Feasibility Study Data for the Santa Fe, NM Metro Area

What the record shows for Santa Fe

304 loans for projects in Santa Fe, NM over FY2017 through FY2026 add up to $161.4 million gross. Beyond that, Santa Fe comes in at 236 of 928 among the complete list of CBSAs on approvals. Then, $214,500 marks the midpoint; the inner half runs from $50,000 to $572,500. In turn, the typical loan here is 1.03x in proportion to the median nationwide, leaving the typical loan more than what the country sees. In addition, Santa Fe is limited to its home counties, and never the blend a state page gives: 304 loans on file.

Lenders and programs in Santa Fe

252 SBA 7(a) loans sit beside 52 approvals under 504. Next, 7.9% of the loans on file go to a franchise brand in this area. Next, under 7(a), the largest lending names by approvals come out as Century Bank holding 48 loans and $8.2 million, Wells Fargo Bank National Association holding 36 loans worth $11.4 million, and U.S. Bank, National Association holding 28 loans worth $6.4 million. Next, for 504 lending, the leading development companies by number appear as Capital Certified Development Corporation with 42 loans and $16.4 million then Enchantment Land Certified Development Company holding 5 loans for $1.3 million. The names here are taken from SBA data for 304 loans; they list completed approvals only, not the terms that lenders ask for around Santa Fe.

Asset classes and counties in Santa Fe

Full-service restaurant at 15, 9 for dental office, hotel and motel with 7, then beverage manufacturing at 6 top the class table. In turn, 230 approvals lie outside the named classes, so its $161.4 million total reaches beyond the class list. Next, 5 loans in veterinary clinic within Santa Fe are too few for any claim. Beyond that, Santa Fe County carries all of 304 loans, so area and county coincide. In turn, taking each approval year, FY2017 starts at 48 loans and $22.7 million; the opening year stays the high, and FY2026, a complete fiscal year, finishes the sequence at 31 loans and $12.0 million.

What the floors allow in Santa Fe

13.6% of FY2017 to FY2024 approvals in Santa Fe were cancelled before they funded, a floor. Separately, Loan Analytics withholds the upper figure for Santa Fe, so only the floor stands. Next, 3.6% of FY2017 to FY2021 disbursed loans in Santa Fe were charged off, which is a floor, in a cohort of 140 disbursed loans. In turn, Loan Analytics withholds the five-year rate for Santa Fe, and the to-date floor stands alone. Next, treat each percentage above like a minimum, since loans approved in the latest years have had limited opportunity to cancel or go bad, and the file holds 304 loans. Then, membership on the page is defined as the statistical area containing each loan's county of project, on the July 2023 boundaries as published; every county are paired by name, so a loan whose site county cannot be assigned drops out of any area without exception. Whatever its class, each 7(a) or 504 loan in Santa Fe is tallied towards its $161.4 million total.

Testing a project in Santa Fe

For Santa Fe, a study for a site must begin with the actual proposal, never the 304-loan file. Market demand in Santa Fe heads the list: will Santa Fe's trade area sustain the volume needed, against competitors around Santa Fe County? The area median comes to 1.03x compared with the median nationwide, cost the actual scope against tenders from area builders. Worth noting: the coverage test joins revenue to cost for Santa Fe: projected operating income measured on the debt payments, plus a stress case. Separately, the appraisal caps the work for Santa Fe: value as built must cover the loan proposed. Next, a borrower who brings an independent report for Santa Fe, when first meeting a bank, has dealt with the floors up front; approval rests with lender and SBA in Santa Fe, so a study cannot guarantee it.