Restaurant Feasibility Study in the Charleston-North Charleston, SC Metro Area

How Charleston-North Charleston ranks for restaurant

59 SBA loans worth $49.3 million were approved in Charleston-North Charleston, SC from FY2017 to FY2026, a rank of 88 of 821 among metro and micro areas. The restaurant share of Charleston-North Charleston's loans is 0.87x the national share: Charleston-North Charleston weights the class lightly. Ranked inside Charleston-North Charleston, the class sits 1 of 39, a major line locally. Each Charleston-North Charleston project county is in SC.

In Charleston-North Charleston, the median loan is $517,500, and the quartile edges sit at $150,000 and $1.0 million. The median is 1.88x the class median nationally, so Charleston-North Charleston borrowers draw bigger loans. Charleston-North Charleston programs split 53 to 7(a) and 6 to 504, shaping each request. A 504 loan in Charleston-North Charleston finances buildings and machinery. Franchised units account for 16.9% of loans in Charleston-North Charleston.

Restaurant lenders in Charleston-North Charleston

Among 7(a) loans in Charleston-North Charleston, SBA names as holders Pinnacle Bank (TN), 7 loans for $10.0 million; and SouthState Bank, National Association, 5 loans for $4.0 million. The 504 table for Charleston-North Charleston is empty. Charleston-North Charleston rows are SBA records. Charleston-North Charleston lenders hold or held these loans. The Charleston-North Charleston table describes files, not practices. Charleston-North Charleston rows state no lender requirement. In Charleston-North Charleston, by county, Charleston County, SC records 47 loans; next come Berkeley County, SC with 7 and Dorchester County, SC with 5.

Charleston-North Charleston's published years show FY2017: 5 loans, $3.6 million, FY2021: 14 loans, $11.5 million, FY2022: 7 loans, $13.5 million, FY2023: 8 loans, $4.5 million and FY2024: 6 loans, $1.1 million. FY2018 through FY2020, FY2025 and FY2026 are withheld for Charleston-North Charleston because few loans back them, so a Charleston-North Charleston gap is unpublished, nothing more. The Charleston-North Charleston cancellation floor is withheld. Too few Charleston-North Charleston approvals exist to print one. The Charleston-North Charleston charge-off floor is withheld. Charleston-North Charleston's thin cohort stays unpublished. Every Charleston-North Charleston figure follows the 2023 federal definition, where Charleston-North Charleston loans are placed by county, while Charleston-North Charleston leaves out unplaced counties.

A restaurant study for Charleston-North Charleston: the tests

For a restaurant project in Charleston-North Charleston, SC, the record gives context; a study proves. Charleston-North Charleston analysis should establish coverage through one weak quarter. The Charleston-North Charleston file should document the lease term against the loan term. In Charleston-North Charleston, a study has to test whether liquor sales are in the plan. For Charleston-North Charleston, the study should address a realistic opening date and ramp. A Charleston-North Charleston study begins by testing parking, visibility and walk-by traffic. Charleston-North Charleston tests demand, cost, coverage and value. A Charleston-North Charleston study guarantees nothing to lenders.