Feasibility Study Data for the Morgantown, WV Metro Area

The Morgantown record in brief

In Morgantown, SBA's files hold 303 approved loans over FY2017 through FY2026, totalling $81.0 million in gross approvals. Morgantown lands within every other area in the files, on approval count, number 237 of 928. Half of Morgantown loans, the middle ones, falls between $48,000 and $259,500, about a median near $100,000; which sets the median at 0.48x the national median. Next, the split between the two programs in Morgantown is withheld at the source, because at least one program rests on too few loans; we give it no figure and the gap is not a zero. Further, franchises make up 10.2% of approvals.

Morgantown: who and where

Notably, within the asset classes we track for Morgantown, full-service restaurant stands on top with 21 loans, then fitness center (9) and limited-service restaurant (7). A further 219 loans in Morgantown belong to no named class. By county, Monongalia County, WV carries 256 loans, followed by Preston County, WV (47).

Morgantown: lenders on record

Lenders listed for Morgantown come from SBA's public Morgantown records of the 303 guaranteed loans in Morgantown, carried at present or before; the entries locate each file yet pass no judgment on lender underwriting. In the same files, for Morgantown loans under 7(a), the leading holders are Clear Mountain Bank, Inc. ($26.5 million across 136 loans), ahead of The Huntington National Bank, with 108 loans for $23.1 million. An applicant in Morgantown can ask the leading Morgantown holder Clear Mountain Bank, Inc. or other Morgantown holders near Monongalia County, WV which documents it wants, then write the Morgantown study to answer those answers.

Morgantown: loss floors and years

Among Morgantown approvals from FY2017 through FY2024, at least 11.6% were cancelled after approval in Morgantown, which is a floor; the true Morgantown share can only be higher. Beyond that, no charge-off rate for lending in Morgantown is not published in the record, because too few Morgantown loans were disbursed. That omission, around Monongalia County, WV, cannot be read as zero losses. Over the decade, Morgantown reached its high in FY2020 at 68 loans and $17.4 million, and hit its low in FY2022 at 20 loans and $6.3 million.

Morgantown: what a study proves

Around Monongalia County, WV, demand comes first: who shops in Monongalia County, WV, who lives in Preston County, WV, and how those compare with Morgantown as a whole, and how much room 21 full-service restaurant loans leave. Cost: $100,000 is the Morgantown median and $48,000 to $259,500 the middle band, so a Monongalia County, WV site should cost itself against this $100,000 median. Further, debt service: Morgantown repayment outlasts a slow year against the 11.6% cancellation floor and the charge-off rate for Morgantown, which is also omitted for want of enough loans. The Monongalia County, WV appraisal must back the value assumed. Morgantown relies on the 2023 July area list; any loan whose county is not matched is absent from every area, Morgantown as well, and the totals include loans apart from any named class.