Physical Therapy Clinic Feasibility Study in Connecticut

Small clinics in a thin New England market

Connecticut physical therapy lending is small. SBA approved 37 loans for rehabilitation and therapy clinics between FY2017 and FY2026, worth $10.4 million, with a median of $85,000 that is 0.57x the national class median. Its location quotient is 0.82x, the class sits 16 of 39 among Connecticut classes and the state ranks 29 of 54 on volume. The test finds no distinctive metric, and with both rate measures withheld, this page rests on size, structure and geography.

Who lends, and the regional pattern

The central half of loans runs from $40,000 to $200,000. The 7(a) programme made 32 loans and 504 made 5. Franchise brands appear in 8.1%. Only one lender reaches the table: Manufacturers and Traders Trust Company, with 13 loans worth $622,900, an average ticket far below the median band, which suggests many small equipment or working-capital loans. By planning region, South Central CT has 8 loans, Capitol 7, Naugatuck Valley 6, and Hartford and Western CT 5 each. Approvals rose to 6 in FY2025 and 9 loans and $3.2 million in FY2026 after no loans at all in FY2018.

Rates withheld

No cancellation figure and no charge-off figure is shown. Both rest on cohorts under the 30-loan threshold, so a percentage would be unreliable and could mislead in either direction. We make no claim about zero or low values. Lenders will want the practice's own history from the borrower, and should lean on the national class benchmarks in the meantime.

What the study should test

A Connecticut clinic study should begin with referral supply from orthopedic and primary care practices and with the payer mix, since commercial reimbursement in a dense state varies across insurers. It should price leasehold work and equipment against a median near $85,000, test therapist recruitment, and show debt service coverage on a visit ramp with a slow case. Competition from hospital-owned outpatient therapy should be counted. When a clinic is bought, the appraisal will be based on collections and referral stability, and the study should show how the existing referral sources stay after the transition.