SBA 7(a) Medical Office Feasibility Study in Rhode Island

The Rhode Island SBA 7(a) medical office book at a glance

For medical office projects in Rhode Island, SBA logged 33 approvals, $12.2 million in gross dollars, in Rhode Island under 7(a) across FY2017 to FY2026. Standing: 37 in the Rhode Island SBA 7(a) medical office loan count, and 7 of 39 among Rhode Island's own classes. Midpoint size: $126,000. Compared with medical office (SBA 7(a)) lending nationwide, Rhode Island runs at 0.50x on that median, a smaller ticket size. From $88,000 up to $200,000 sits half of the loans in Rhode Island. Franchised clients account for 0.00% of the 33 loans. Rhode Island medical office lending blends into its parents across 33 loans: nothing in Rhode Island clears the distinctness margin, so Rhode Island readers must read Rhode Island's lender, county and timing detail.

Institutions, counties and timing in Rhode Island

At the top of the institutions list for Rhode Island: TD Bank, National Association at $2.1 million across 6 loans; Citizens Bank, National Association at $660,500 across 5 loans. The Rhode Island medical office ranking follows whoever holds each Rhode Island loan; whichever lender wrote any one of those 6 files could be a different institution. Within Rhode Island, the counties with the most loans are Providence with 22, Kent with 7 and Washington with 4. Year by year in Rhode Island, approvals peaked at 9 loans, worth $2.0 million, in FY2018, while the latest year shown, FY2026, carries 0 loans worth $0; the series opened in FY2017 at 5.

Rhode Island: outcomes, read as minimums for medical office

Cancellation after approval is left blank for Rhode Island medical office, since the 33-loan record offers too few medical office loans from the FY2017 to FY2024 cohort to support a rate; a medical office blank for Rhode Island means held back, never a zero. Too few of the 33 medical office loans funded in Rhode Island between FY2017 and FY2021 to support a medical office charge-off rate, which is why the figure stays withheld and the medical office gap is not a zero. Lenders should treat these Rhode Island rates, drawn from 33 loans, as minimums, never as settled results. SBA files the 33 Rhode Island borrowers by industry code, not by medical office building or concept, so medical office here follows the code groupings, not medical office's physical use of a Rhode Island site.

What a Rhode Island medical office study must prove

Any Rhode Island medical office project funded under 7(a), one of 33 on record, goes through a participating lender in Rhode Island, with SBA guaranteeing part of the medical office loan; the study should answer to that Rhode Island lender's credit scrutiny, from use of proceeds to medical office repayment. A Rhode Island medical office study tests provider demand against existing medical buildings. Clinical finish, utility work, accessibility upgrades and site needs set medical office costs in Rhode Island. Debt service coverage runs on $126,000 and again at $200,000, plus a downside scenario, so a Rhode Island reader can see where medical office the margin thins. Valuation of a Rhode Island medical office depends on lease quality and the fill-up period. A borrower that is approaching TD Bank, National Association must read its 6 loans here as background alone: SBA's numbers show a book, not any requirements.

Take the Rhode Island medical office history above, 33 loans, as background: a medical office study from Loan Analytics for Rhode Island, signed by Daniel Smith, MAI, for medical office, handles the project-level Rhode Island testing, and nothing here assures Rhode Island approval of a medical office loan.