Feasibility Study Data for the Providence-Warwick, RI-MA Metro Area

Providence-Warwick lending at a glance: volume and loan size in Providence-Warwick, RI-MA

The agency approved 4,197 SBA loans for projects in the Providence-Warwick, RI-MA metro area between FY2017 and FY2026, and $1.43 billion in gross dollars stands behind them. Providence-Warwick holds rank 34 of 928 against every other statistical area, Providence-Warwick among them. A typical Providence-Warwick loan is $132,000, while the middle half span $50,000 to $330,000. Against the country, Providence-Warwick borrowers take smaller loans, since 0.63x is the local median against the national median. Nationally, loans run bigger than they do here.

Providence-Warwick, RI-MA: 7(a), 504 and the holders behind Providence-Warwick

The program split in Providence-Warwick is 3,473 under 7(a) and 724 under 504, which makes 7(a) the program most borrowers use. Franchise brands account for 6.9% of loans. 415 loans worth $75.4 million put Eastern Bank first among 7(a) holders, followed by Santander Bank, National Association with 341 loans and $129.6 million. Bristol County Savings Bank holds 294 loans; Beacon Bank and Trust has 259. For 504, the top name is Ocean State Business Development Authority, holding 260 loans worth $149.0 million; Bay Colony Development Corporation comes next with 172 loans. Lender figures here are SBA records, nothing more. A row for Eastern Bank appears on the strength of SBA's holder field; the list neither praises nor faults any holder.

Providence-Warwick by asset class and by county in Providence-Warwick, RI-MA

Most of the Providence-Warwick total sits outside the tracked asset classes: 2,996 loans filed under other codes. The lines below are a partial view. Among listed classes, full-service restaurant leads with 307 loans, then limited-service restaurant with 143, and liquor store at 79. Lower in the table come child care center with 76 and automotive Providence-Warwick mechanical repair (car and truck) at 73. By county, Providence County, RI accounts for 1,520 loans and then Bristol County, MA at 1,278, with Kent County, RI third at 565. A project in one county meets other land costs, and the area label hides that spread.

Providence-Warwick: cancellations, charge-offs and caveats in Providence-Warwick, RI-MA

A minimum of 13.6% of Providence-Warwick approvals made in FY2017 to FY2024 never funded, and the ceiling, which treats loans still undisbursed as cancelled, is 15.0%. Of 1,864 disbursed Providence-Warwick loans in the FY2017 to FY2021 cohort, at least 4.8% have been charged off, of which 3.5% came inside five years of approval. Loans keep aging, and these rates are floors, and can only rise. The busiest year was FY2017, with 576 loans for $122.6 million. FY2020, with 308 loans and $120.6 million, was the weakest year before FY2026. A loan joins the Providence-Warwick, RI-MA figures through its project county, as with Providence County, RI or Bristol County, MA. Then counties are assigned under the July 2023 delineation, so a loan from an unmatched Providence-Warwick county appears nowhere.

Providence-Warwick, RI-MA: what a study for a Providence-Warwick project must prove

In Providence-Warwick, a study must start from the particular county, since area totals mix several markets. Since full-service restaurant leads the Providence-Warwick class table, it has to examine Providence-Warwick dining rooms and their weeknight trade and the lease term against payback, then what prime cost leaves for debt. A Providence-Warwick request in limited-service restaurant depend on competing quick-service sites nearby and on the delivery platforms' share of sales. A Providence-Warwick operator's coverage needs a poor-year test; the appraisal needs local sales and rents behind it. Since Providence-Warwick loans skew small, a request above the middle half should explain why this project warrants it.