SBA 7(a) Assisted Living Feasibility Study in Utah

What Utah adds to the national assisted living picture

Set beside the country, Utah contributes 55 SBA 7(a) loans for assisted living projects, $97.8 million overall, FY2017 to FY2026. In Utah the class stands 13 of 39, and Utah itself ranks 10 among states for assisted living. The $1.2 million median is 1.57x of the assisted living median nationwide under SBA 7(a), so Utah sits above what assisted living tickets show elsewhere. In Utah, half of assisted living loans fall from $454,200 to $2.9 million, and franchising marks 40.0% of Utah assisted living loans.

The assisted living holder table and map for Utah

Mountain America FCU tops the Utah assisted living holder list on 19 loans and $21.7 million; America First Federal Credit Union (8 loans, $18.7 million) is second in Utah; Live Oak Banking Company (5 loans, $13.1 million) is third. Utah names follow SBA's current-holder field. Salt Lake County, 24 loans, Utah County, 11 loans, Davis County, 6 loans, Box Elder County, 3 loans and Washington County, 3 loans: those are the leading Utah assisted living places.

Year-by-year volume in Utah

The Utah assisted living record opens at 12 loans and $15.7 million in FY2017, peaks at 12 loans ($15.7 million) in FY2017, and Utah closes the series at 3 loans and $685,000 in FY2026.

Floors for assisted living lenders to read

For assisted living approvals in Utah through FY2024, SBA's Utah records support a cancellation floor of 10.4% and a ceiling of 10.4%. The funded FY2017 to FY2021 Utah assisted living cohort has 38 loans; charge-offs so far stand at 5.3%, and 0.00% came inside five years. Both assisted living figures are minimums.

Utah: what an assisted living study has to test

The central question in Utah is whether the senior population within reach can pay for the product, since many residents pay privately. A study should count existing beds and licensed homes in the market, test construction or conversion cost against loans near $1.2 million, and show coverage at stable occupancy following a careful fill period, with a slower fill shown beside it. Staffing cost and licensing requirements go into the budget, and licensed beds earn the income against which the home is valued.

Utah senior care and the nursing line

Homes lacking on-site nursing alone carry an industry code, and memory care has none. A Utah project that includes nursing is counted among skilled nursing and continuing care, so a mixed-acuity plan should be read against those pages too.