Feasibility Study Data for the Hattiesburg, MS Metro Area

What the record shows for Hattiesburg

183 approvals inside Hattiesburg, MS over FY2017 and FY2026 add up to $73.2 million in gross dollars. For context, Hattiesburg places 332 of 928 among all CBSAs counted by loans. Next, $150,000 is the median; half of all loans spans $58,150 to $360,200. Also, the median here is 0.72x of the national median, so a usual ticket lands short of the usual national size. In addition, Hattiesburg looks only at its home counties, and never a statewide average: 183 approvals in total.

Lenders and programs in Hattiesburg

Hattiesburg shows separate 7(a) and 504 counts withheld at source, and neither program is called zero. Beyond that, 12.0% of the loans carry franchised units in Hattiesburg. Beyond that, within 7(a) approvals, the leading institutions on loan count stand as Peoples Bank (MS) with 25 loans for $8.7 million, Community Bank of Mississippi booking 21 loans for $6.5 million, plus Trustmark Bank holding 21 loans and $2.3 million. Beyond that, no certified development company in Hattiesburg clears the listing bar. Worth noting: these names are copied from SBA data on 183 approvals; they describe past loans only, not the standards that lenders ask for around Hattiesburg.

The classes behind the loans in Hattiesburg

7 for limited-service restaurant, 6 for full-service restaurant, 5 in child care center, and 5 in coffee shop and snack bar top the class table. In turn, 137 loans sit beyond all named classes, so the 183-loan file reaches beyond the class list. Next, county by county, Forrest County (99), Lamar County (71); and Perry County (13) carry the most loans. Next, by year, FY2017 begins at 12 loans and $3.5 million; FY2018 tops the series at 26 loans and $11.6 million, while FY2026, the latest year, closes the tally at 11 loans and $9.8 million.

The outcome floors in Hattiesburg

9.9% of FY2017 to FY2024 loans in Hattiesburg have been cancelled before funding, a floor; 9.9% marks the ceiling with undisbursed loans included. No default floor is given for Hattiesburg, MS; the cohort of disbursed loans has too few loans, and a missing figure never means zero. Take each percentage above as a minimum, since approvals made lately received scant runway to fall through or default, across 183 loans. Membership here rests on the CBSA containing any loan's project county, per the July 2023 boundaries; each county were matched using the name, and so a project whose home county cannot be placed never counts in every area total. Beyond that, named class or not, each approval under 7(a) or 504 across Hattiesburg counts towards its $73.2 million total.

The feasibility questions for Hattiesburg

Around Hattiesburg, an independent study covering a site begins with the project itself, not from the 183-loan file. Also, customer demand in Hattiesburg heads the list: does Hattiesburg's trade area sustain the income modelled, against competitors in and near Forrest County? In turn, the median here stands at 0.72x compared with the country's median, so typical tickets are small; a bigger scheme must make the case it can service what it borrows. Beyond that, the debt service test joins revenue to cost in Hattiesburg: forecast income tested against the payments due, plus a case of falling revenue. For context, the last test, the appraisal, completes the test in Hattiesburg: market value on completion must carry the amount requested. Separately, a borrower armed with a third-party study for Hattiesburg, prior to approaching a lender, has dealt with the outcome floors up front; the verdict sits with SBA and the lender for Hattiesburg, and a study cannot change that.