satisfy those answers.

Fergus Falls: what followed approval

Among Fergus Falls approvals from FY2017 to FY2024, not below 8.2% ended in cancellation after approval in Fergus Falls, a floor; the true Fergus Falls rate is no lower. For the record, a charge-off rate for lending in Fergus Falls is left blank in the record, because too few Fergus Falls loans were drawn. That blank, for Otter Tail County, MN, should never be read as zero losses. Besides, year by year, Fergus Falls peaked in FY2021 at 35 loans and $18.1 million, and bottomed out in FY2025 at 8 loans and $1.7 million.

Fergus Falls: what a study proves

Around Otter Tail County, MN, demand comes first: who shops in Otter Tail County, MN, who commutes in, set against the wider Fergus Falls area, and whether the 12 rv park and campground loans leave room. Budget: $200,000 is the Fergus Falls median and $77,000 to $475,000 the central range, so a Otter Tail County, MN site should be costed on evidence against that $200,000 marker. For the record, debt service: Fergus Falls debt service absorbs a sluggish year against the 8.2% rate of cancellation and the charge-off rate for Fergus Falls, which is also suppressed for want of enough loans. The Fergus Falls appraisal must support the figure assumed. Fergus Falls adopts the July 2023 boundaries; a file whose home county finds no place falls out of all areas, Fergus Falls too, yet the totals keep loans outside the classes we track.