Physical Therapy Clinic Feasibility Study in Oklahoma

Above-median loans, small dollars

Oklahoma physical therapy lending is small in total but large per loan compared with the class elsewhere. SBA approved 38 loans for rehabilitation and therapy clinics across FY2017 to FY2026, totalling $15.9 million. The median of $195,150 is 1.30x of the class norm nationally, and half of the loans sit between $63,250 and $500,000. The state is 26 of 54 for the class, clinics hold 16 of 39 places in Oklahoma's mix, and a location quotient of 1.25x shows a bigger share than nationally. No outcome metric is an outlier for this cell.

Programs and geography

Nearly every loan is 7(a), 36 of them against 2 under 504, and franchise loans are 5.3% of the cell. BancFirst is the single lender named, with 7 loans and $2.7 million. Oklahoma County has 15 loans and Tulsa County 11, so those two counties hold most of the record, while Cleveland has 4 and Washington 3.

Calendar and the cancellation range

FY2018 recorded just 2 loans and $135,000, while FY2020 produced 6 loans and $2.7 million, FY2024 6 loans and $3.3 million and FY2025 5 loans and $4.3 million, the largest year in dollars. Oklahoma therapy files were cancelled at no less than 10.0% for approvals through FY2024, while the ceiling, which counts undisbursed loans, is 13.3%. No loss rate appears for Oklahoma therapy: the early cohort is under the 30 loan floor.

Planning a therapy clinic here

A therapy clinic in Oklahoma has to win on referrals, so the study should name the physician groups, hospitals and employers that will send patients, and test how much of the schedule is covered by commercial insurance, Medicare and workers compensation. Count the competing clinics and the therapists available to hire. At loan sizes near $195,150, most projects are leased suites with equipment and a build out, and the budget should include insurer credentialing delays, which postpone revenue. Coverage must be shown on visits per day that ramp slowly, with a lower reimbursement case. Staff cost is the other swing factor: therapist wages and the pace at which new hires fill their schedules should be written into the model rather than assumed. Goodwill and equipment dominate the appraisal, which leaves cash flow as the real security, and a cancellation range near one in ten adds to that caution.