Feasibility Study Data for the Ithaca, NY Metro Area

Lending in outline for Ithaca

132 approvals inside Ithaca, NY between FY2017 through FY2026 add up to $54.5 million in gross dollars. Also, Ithaca sits at 404 of 928 against all CBSAs on approvals. Worth noting: $84,500 sets the central loan; half of all loans falls between $33,125 and $300,000. The median here is 0.41x measured against the median nationwide, leaving the typical loan short of the usual national size. In practice, Ithaca is limited to its home counties, never a state's blend: 132 loans in all.

Lenders and programs in Ithaca

125 SBA 7(a) loans accompany 7 loans in 504. In turn, 6.8% of the approvals involve franchised units in Ithaca. For context, within 7(a) cases, the largest lending names by count are Manufacturers and Traders Trust Company at 52 loans for $3.7 million, Tompkins Community Bank holding 22 loans and $2.2 million, followed by Chemung Canal Trust Company with 5 loans and $696,000. In practice, in 504 approvals, the top development companies by loans are Empire State Certified Development Corporation holding 7 loans and $3.9 million. All the names follow SBA data on 132 loans; they record completed approvals alone, not the standards that lenders require in Ithaca.

Asset classes and counties in Ithaca

Full-service restaurant with 17 plus limited-service restaurant with 7 rank first by class in the file. For context, 81 loans lie outside all named classes, so the 132-loan file reaches beyond any class table. Tompkins County accounts for every one of 132 loans, so area and county match. Beyond that, over the approval years, FY2017 begins at 17 loans and $2.3 million; FY2025 is the busiest year at 22 loans and $3.3 million, then FY2026, the latest year, concludes the record at 18 loans and $7.4 million.

What the floors allow in Ithaca

5.4% among FY2017 to FY2024 loans in Ithaca have been cancelled before funding, a floor; 5.4% is the ceiling if undisbursed loans count. Next, no loss floor is shown for Ithaca, NY; the cohort is too thin, and withheld never means zero. Then, treat every rate above as a minimum, because loans written recently have had too little time to cancel or default, across 132 loans. Also, membership on the page rests on the statistical area containing any loan's county of project, following the July 2023 delineation as published; the counties are matched on name, and a loan whose home county cannot be placed is dropped from any area. Then, class or no class, each 7(a) and 504 approval across Ithaca is counted into its $54.5 million total.

Testing a project in Ithaca

Around Ithaca, a proper study aimed at a site opens with the specific operator, not from the 132-loan file. Next, local demand in Ithaca heads the list: does Ithaca's surrounding market sustain the receipts projected, measured against nearby supply around Tompkins County? Next, the area median comes to 0.41x compared with the national median, so ordinary loans come in light; a larger project should demonstrate comparable deals justify its size. Then, the coverage test ties income to payments in Ithaca: forecast income measured on the annual debt service, along with a stress case. Worth noting: finally, the appraisal settles the question here: value as built must carry the amount requested. Next, a sponsor carrying an independent written study for Ithaca, before speaking with the lenders above, addresses these rates early; the decision belongs to SBA and the lender for Ithaca, and no study can promise it.