SBA 7(a) Physical Therapy Clinic Feasibility Study in Indiana

Small clinics in a Midwestern state

Indiana's rehabilitation and therapy clinics borrow small amounts: the median is $100,000, 0.71x what therapy clinics typically borrow nationally, and the middle band spans $35,000 to $260,500. SBA recorded 65 loans worth $17.4 million. Indiana ranks 15 among states on count, and inside it the class stands 13 of 39. Franchise ties account for 4.6% of loans, so practices are overwhelmingly independent.

Centier Bank holds 9 loans worth $2.1 million, and First Financial Bank holds 8 worth $2.4 million. The Huntington National Bank also holds 8, but they come to only $745,600. A fourth holder has 7 loans worth $1.2 million. SBA does not say more than that. Hamilton County has 10 loans, Lake 8, Marion and Porter 5 each, Allen and Johnson 4 each, and Madison 3.

A lumpy calendar

Approvals were 11 in FY2017, 2 in FY2020, 13 in FY2024, and 7 in FY2026 with $5.4 million, the series' biggest dollar year. Such swings mean no one year describes the class, and many of the loans are recent.

Cancellation after approval had a floor of 11.3% for loans approved through FY2024, rising to 13.2% when undisbursed loans are counted. The early funded group is too small to print a loss rate, so none appears. The blank is not zero, and it does not show that Indiana clinics have performed well.

What an Indiana therapy clinic study must show

Therapists produce the revenue, so the study should state how many will be employed, how many visits each can treat in a week, and how many weeks of ramp are needed to fill their schedules. Referral sources deserve names by type: surgeons, primary care offices, schools and employers. Reimbursement varies by payer, and the delay between treatment and payment is a use of cash the loan must cover. With typical loans near $100,000, the project is a small leased space with treatment tables and exercise equipment, so lay the lease term next to the build-out's payback period. Cover the payment in a case with fewer visits than planned, and explain what happens if the lead therapist leaves. If the loan buys a practice, test whether its patients stay after the sale. Name the licences and credentials each therapist holds, and show on which date each one joins the payroll, so a reader can see how the schedule fills before the payment falls due.