Feasibility Study Data for the Lafayette-West Lafayette, IN Metro Area

Lending in outline for Lafayette-West Lafayette

390 SBA loans inside Lafayette-West Lafayette, IN from FY2017 through FY2026 carry $172.7 million gross. In addition, Lafayette-West Lafayette sits at 195 of 928 within the complete list of CBSAs by loans. For context, $150,000 stands as the central loan; the bulk of loans extends from $50,000 to $414,250. Here, the area median comes to 0.72x measured against the national median, pointing to tickets that sit below the usual national size. Lafayette-West Lafayette counts only projects inside its borders, not the mix a statewide page shows: 390 loans altogether.

Lenders and programs in Lafayette-West Lafayette

340 SBA 7(a) loans sit beside 50 loans under 504. For context, 12.1% of all approvals involve franchisees here. Here, under 7(a) approvals, the top institutions by approvals are The Huntington National Bank with 82 loans and $15.3 million, Centier Bank with 73 loans and $11.9 million, plus First Merchants Bank holding 29 loans and $5.2 million. In practice, for 504 approvals, the largest development companies by approvals are Indiana Statewide Certified Development Corporation booking 22 loans totalling $19.0 million then Regional Development Company at 17 loans totalling $13.6 million. Next, the names here follow SBA files on 390 loans; they record past loans only, not what lenders apply in Lafayette-West Lafayette.

The classes behind the loans in Lafayette-West Lafayette

28 in full-service restaurant, 21 in limited-service restaurant, 8 in hotel and motel, plus fitness center with 8 lead the named classes in loan count. Then, 284 approvals lie beyond every named class, so the Lafayette-West Lafayette total reaches beyond what the classes show. 5 approvals in skilled nursing across Lafayette-West Lafayette are too few to show a pattern. For context, by county, Tippecanoe County (346), Carroll County (25), and Benton County (14) take the largest shares. Separately, across the years, FY2017 starts at 49 loans and $20.9 million; FY2022 is the peak at 52 loans and $20.8 million, while FY2026, a part year, completes the tally at 35 loans and $23.0 million.

What the floors allow in Lafayette-West Lafayette

12.5% among FY2017 through FY2024 loans in Lafayette-West Lafayette were cancelled before disbursement, a floor. Then, the upper figure here is withheld, so the floor alone is shown. Separately, 3.8% among FY2017 through FY2021 disbursed loans in Lafayette-West Lafayette were charged off to date, a floor, out of 158 loans. Also, the five-year rate is withheld for Lafayette-West Lafayette, leaving the to-date floor to stand. Read every rate on this page like a minimum, since approvals made in the latest years got limited opportunity to fall through or default, across 390 loans. Each area in this file means the area which includes every loan's site county, according to the July 2023 delineation; each county are matched name to name, but any loan with a county has no CBSA never counts in all areas without exception. Here, whatever its class, any approval in either program in Lafayette-West Lafayette is tallied within its $172.7 million total.

Testing a project in Lafayette-West Lafayette

For Lafayette-West Lafayette, any serious study for a venture starts from the particular site, not from the 390-loan file. Customer demand in Lafayette-West Lafayette leads the work: does Lafayette-West Lafayette's trade area support the volume needed, against competitors around Tippecanoe County? In practice, the median here stands at 0.72x of the national median, so everyday approvals run small; a larger project needs to show comparable deals justify its size. Coverage of debt service joins sales to outlay in Lafayette-West Lafayette: expected net income tested against loan payments, along with a stress case. In addition, the last test, the appraisal, ends the sequence here: value as built has to bear the borrowing proposed. Here, an applicant holding a separate written study for Lafayette-West Lafayette, when first speaking with the lenders above, has faced the floors first; approval stays with the lender and SBA for Lafayette-West Lafayette, which a study informs but never decides.