Restaurant Feasibility Study in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area

Philadelphia: full-service restaurant

Philadelphia approved full-service restaurant loans: 618 in FY2017 to FY2026, worth $420.3 million. Philadelphia ranks 8 of 821 for the class on 618 loans among metro areas; in Philadelphia, the class ranks 1 of 39. Philadelphia's location quotient reads 1.00x on 618 loans: a similar concentration. In Philadelphia, ranks and the 1.00x quotient, from 618 loans, distinguish the class; Philadelphia size is 1.27x the national median.

$350,000 marks the median of 618 loans, well above the national figure (1.27x), and $55,500 to $904,500 bounds Philadelphia's middle half. Of 618 loans in Philadelphia, 579 used 7(a) and 39 used 504. 7.1% is the franchise share of 618 loans; the rest are independents.

Philadelphia's 7(a) table, 108 loans at TD Bank, National Association, $27.9 million; 76 at Wilmington Savings Fund Society FSB, $76.4 million; 37 at Fulton Bank, National Association, $34.8 million; 34 at Manufacturers and Traders Trust Company, $7.1 million; 25 at Beacon Bank and Trust, $39.9 million. Philadelphia's 504 table, 16 loans at Empire State Certified Development Corporation, $18.2 million; 10 at Trenton Business Assistance Corporation, $13.4 million. Philadelphia: holders under 5 loans go unnamed. Philadelphia county counts, 618 loans: Philadelphia County, PA 160; Montgomery County, PA 90; Camden County, NJ 86; Bucks County, PA 68; Chester County, PA 48; Delaware County, PA 46; New Castle County, DE 44; Burlington County, NJ 44; Gloucester County, NJ 27.

The Philadelphia loans' fate

12.8% at minimum: Philadelphia's cancelled share through FY2024, counting Philadelphia's undisbursed loans: 13.8%. Philadelphia: 4.3% or more are charged off among 256 FY2017 to FY2021 loans. Philadelphia withholds its five-year measure, not zero. Philadelphia floors may rise with open loans. Philadelphia approvals ran from 75 loans and $38.0 million in FY2017 to 65 loans and $57.8 million in FY2026, peaking at 85 in FY2018 and dipping to 36 in FY2020. Philadelphia loans per year: FY2017 75, FY2018 85, FY2019 56, FY2020 36, FY2021 45, FY2022 54, FY2023 55, FY2024 64, FY2025 83, FY2026 65. Yearly dollars: FY2017 $38.0 million, FY2018 $55.6 million, FY2019 $30.7 million, FY2020 $20.7 million, FY2021 $48.6 million, FY2022 $40.8 million, FY2023 $37.8 million, FY2024 $39.9 million, FY2025 $50.5 million, FY2026 $57.8 million.

Philadelphia: the study's tests

Philadelphia approvals ran from 36 in FY2020 to 85 in FY2018; for Philadelphia, plan for stalled years. Philadelphia's quotient, 1.00x: count rivals by cuisine. Across 618 loans, evening cover counts in Philadelphia carries $350,000. Philadelphia: facing slow months, debt service holds with $420.3 million approved. For 618 loans in Philadelphia, ventilation costs outside $55,500 to $904,500 need cases. For 618 approvals in Philadelphia, appraisers split concept from building.

Philadelphia's 618 loans are placed by project county. Philadelphia follows the July 2023 delineation. Philadelphia drops unplaceable counties from $420.3 million. Treat 618 loans as a guide to Philadelphia, not a census.