Feasibility Study Data for the Rockford, IL Metro Area

Volume and loan size in Rockford

481 approvals for projects in Rockford, IL from FY2017 and FY2026 add up to $271.5 million gross. Rockford stands at 172 of 928 within all core-based areas on approvals. Separately, $251,000 stands as the midpoint; half of all loans falls between $125,000 and $568,000. In addition, locally the median is 1.21x compared with the median across the country, meaning loans tend to run higher than the figure for the nation. In practice, Rockford holds only its home counties, not a mix of unrelated markets: 481 approvals in total.

Who finances projects in Rockford

402 loans in 7(a) compare with 79 loans under 504. Worth noting: 13.9% of the loans carry franchised units in this area. Beyond that, in 7(a) loans, the leading names by approvals rank as The Huntington National Bank booking 82 loans totalling $15.9 million, St. Charles Bank & Trust Company, National Association holding 41 loans for $32.7 million; and UMB Bank, National Association with 37 loans totalling $13.5 million. For 504 loans, the top CDCs by number appear as Rockford Local Development Corporation at 62 loans for $48.4 million then Small Business Growth Corporation with 11 loans for $5.4 million. Here, the names here come from SBA files on 481 approvals; they describe loans held and nothing further, and not the standards that lenders ask for in Rockford.

Where the loans sit in Rockford

Gas station and truck stop with 24, 19 for full-service restaurant, limited-service restaurant with 19, and 9 in dental office come first among the classes. For context, 349 approvals lie outside all named classes, so the Rockford total is wider than any class table. Here, 6 approvals in grocery store within Rockford are too few to show a trend. Next, among the counties, Winnebago County (428) plus Boone County (53) take the largest shares. Next, across the years, FY2017 opens at 57 loans and $23.4 million; FY2025 sets the high mark at 60 loans and $34.4 million, while FY2026 completes the count at 53 loans and $29.8 million.

The outcome floors in Rockford

12.8% among FY2017 through FY2024 approvals in Rockford have been cancelled before disbursement, which is a floor; 14.7% is the upper bound counting undisbursed loans. For context, 3.6% of FY2017 through FY2021 loans disbursed in Rockford were charged off, a floor, out of 194 disbursed loans. Next, Loan Analytics withholds a five-year figure for Rockford, leaving the to-date floor to stand. Take each share printed here as a floor, since loans written lately got limited opportunity to be cancelled or charged off, across 481 loans. Each area in the file means the CBSA holding each loan's project county, under July 2023 boundaries as adopted; each county are tied by name, while a loan whose project county falls in no CBSA drops out of any area. In addition, counting every class and none, each 7(a) or 504 loan across Rockford is counted within its $271.5 million total.

Testing a project in Rockford

Throughout Rockford, any serious study covering a project starts from the particular site, not the average of the 481-loan file. Demand in Rockford is tested first: does Rockford's trade area support the sales in the plan, set against rivals in and near Winnebago County? Then, the median here stands at 1.21x measured against the median nationwide, so cost the actual scope against offers from local contractors. In practice, the debt service test ties revenue to cost for Rockford: projected net operating income set against the annual debt service, with a downside case. In practice, the last test, the appraisal, closes the loop in Rockford: collateral and as-complete value must support the sum requested. A client armed with an outside written study of Rockford, when first speaking with a bank, has answered the outcome floors early; the final word is with the lender and SBA alone in Rockford, so a study cannot guarantee it.