Feasibility Study Data for the Harrisonburg, VA Metro Area

Lending in outline for Harrisonburg

129 SBA loans for projects in Harrisonburg, VA over FY2017 and FY2026 total $74.0 million gross. Beyond that, Harrisonburg stands at 411 of 928 against all core-based areas on approvals. $275,000 marks the central loan; the bulk of loans lies between $125,000 and $750,000. The typical loan here is 1.32x against the country's median, so a usual ticket lands ahead of the figure for the nation. Then, Harrisonburg keeps to its own counties, never a statewide average: 129 loans overall.

Who finances projects in Harrisonburg

108 loans in 7(a) compare with 21 loans in 504. In practice, 19.4% of the loans on file involve franchisees here. Under 7(a) cases, the largest institutions by loans appear as Farmers & Merchants Bank (VA) with 14 loans worth $2.0 million, Pendleton Community Bank Inc holding 12 loans and $2.6 million, followed by Atlantic Union Bank booking 11 loans for $4.1 million. Next, under 504 lending, the busiest development companies by number come out as Business Finance Group, Inc. holding 12 loans totalling $11.8 million. Separately, lender names are taken from SBA data on 129 loans; they show completed approvals alone, and not the terms that lenders apply across Harrisonburg.

Classes, counties and the unclassified bulk in Harrisonburg

Automotive mechanical repair at 6, gas station and truck stop with 5, then limited-service restaurant at 5 head the class list in the file. 85 approvals lie apart from the named classes, so the Harrisonburg total reaches beyond the class list. For context, looking at counties, Harrisonburg city (69) plus Rockingham County (60) come first. In turn, taking each approval year, FY2017 begins at 8 loans and $3.6 million; FY2025 is the high point at 19 loans and $11.8 million, while FY2026, the latest year, ends the count at 19 loans and $12.3 million.

What the floors allow in Harrisonburg

11.0% of FY2017 through FY2024 approvals in Harrisonburg were cancelled before they funded, a floor; 11.0% marks the ceiling counting undisbursed loans. In practice, no loss floor is printed for Harrisonburg, VA; the disbursed cohort has too few loans, and withheld cannot be read as zero. In practice, take every rate printed here like a minimum, as loans written recently got scant runway to cancel or default, across 129 loans. A Harrisonburg entry in the file rests on the statistical area that takes in each loan's site county, using the July 2023 definitions; the counties are paired name to name, so any loan whose home county does not map never counts in every area total. Worth noting: whatever its class, every approval in either program across Harrisonburg is included towards its $74.0 million total.

The feasibility questions for Harrisonburg

For Harrisonburg, an independent study for a property opens with the actual proposal, and not the 129-loan file. Separately, demand in Harrisonburg is the opening test: can Harrisonburg's local customer base sustain the volume needed, against competitors in and near Harrisonburg city? The area median comes to 1.32x measured against the national median, so construction quotes could run ahead, perhaps; price the real scope against figures from local trades. Separately, debt service coverage binds sales to outlay in Harrisonburg: expected net income set against loan payments, plus a downside case. The valuation completes the test in Harrisonburg: value as built must carry the request requested. Beyond that, a client armed with an independent feasibility study of Harrisonburg, when first calling on a bank, has faced the outcome floors first; the decision belongs to the credit committee and SBA in Harrisonburg, not the study's author.