Feasibility Study Data for the Hutchinson, MN Micro Area

What SBA's files say about Hutchinson

Across Hutchinson, SBA's own files record 182 loans over FY2017 through FY2026, worth $48.7 million of gross dollars. Hutchinson sits within the whole list of areas, on volume, in place 333 of 928. The core of Hutchinson lending falls between $46,250 and $292,500, and a middle figure of $125,000; and the median sits at 0.60x the national median. By program, Hutchinson shows 151 loans under 7(a) and 31 under 504. Franchises make up 6.6% of the loans.

Hutchinson: businesses and places

Separately, among the business classes we name for Hutchinson, full-service restaurant heads the list with 6 loans, then dental office, 5 loans and limited-service restaurant, 5 loans. A further 138 loans in Hutchinson belong to no named class. Further, all the lending in Hutchinson sits in McLeod County, MN, at 182 loans, so a feasibility study for this area a matter of one county only.

Hutchinson: institutions behind approvals

Holders shown for Hutchinson are lifted from SBA's released Hutchinson records of the 182 approvals in Hutchinson, held now or earlier; the records assign every entry though reveal nothing about lender standards. Besides, for 7(a) lending in Hutchinson, the leading holders are Citizens Bank & Trust Co at 92 loans and $13.7 million; next, Wells Fargo Bank National Association at 9 loans and $4.4 million. In the 504 program near McLeod County, MN, the holders include Midwest Business Finance Corporation ($10.6 million across 23 loans). Holder rows describe past holdings; the contents of a Hutchinson study are best agreed with the borrower's lender before work starts.

Hutchinson: cancellations and charge-offs

Among Hutchinson approvals from FY2017 through FY2024, at least 9.3% were cancelled after approval in Hutchinson, and that is a floor; the full Hutchinson figure can only be higher. The charge-off rate for McLeod County, MN is not printed here, because too few Hutchinson loans were paid out. That absence, within Hutchinson, must never be read as no losses. Next, year by year, Hutchinson was strongest in FY2021 at 31 loans and $9.4 million, and dipped to its lowest in FY2026 at 7 loans and $2.3 million.

Hutchinson: what a study tests

For Hutchinson, begin with demand: who lives in McLeod County, MN, set against Hutchinson as a whole, and whether the 6 full-service restaurant loans leave room. Cost: $125,000 is the Hutchinson median and $46,250 to $292,500 the central range, so a McLeod County, MN site must price itself against that $125,000 marker. Then coverage: Hutchinson coverage survives a soft year against plus the 9.3% floor for cancellation and charge-off floor for Hutchinson, which is also not published since the cohort is thin. The McLeod County, MN appraisal has to support the worth financed. Hutchinson adopts the July 2023 delineation; a file whose project county is not matched is excluded from any area, Hutchinson as well, and the totals count loans apart from the class list.