Quick Service Restaurant Feasibility Study in Utah
What SBA's own loan files show about limited-service restaurant lending in Utah, and what a feasibility study for a project there has to test.
Credit unions near the top of the Utah file
Utah's quick service restaurant lending is notable for who makes it. Mountain America FCU is the current holder of 31 Utah loans and America First Federal Credit Union 26, ahead of Central Bank with 24 and Zions Bancorporation, National Association with 18. America First Federal Credit Union's 26 loans total $12.9 million, more dollars than the 31 Mountain America FCU loans at $9.5 million. For a Utah borrower, that means credit unions are a first call, not an afterthought.
Over FY2017 to FY2026 there were 299 Utah approvals worth $159.4 million. Quick service is 2 of 39 classes within Utah, but the location quotient of 0.73x shows it takes a smaller share of Utah SBA lending than of SBA lending nationwide, and Utah ranks 22 of 54 states for the class. Utah's median, cancellation and charge-off figures all stay short of what we would need to call Utah quick service distinct from Utah lending and the class nationally: the median loan is $350,000, 1.13x its national counterpart, and Utah's middle half spans $162,000 to $627,000.
A settled cancellation record
Utah's cancellation floor and ceiling are both 11.5% for FY2017 to FY2024 approvals, which means effectively no Utah approval in that window is still waiting to fund: the record is as good as complete. Of 127 Utah loans disbursed in FY2017 through FY2021, 4.7% or more have been charged off, and 3.9% before year five. Franchise concepts take 48.2% of Utah loans; SBA 7(a) carried 259 approvals and SBA 504 carried 40.
Volume has grown from 16 Utah approvals in FY2020, worth $5.5 million, to 38 in FY2024 and 44 in FY2026, with $24.0 million approved in FY2024 and again in FY2026.
What a Utah quick service study must test
Salt Lake County holds 105 approvals and Utah County 61, with Davis, Weber and Washington counties at 24, 21 and 20, so demand work should focus on the parcel: traffic, access and the units already competing nearby. Cost must include the build and any land or ground lease. Debt service coverage should be tested after franchise costs where a brand is involved, and for the non-franchise borrowers, on the owner's own sales history. The appraisal should support the Utah real estate for a second restaurant user if the first concept fails.
SBA 7(a) and 504 limited-service restaurant loans in Utah
| Loans approved, FY2017 to FY2026 | 299 |
|---|---|
| Gross dollars approved | $159.4 million |
| Median loan | $350,000 |
| Middle half of loans, from | $162,000 |
| Middle half of loans, to | $627,000 |
| SBA 7(a) loans | 259 |
| SBA 504 loans | 40 |
| Franchise share of loans | 48.2% |
| Rank among states for limited-service restaurant loans | 22 of 54 |
| Rank of limited-service restaurant among classes in Utah | 2 of 39 |
| Location quotient (share of loans against the national share) | 0.73x |
| Median loan against the national median for the class | 1.13x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | 11.5% |
|---|---|
| The same, counting loans still undisbursed as cancelled (a ceiling) | 11.5% |
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | 4.7% |
| Charged off within five years of approval | 3.9% |
| Loans in that cohort | 127 |
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 Utah, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 31 | $17.1 million |
| FY2018 | 37 | $19.5 million |
| FY2019 | 25 | $11.4 million |
| FY2020 | 16 | $5.5 million |
| FY2021 | 29 | $21.1 million |
| FY2022 | 32 | $16.9 million |
| FY2023 | 26 | $10.1 million |
| FY2024 | 38 | $24.0 million |
| FY2025 | 21 | $9.8 million |
| FY2026 | 44 | $24.0 million |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| Mountain America FCU | 31 | $9.5 million |
| America First Federal Credit Union | 26 | $12.9 million |
| Central Bank | 24 | $6.4 million |
| Zions Bancorporation, National Association | 18 | $6.7 million |
| Community Banks of Colorado, A Division of NBH Bank | 12 | $14.8 million |
Where the loans are, by county
| County | Loans |
|---|---|
| SALT LAKE | 105 |
| UTAH | 61 |
| DAVIS | 24 |
| WEBER | 21 |
| WASHINGTON | 20 |
| TOOELE | 12 |
| CACHE | 9 |
| IRON | 7 |
| DUCHESNE | 6 |
| RICH | 6 |
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-UT-C35.
Related feasibility study pages
- Utah feasibility studies for SBA and USDA loans
- Limited-service restaurant feasibility study consultant
- SBA 7(a) Quick Service Restaurant Feasibility Study
- SBA 504 Quick Service Restaurant Feasibility Study
- SBA feasibility study consultant
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