SBA 7(a) Flex Space Feasibility Study in North Carolina
What SBA's own loan files show about SBA 7(a) lending to nonresidential lessor (flex, office and retail investor buildings) projects in North Carolina, and what a feasibility study for an SBA 7(a) loan there has to test.
Reading the North Carolina flex-space lessor cell
For flex-space lessor in North Carolina, this page slices SBA's flex-space lessor record: SBA 7(a) loans to flex-space lessor projects. They number 28, with $27.3 million approved from FY2017 to FY2026. North Carolina is 20 among states on flex-space lessor loan count; the class is 20 of 39 among North Carolina financed classes. The North Carolina median of $534,000 stands at 0.89x of what flex-space lessor borrowers take nationally under SBA 7(a), and $323,750 to $1.4 million spans the middle half; 7.1% of North Carolina flex-space lessor loans carry franchise flags.
Where the flex-space lessor loans sit
SBA's North Carolina flex-space lessor holder table names no flex-space lessor holder large enough to list. North Carolina flex-space lessor holders are as SBA reports today. North Carolina flex-space lessor counties: Mecklenburg 5, Guilford 4, Chowan 3, Wake 3, Johnston 2.
The yearly North Carolina pattern
North Carolina flex-space lessor volume moved around: 3 loans in FY2018, 4 in FY2020, 1 in FY2022 and 0 in FY2025 worth $0. The North Carolina high mark, 8, came in FY2017. FY2024 and FY2025 and FY2026 show no North Carolina flex-space lessor approvals.
What the flex-space lessor floors say
North Carolina flex-space lessor cancellation has no rate here; the North Carolina cohort is too small, and flex-space lessor lenders should not read that as zero. North Carolina flex-space lessor charge-off rates rest on few flex-space lessor loans funded in North Carolina for FY2017 to FY2021; North Carolina lenders find it held back, never zero.
North Carolina flex space: the evidence a lender wants
A North Carolina study should supply leasing comparables for flex, office and light-industrial buildings, identify the tenant types the layout will draw, and estimate months to stabilise. Cost belongs beside loans around $534,000, coverage should be shown at slow leasing and at a tenant loss, and the appraiser prices the building off net income. Growth corridors and access to interstates often decide which submarkets lease.
North Carolina flex space and the lessor code
The lessor code pools flex with office, retail and banquet-hall buildings, and the class nearly stops from FY2024, so thin recent years in North Carolina reflect the record, not demand. Lean on the earlier years.
SBA 7(a) nonresidential lessor (flex, office and retail investor buildings) loans in North Carolina
| Loans approved, FY2017 to FY2026 | 28 |
|---|---|
| Gross dollars approved | $27.3 million |
| Median loan | $534,000 |
| Middle half of loans, from | $323,750 |
| Middle half of loans, to | $1.4 million |
| Franchise share of loans | 7.1% |
| Rank among states for SBA 7(a) nonresidential lessor (flex, office and retail investor buildings) loans, by number of loans | 20 |
| Rank of nonresidential lessor (flex, office and retail investor buildings) among classes in North Carolina | 20 of 39 |
| Median loan against the national SBA 7(a) 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) | not reported: fewer than 30 loans in the cohort |
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 7(a) nonresidential lessor (flex, office and retail investor buildings) loans approved in North Carolina, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 8 | $6.6 million |
| FY2018 | 3 | $2.2 million |
| FY2019 | 5 | $929,300 |
| FY2020 | 4 | $2.4 million |
| FY2021 | 4 | $10.0 million |
| FY2022 | 1 | $320,000 |
| FY2023 | 3 | $4.9 million |
| FY2024 | 0 | $0 |
| FY2025 | 0 | $0 |
| FY2026 | 0 | $0 |
Where the loans are, by county
| County | Loans |
|---|---|
| MECKLENBURG | 5 |
| GUILFORD | 4 |
| CHOWAN | 3 |
| WAKE | 3 |
| JOHNSTON | 2 |
| NEW HANOVER | 2 |
| ALAMANCE | 1 |
| BURKE | 1 |
| CLAY | 1 |
| DUPLIN | 1 |
Flex space cannot be separated from office or retail lessors. Nearly stops from FY2024. Shared code: Flex, office, retail and banquet hall rental share 531120.
SBA lending in this class almost stops from FY2024: SBA treats most lessor businesses as passive and ineligible, so the record here is mostly older loans.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; Loan Analytics loan-outcome cell SAP-NC-C09-7A.
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