Physical Therapy Clinic Feasibility Study in Kansas

Where Kansas sits for therapy clinics

Physical therapy and rehabilitation clinics in Kansas are a mid-table story that becomes interesting once the ratios are read together. From FY2017 to FY2026, SBA approved 33 Kansas clinic loans, worth $12.8 million in gross dollars. Kansas ranks 30 of 54 among states for these loans, and within Kansas itself clinics sit at 14 of 39 on the class table. The location quotient of 1.28x shows that therapy clinics take a bigger share of the state's loans than of loans nationwide. The median loan of $100,000 is only 0.67x the national median for the class, so Kansas clinics borrow less per loan than clinics elsewhere.

Loan sizes and program mix

The middle half of Kansas approvals runs from $42,300 to $403,000, a range that covers a lease build-out and equipment at the low end and an owner-occupied clinic at the high end. SBA 7(a) made 30 of the loans and SBA 504 made 3, so the large majority of clinics financed equipment, improvements and working capital rather than buying a building with long-term fixed-rate debt. Franchising is absent: the franchise share is 0.00%, which fits a class dominated by locally owned practices led by a licensed therapist. A lender reading a Kansas request should expect an independent practice, and a borrower should be ready to explain referral sources, since no brand supplies them.

Lenders and geography

Of the 7(a) loans, 8 sit with The Bank of Missouri ($1.2 million) and 5 with First National Bank of Omaha ($1.4 million), each as SBA names the current holder. The figures describe loans these banks hold or held, and say nothing about their policies. Johnson County leads with 14 loans and Sedgwick follows with 9, which places most activity in the Kansas City and Wichita areas. Crawford County has 4 and Wyandotte 2, and Barton, Butler, Ellis and Finney have a single loan each. A clinic proposed outside the two leading counties has fewer local precedents to point to. The latest year, FY2026, is also the busiest, at 9 approvals after a single one in FY2025.

Outcome floors

Cancellation and failure cannot be quantified for Kansas clinics here: too few loans sit in each cohort for a stable percentage, so nothing is printed and neither is called zero. Remember that percentages on other pages are floors, because loans not yet closed out may still be cancelled or charged off.

Clinic demand, payers and staffing

A study for a Kansas therapy clinic has to test demand before it tests the building: physician and surgeon referral patterns, the payer mix across private plans, Medicare and workers compensation claims, and the supply of licensed therapists willing to work in the chosen county. Reimbursement is the central revenue risk, so the pro forma should show visits per therapist per day against a realistic rate, with a slower ramp for a new location. Build-out and equipment cost should be set against a typical loan near $100,000, and debt service coverage shown for the first two years. If the practice buys its space, the appraisal will rest on the income, and the visit counts and rates it assumes must be ones an appraiser could accept.