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

Ohio therapy clinics: the smallest tickets, one holder

Ohio rehabilitation and therapy clinics borrow in small amounts. The cell recorded 73 loans worth $14.1 million in total across FY2017 to FY2026, which is a modest sum for the count. The median loan is $74,500, or 0.53x of the national reading, and the central loans run from $31,000 to $166,400. Ohio is 12 among states, and the class stands 18 of 39 at home. Franchise brands appear on 9.6% of loans. This is a market of small, independent practices adding rooms or equipment, not of large acquisitions.

A single dominant holder

SBA's holder listing is unusual: The Huntington National Bank is shown against 42 loans worth $6.4 million, and the page can list no other institution because no other has enough loans to name. The entry only records who holds a loan today. Franklin County has 12 loans, Cuyahoga and Lucas 8 each, Hamilton, Lorain and Summit 5 each, and Lake 4. Volume was 10 loans and $1.0 million in FY2017, then 2 loans and $125,000 in FY2018, a 17-loan year with $3.1 million in FY2021, and 8 loans and $2.2 million in FY2026. FY2022 stands out for 4 loans worth $4.1 million, a much larger average.

Floors on cancellation and charge-off

Cancellation took 7.1% or more of approvals through FY2024, and 8.9% when undisbursed loans are counted. Of 35 early funded loans, 5.7% show a charge-off so far, and 2.9% reached it within five years of approval; with other loans still open, treat each as a minimum.

A study for an Ohio therapy clinic should build from referral relationships and payer rules. Physical therapy income depends on physician referrals, insurer contracts and the rate paid per visit, so the study should show who will send patients, how many visits per therapist per week the space supports, and what reimbursement is assumed. Therapist hiring is a common limit on growth, and coverage should be tested with a delayed hire. With loans this small, the study should be specific on what is financed: equipment, a leased space fit-out, or an existing practice bought outright. Competing clinics in Columbus, Cleveland and Toledo differ from those in smaller markets, so the trade area should be defined locally. The appraiser will see mostly equipment and leasehold improvements.