Worked Example: SBA 504 Hotel Feasibility Study in Washington
A worked example of the feasibility study a lender would read for a hotel project in Washington, financed with an SBA 504 loan.
Hotel Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
What SBA's own loan files show about hotel and motel lending in the Portland-Vancouver-Hillsboro, OR-WA Metro Area, and what a feasibility study for a project there has to test.
Hotel loans in Portland at a glance
Portland reports FY2017 to FY2026 approvals: 33 hotel loans, $87.1 million gross. On hotel, Portland stands 61 of 807 among ranked areas. Within Portland, hotel is 13 of 39. Portland has a quotient of 0.30x, hotel below the national share. Portland spans OR and WA, so both feed the counts.
Portland: loan size and franchise
The median Portland loan is $2.7 million; $1.6 million to $4.1 million holds the middle half. Portland loans sit at 1.24x of the national class median. In Portland, borrowers draw bigger loans than nationally. Portland has 19 SBA 7(a) loans. Portland has 14 SBA 504 loans. Portland finances fixed assets through 504. In Portland, 7(a) is the broader program. Portland's split shows its financing mix. Portland loans show a 60.6% franchise share. Portland loans run bigger. In Portland, a study must prove the payment.
Portland loan holders and counties
Portland SBA 504 holder: 5 loans, $9.2 million, Evergreen Business Capital. Portland names here hold or held loans. In Portland, SBA rows say nothing of requirements. Portland borrowers read the list as holders. Portland hotel lenders get first tests. Portland, county by county: 11 in Multnomah County, OR, 8 in Clark County, WA, and 5 in Clackamas County, OR.
Portland years and hotel coding limits
Portland years print only in part. FY2017 brings Portland 5 loans, $10.0 million. FY2020 brings Portland 8 loans, $18.4 million. FY2022 brings Portland 7 loans, $24.7 million. FY2023 brings Portland 0 loans, $0. Other Portland years are withheld. Thin counts leave Portland totals unknown. In Portland, no blank is a zero, and Portland treats FY2026 as complete. Floors in Portland follow Loan Analytics' own rule. The Portland cohort holds fewer than 30 loans. Portland disbursements cover FY2017 to FY2021. No Portland cancellation floor prints. No Portland charge-off floor prints either. Portland blanks are no zero. Portland blanks are no clean book. Each Portland rate is a floor. Portland follows July 2023 boundaries. Portland places loans by project county. Portland drops loans lacking a placeable county. Portland note: Hotels and motels travel under a single code, so a Portland reader cannot pull limited-service lodging apart from full-service lodging.
Portland: what a study must prove
Portland treats $1.6 million to $4.1 million as the range to explain in Portland. A hotel study in Portland tests occupancy, daily rate and RevPAR against the properties a new one would face. In Portland, the franchise question matters: a flag brings fees and standards, and the study tests whether the revenue lift covers the cost. A Portland lender will ask for a debt service coverage test at occupancy levels below the plan, since hotels have large fixed costs. Daniel Smith, MAI, signs every Portland hotel study. For Portland, demand and cost are tested. In Portland, coverage and value are tested. Portland borrowers are promised no approval here.
SBA hotel and motel loans in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
| Loans approved, FY2017 to FY2026 | 33 |
|---|---|
| Gross dollars approved | $87.1 million |
| Median loan | $2.7 million |
| Middle half of loans, from | $1.6 million |
| Middle half of loans, to | $4.1 million |
| SBA 7(a) loans | 19 |
| SBA 504 loans | 14 |
| Franchise share of loans | 60.6% |
| Rank among metro and micro areas for hotel and motel loans | 61 of 807 |
| Rank of hotel and motel among the classes in this area | 13 of 39 |
| Location quotient (share of loans against the national share) | 0.30x |
| Median loan against the national median for the class | 1.24x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | not reported: fewer than 30 loans in the cohort |
|---|---|
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | withheld |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
SBA hotel and motel loans approved in the Portland-Vancouver-Hillsboro, OR-WA Metro Area, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 5 | $10.0 million |
| FY2018 | withheld | withheld |
| FY2019 | withheld | withheld |
| FY2020 | 8 | $18.4 million |
| FY2021 | withheld | withheld |
| FY2022 | 7 | $24.7 million |
| FY2023 | 0 | $0 |
| FY2024 | withheld | withheld |
| FY2025 | withheld | withheld |
| FY2026 | withheld | withheld |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| Evergreen Business Capital | 5 | $9.2 million |
Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.
Where the loans are, by county
| County | Loans |
|---|---|
| Multnomah County, OR | 11 |
| Clark County, WA | 8 |
| Clackamas County, OR | 5 |
Counties with 5 or more loans; smaller ones are not listed.
Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.
One code for hotels and motels; limited service and full service cannot be separated.
Shared code: Hotels and motels share 721110.
A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MA-38900-C07.
Related feasibility study pages
- Hotel and motel feasibility study consultant
- SBA Hotel Loan Feasibility Study
- Feasibility Study Data for the Portland-Vancouver-Hillsboro, OR-WA Metro Area
- Hotel Feasibility Study in Oregon
- Hotel Feasibility Study in Washington
- Feasibility study data and consultants for Oregon
- Feasibility study data and consultants for Washington
- Feasibility Study Data by Metro Area
- Feasibility studies for SBA 7(a) and 504 loans
- Hotel Feasibility Study in the Atlanta-Sandy Springs-Roswell, GA Metro Area
- Hotel Feasibility Study in the Houston-Pasadena-The Woodlands, TX Metro Area
- Hotel Feasibility Study in the Dallas-Fort Worth-Arlington, TX Metro Area
- Hotel Feasibility Study in the Chicago-Naperville-Elgin, IL-IN Metro Area
- Hotel Feasibility Study in the Riverside-San Bernardino-Ontario, CA Metro Area
- Hotel Feasibility Study in the Los Angeles-Long Beach-Anaheim, CA Metro Area
- Restaurant Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
- Quick Service Restaurant Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
- Auto Repair Shop Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
- Fitness Center Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
- Coffee Shop Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
- Brewery, Winery and Distillery Feasibility Study in the Portland-Vancouver-Hillsboro, OR-WA Metro Area
Worked examples
Loan Analytics prepares the feasibility study a lender reads before it commits: for a hotel and motel project in the Portland-Vancouver-Hillsboro, OR-WA Metro Area, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.
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