Quick Service Restaurant Feasibility Study in Rhode Island
What SBA's own loan files show about limited-service restaurant lending in Rhode Island, and what a feasibility study for a project there has to test.
Rhode Island quick service: small loans, a strong class
Rhode Island's quick-service restaurants borrow modestly. The Rhode Island median was $145,000, which is 0.47x the national quick-service median; Rhode Island's quartiles span $74,550 to $291,500. Over FY2017 to FY2026 SBA approved 98 of these loans worth $22.9 million. The median is low against the nation, and the cell is read through its weight and its lenders.
Rhode Island ranks quick service 2 of 39 among its classes, and a 1.01x location quotient matches its national share almost exactly. Rhode Island ranks 40 of 54 among states for the class. Franchise units are 27.6% of Rhode Island loans, and approvals peaked at 16 in FY2025.
Rhode Island holders and floors
Santander Bank, National Association holds 14 Rhode Island loans worth $4.4 million, Navigant CU and Beacon Bank and Trust 9 each, BankNewport 8 and Bristol County Savings Bank 6 worth $470,000. On the 504 side, which takes 15 loans against 83 under 7(a), New England Certified Development Corporation holds 6 and Bay Colony Development Corporation 5.
For the FY2017 to FY2024 Rhode Island approvals, cancellations stand at 9.1% as a floor and 11.7% as a ceiling. Charge-offs are low: 2.2% of the 46 Rhode Island loans funded over FY2017 to FY2021 are now written off, and none failed inside five years, a 0.00% reading. Each Rhode Island rate is a floor.
What a Rhode Island quick-service study must test
Providence County holds 61 of the approvals, followed by Washington with 11, Kent and Newport with 9 each and Bristol with 8. A feasibility study must test foot and vehicle traffic at the site, seasonal swings in Rhode Island sales, and the counter-service competition within walking or short driving distance. Cost should cover fit-out and kitchen equipment at current Rhode Island quotes. Coverage of the payment should rest on documented sales at the actual loan, which for most Rhode Island deals sits between $74,550 and $291,500. For a franchise unit, royalty and remodel obligations must be part of the cash flow. If the Rhode Island loan includes real estate, it needs an appraisal that stands apart from the restaurant.
SBA 7(a) and 504 limited-service restaurant loans in Rhode Island
| Loans approved, FY2017 to FY2026 | 98 |
|---|---|
| Gross dollars approved | $22.9 million |
| Median loan | $145,000 |
| Middle half of loans, from | $74,550 |
| Middle half of loans, to | $291,500 |
| SBA 7(a) loans | 83 |
| SBA 504 loans | 15 |
| Franchise share of loans | 27.6% |
| Rank among states for limited-service restaurant loans | 40 of 54 |
| Rank of limited-service restaurant among classes in Rhode Island | 2 of 39 |
| Location quotient (share of loans against the national share) | 1.01x |
| Median loan against the national median for the class | 0.47x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | 9.1% |
|---|---|
| The same, counting loans still undisbursed as cancelled (a ceiling) | 11.7% |
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | 2.2% |
| Charged off within five years of approval | 0.00% |
| Loans in that cohort | 46 |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
SBA 7(a) and 504 limited-service restaurant loans approved in Rhode Island, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 11 | $1.9 million |
| FY2018 | 9 | $1.5 million |
| FY2019 | 9 | $1.8 million |
| FY2020 | 10 | $1.2 million |
| FY2021 | 11 | $2.3 million |
| FY2022 | 9 | $4.8 million |
| FY2023 | 8 | $1.5 million |
| FY2024 | 10 | $2.4 million |
| FY2025 | 16 | $4.2 million |
| FY2026 | 5 | $1.4 million |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| New England Certified Development Corporation | 6 | $2.3 million |
| Bay Colony Development Corporation | 5 | $1.4 million |
| Lender | Loans | Dollars |
|---|---|---|
| Santander Bank, National Association | 14 | $4.4 million |
| Navigant CU | 9 | $2.3 million |
| Beacon Bank and Trust | 9 | $924,400 |
| BankNewport | 8 | $1.0 million |
| Bristol County Savings Bank | 6 | $470,000 |
Where the loans are, by county
| County | Loans |
|---|---|
| PROVIDENCE | 61 |
| WASHINGTON | 11 |
| KENT | 9 |
| NEWPORT | 9 |
| BRISTOL | 8 |
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; Loan Analytics loan-outcome cell SA-RI-C35.
Related feasibility study pages
- Rhode Island feasibility studies for SBA and USDA loans
- Feasibility studies for limited-service restaurant projects
- SBA 7(a) Quick Service Restaurant Feasibility Study
- SBA 504 Quick Service Restaurant Feasibility Study
- Feasibility studies for SBA 7(a) and 504 loans
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