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

Therapy clinics in Nevada borrow smaller sums than the rest of the country would expect, yet the Nevada median still outruns the national one. The median loan is $209,100, 1.49x the 7(a) national median for that clinic type, and half of the 52 loans lie between $100,000 and $560,575. Dollars approved total $23.7 million across FY2017 to FY2026. Nevada ranks 22 nationally on loans counted, while the use stands 11 of 39 within the state. A ratio above one on a small median says the whole market is a low-dollar one, and Nevada sits at the upper end of it.

Clark County and the cancellation record

Clark County dominates with 30 loans, Washoe has 9, Douglas 6, Nye 4, Lyon 2 and Elko 1. Franchising touches 5.8% of loans. The most worrying number is cancellation: at least 21.1% of approvals through FY2024 were cancelled, and if undisbursed loans are also treated as cancelled the share reaches 23.7%. For a class whose projects are usually leasehold build-outs, that points at lease negotiations, licensing delays and staffing that fall through after approval.

Two lenders and a gap year

Two institutions are listed: Newtek Bank, National Association, 8 loans and $4.8 million, and, behind it, Zions Bancorporation, National Association, 5 loans and $622,700. SBA's holder records produced those tallies and they speak only to volume. By year, approvals were 5, 3 and 2 in FY2017 to FY2019, then no loans at all in FY2020, followed by 7, 4 and 7, and a peak of 10 in FY2024. Dollars reached $5.6 million in FY2026 from $772,500 in FY2017.

Loss rate held back

Loss experience is withheld here as well; too few loans have been funded for a rate to be shown, and it must not be quoted as zero.

Questions a Nevada clinic study should answer

A study should test referral sources and payer mix, since therapy visits depend on physicians and insurers more than on walk-in traffic. It should size the treatment-room count against the clinicians a practice can actually hire, model the ramp from a first-year census of patients, and show lease terms that outlast the loan. Model a late opening for coverage, since the cancellation floor shows plans often fail before funding. The appraisal question is mostly about equipment and tenant improvements rather than land.