Hotel Feasibility Study in the Elkhart-Goshen, IN Metro Area

Elkhart-Goshen: hotels first, at almost four times the national weight

Within Elkhart-Goshen the class ranks 1 of 39; across all areas, Elkhart-Goshen ranks 93 of 807 for hotels and motels. 25 loans worth $55.1 million are on file for Elkhart-Goshen, covering FY2017 to FY2026. Elkhart-Goshen shows a location quotient of 3.77x and a median loan of $2.0 million, which is 0.94x the national median for the class.

From $1.7 million to $3.0 million is where the middle half of Elkhart-Goshen loans fall. GBank and Millennium Bank (IL) each hold 5 of the loans on SBA's roll, carrying $11.8 million and $9.6 million respectively, so the same count hides a large gap in dollars. Elkhart County holds all 25 loans, so the record is a single-county one. 7(a) against 504 for Elkhart-Goshen: not printed. Elkhart-Goshen prints no franchise share.

Years

FY2017 shows 7 loans worth $16.6 million, the largest printed year, and FY2025 shows 0 loans and $0. For Elkhart-Goshen, years not named hold too few loans. Elkhart-Goshen's cohort is under 30 loans, which is why neither charge-off nor cancellation figures appear on this page. Tiers cannot be told apart, since hotels and motels share one industry code.

Because Elkhart County holds all 25 loans, the record has nothing to say about hotels in neighbouring counties, and a site elsewhere should say so. The lack of a franchise share and of a program split leaves two questions open that a lender will ask directly: whether the property is branded, and which SBA structure the project assumes. A study can answer both before the file reaches underwriting, and should do so in its first pages.

What an Elkhart-Goshen hotel study has to test

Show occupancy and nightly rate beside the cost of land, building and furnishings, together with a payment that survives occupancy below plan. Against a $2.0 million median and a middle half from $1.7 million to $3.0 million, a lender will size a request, and will ask whether the property is branded. The location quotient of 3.77x means hotel lending is familiar here, which helps with familiarity but also means competing properties are well represented, so the study should map them around the site.