Fitness Center Feasibility Study in West Virginia

Small loans in a class that ranks high locally

Fitness centers rank 4 of 39 among West Virginia asset classes, although the state is 41 of 54 by loan count. The 40 loans approved between FY2017 and FY2026 add up to $11.6 million, and the location quotient of 1.18x shows a slightly heavier weight than the national mix. The median loan is $128,150, which is 0.49x the nationwide median. The median is a plain description of loan size. The central half runs from $27,750 to $379,750, which reaches down to very small notes. A study should price its own budget against the central half of the record before assuming a larger loan is available.

Only 7(a), with a franchise presence

Every loan is an SBA 7(a) loan; the 504 figure is 0. Franchise affiliation reaches 27.5% of loans. The Huntington National Bank holds 16 loans worth $2.2 million, a small average, and Peoples Bank holds 5 worth $590,000. Monongalia County leads with 9 loans, then Cabell and Kanawha with 5 each, Jackson with 4, and Jefferson and Lewis with 3. A handful of counties account for most of the activity, and the rest of the state has few precedents.

Rates withheld on both sides

For this cell neither outcome rate can be quoted, as the cohorts behind cancellation and charge-off are below 30 loans. Loan Analytics withholds a rate whenever fewer than 30 loans sit behind it, so no number is printed, and neither blank means the true figure is zero. A sponsor should bring its own history, lease terms, landlord support and a plan if membership falls short.

What a West Virginia gym study must test

A study should begin with population and drive time, because the catchment decides how many members a club can reach. It should estimate membership by price tier, model attrition month by month, and compare competing gyms, university facilities and low-cost chains. Revenue must cover rent, payroll and any royalty. Debt service coverage needs a slow-opening case. With the median at $128,150 and the central half from $27,750 to $379,750, a request near the top of that range should show why it needs more than most borrowers in the record. The lender list shows who holds loans today and nothing more. The appraisal should state what value, if any, it gives to fixtures. The loans above give borrowers and credit officers a state-specific reference for what has been approved.