Skilled Nursing Feasibility Study in Florida

High national rank on small volume

Florida skilled nursing lending is unusual: the state ranks 5 of 48 for the class while within Florida's own mix the class sits only 29 of 39. Over FY2017 to FY2026 there are 37 approvals worth $49.8 million, so the national rank reflects Florida's size, not any special weight for nursing homes in the state, as a location quotient of 0.71x confirms. The median loan of $715,000 is 1.07x the national median, while loans mostly lie between $125,000 and $1.7 million, a wide spread that mixes small facility conversions with larger purchases.

Programs and places

SBA 7(a) made 26 loans and SBA 504 made 11, and franchise brands account for 2.7%. No lender appears in the table, so financing is scattered. Miami-Dade and Palm Beach counties each have 5 loans, Broward has 4, and Lee and Santa Rosa have 3 each, with Hillsborough, Sarasota and Volusia at 2.

Years that swing hard

Annual counts run from 1 loan worth $100,000 in FY2017 to 11 loans worth $11.6 million in FY2023, with 5 loans and $12.1 million in FY2022. FY2024 shows a single loan for $50,000, and FY2026, which ended on 2026-09-30, has 5 loans worth $11.6 million. Nursing facilities are large projects, so the record reflects individual deals.

Rates held back

Florida nursing shows neither a cancellation floor nor a charge-off rate, since both would stand on groups under 30 loans. Do not read either blank as zero. Too few early loans exist to judge; ask for the operator's own survey and occupancy history instead.

What a Florida study must test

Skilled nursing is the most regulated class in this set. A study has to start with the state's licensing and certificate rules, the bed count the site can legally support, and the Medicaid and Medicare mix that will pay for care. Then it has to test occupancy, staffing cost under required ratios, and what a stabilised census earns after payer rates. Show debt service at a slow fill and a payer-rate cut. An appraiser will value a licensed operating facility on its income, which makes the revenue forecast the centrepiece. The same code covers inpatient hospice and nursing-supported assisted living, so those uses blend into the count.