Restaurant Feasibility Study in the Springfield, IL Metro Area
What SBA's own loan files show about full-service restaurant lending in the Springfield, IL Metro Area, and what a feasibility study for a project there has to test.
Springfield dining rooms: a first-place class with modest loans
Full-service restaurants lead the class order in the Springfield, IL Metro Area at 1 of 39, with a 1.57x location quotient showing a heavier local weight than the nation gives them. On the metro and micro list the area holds 145 of 821. Loans run smaller than the nationwide norm: the median of $246,000 is 0.89x the nationwide median. Sangamon County has all 32 approvals, which together come to $10.9 million across FY2017 to FY2026.
A year-by-year look
The middle of the range runs from $77,750 to $355,000. Program counts stand at 27 for 7(a) and 5 for 504. Counts are shown for five years: FY2021 and FY2023 each had no approvals and $0, FY2024 had 6 loans and $2.5 million, FY2025 had 6 loans and $758,000, and FY2026 had 5 loans and $3.6 million. FY2026 is a complete year. Bank of Springfield shows in SBA's holder data with 5 loans worth $1.8 million. The franchise share is hidden.
Floors not printed
This page cannot give a cancellation floor or a charge-off floor. The early group of loans disbursed in FY2017 to FY2021 is too thin for Loan Analytics to publish one, and a missing floor must not be taken as zero.
What a Springfield restaurant study has to prove
Because two years had no approvals at all, the study should not assume that financing is always at hand, and it should say which lenders the borrower approached. Sales should be rebuilt from seat turns and the check per guest, with the site's visibility and parking tested and the concept set against nearby full-service rooms. Food and labor cost percentages need support from comparable operators, and a liquor license position must be documented. At a $246,000 median the build-out can be modest, so a larger request must make its case on paper. Labor cost, delivery and takeout shares, and the lease length compared with the loan term all belong in the working papers. Lenders examine coverage of the payment after rent, and the appraisal of a restaurant building has to ask whether another operator could use it.
SBA full-service restaurant loans in the Springfield, IL Metro Area
| Loans approved, FY2017 to FY2026 | 32 |
|---|---|
| Gross dollars approved | $10.9 million |
| Median loan | $246,000 |
| Middle half of loans, from | $77,750 |
| Middle half of loans, to | $355,000 |
| SBA 7(a) loans | 27 |
| SBA 504 loans | 5 |
| Franchise share of loans | withheld |
| Rank among metro and micro areas for full-service restaurant loans | 145 of 821 |
| Rank of full-service restaurant among the classes in this area | 1 of 39 |
| Location quotient (share of loans against the national share) | 1.57x |
| Median loan against the national median for the class | 0.89x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | not reported: fewer than 30 loans in the cohort |
|---|---|
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | withheld |
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 full-service restaurant loans approved in the Springfield, IL Metro Area, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | withheld | withheld |
| FY2018 | withheld | withheld |
| FY2019 | withheld | withheld |
| FY2020 | withheld | withheld |
| FY2021 | 0 | $0 |
| FY2022 | withheld | withheld |
| FY2023 | 0 | $0 |
| FY2024 | 6 | $2.5 million |
| FY2025 | 6 | $758,000 |
| FY2026 | 5 | $3.6 million |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| Bank of Springfield | 5 | $1.8 million |
Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.
Where the loans are, by county
| County | Loans |
|---|---|
| Sangamon County, IL | 32 |
Counties with 5 or more loans; smaller ones are not listed.
Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.
A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MA-44100-C34.
Related feasibility study pages
- Full-service restaurant feasibility study company
- Feasibility Study Data for the Springfield, IL Metro Area
- Restaurant Feasibility Study in Illinois
- Illinois feasibility study consultant
- Feasibility Study Data by Metro Area
- SBA feasibility study consultant
- Restaurant Feasibility Study in the New York-Newark-Jersey City, NY-NJ Metro Area
- Restaurant Feasibility Study in the Los Angeles-Long Beach-Anaheim, CA Metro Area
- Restaurant Feasibility Study in the Chicago-Naperville-Elgin, IL-IN Metro Area
- Restaurant Feasibility Study in the Dallas-Fort Worth-Arlington, TX Metro Area
- Restaurant Feasibility Study in the Boston-Cambridge-Newton, MA-NH Metro Area
- Restaurant Feasibility Study in the Atlanta-Sandy Springs-Roswell, GA Metro Area
Loan Analytics prepares the feasibility study a lender reads before it commits: for a full-service restaurant project in the Springfield, IL Metro Area, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.
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