Medical Office Feasibility Study in the Providence-Warwick, RI-MA Metro Area

Providence medical: small physician-office loans across two states

Medical office (physicians) is class 8 of 39 in the area, and Providence and Warwick is 31 of 488 among areas. Its location quotient of 0.87x places physician offices a little under their country-wide weight. The area reaches into Massachusetts; the files hold 44 loans for $14.8 million, FY2017 to FY2026. Size is the Providence and Warwick story for medical office: $140,750 at the median, 0.41x of the countrywide medical office median, within a $98,250 to $258,250 band. The central loans bunch in a narrow band, and the median is well under half the national figure.

Program choice in Providence and Warwick: SBA 7(a) for 37 medical office loans, SBA 504 for 7. Providence and Warwick medical office loans under a flag come to 0.00%. Providence County contributes 26, Kent County contributes 8, Bristol County contributes 5, and Washington County contributes 5. SBA 7(a) holders printed: $2.1 million from 6 loans carried by TD Bank, National Association and $660,500 from 5 loans carried by Citizens Bank, National Association. The lender columns show the holder on record, not a view of what TD Bank, National Association will fund.

SBA files for Providence and Warwick medical office show loans approved FY2017 to FY2024 lost at least 18.4% to cancellation, a minimum, not an estimate. For Providence and Warwick medical office borrowers, Loan Analytics withholds the ceiling that counts undisbursed loans and any charge-off figure, as few loans support either; withheld never means zero. In FY2017, 8 approvals worth $1.0 million; in FY2018, 11 approvals worth $2.5 million; in FY2021, 7 approvals worth $4.4 million; and in FY2023, 6 approvals worth $2.0 million.

What a Providence practice study tests

A study for a practice here should test patient volume and payer mix, the building or suite, equipment, and a payment that holds if one clinician leaves. The appraisal should say whether value rests on leasehold, goodwill or real estate. A medical office loan belongs to Providence and Warwick by the county of the project against the July 2023 delineation. An unmatched loan goes uncounted. With a $140,750 median against a $98,250 to $258,250 band, a request well outside that band needs a reason of its own, and none of the 44 loans guarantees funding for a new one.