Physical Therapy Clinic Feasibility Study in the Phoenix-Mesa-Chandler, AZ Metro Area

Phoenix-Mesa-Chandler therapy clinics borrow well above what their national peers do: the $306,900 median loan is 2.05x the national class figure, and loans in the central half stretch from $103,000 to $841,200. The area is 13 of 406 in the national ladder for this class, with a quotient of 1.07x, close to parity, with 12 of 39 as the class's rank inside the area. The FY2017 to FY2026 record is 59 approvals for $36.7 million.

Programs and lenders

The file lists 48 loans under 7(a) and 11 under 504; the real estate loans are likely clinics buying their buildings. JPMorgan Chase Bank, National Association appears at 11 loans and $3.2 million. Enterprise Bank & Trust has only 5 loans but $5.4 million, a heavy average that fits an acquisition or building purchase. SBA masks the franchise share for this cell.

The yearly pattern

FY2017 gave 6 loans and $1.7 million, FY2018 8 loans and $1.4 million and FY2020 6 loans and $2.1 million. FY2021 gave 6 loans yet $7.2 million, and FY2023 7 loans and $3.8 million. FY2025 posted 5 loans and $2.5 million, FY2026 6 loans and $6.0 million. Rows for FY2019, FY2022 and FY2024 are masked, and SBA also hides the cancellation rate and the loss rate on charge-offs, so no loss floor is on file for this cell. Masked is not zero.

Setting the case for a larger note

A bigger-than-usual note demands support. The study should establish whether the project is a single-site practice, an acquisition or a build to own, because the answer changes the comparables. Referral sources, payer mix and wait times should be tested against competing clinics along the valley's growth corridors. Heat and migration make household counts shift, so the study should test the demand base with current counts. Therapist hiring is often the pacing item, so payroll should run ahead of revenue in the cash model. Test costs against the $306,900 median, and run the loan payment on a slow visit ramp. The Phoenix metro is the July 2023 delineation, and a lender reading this page sees SBA's roll of loans a bank carries or carried, nothing about its underwriting. The appraiser should value clinic income and any owned building separately, and the study should state how many treatment rooms, and how many therapists, the project assumes at maturity.