Feasibility Study Data for the Springfield, MA Metro Area

What the record shows for Springfield

820 SBA loans for projects in Springfield, MA between FY2017 through FY2026 total $259.7 million in gross dollars. Next, Springfield stands at 115 of 928 among the full set of core-based areas counted by loans. $100,000 sets the middle loan; the bulk of loans falls between $35,000 and $266,750. In addition, the median here is 0.48x compared with the median nationwide, so the typical loan sits beneath what the country sees. In practice, Springfield keeps to loans from its own counties, never a state's blend: 820 approvals in all.

The program mix and who lends in Springfield

705 loans in 7(a) compare with 115 loans in 504. In addition, 6.1% of the loans involve a franchise brand in this area. Separately, within 7(a) loans, the busiest institutions by count appear as TD Bank, National Association booking 171 loans totalling $18.7 million, Beacon Bank and Trust with 111 loans for $16.3 million, plus Manufacturers and Traders Trust Company holding 58 loans for $4.3 million. Separately, within 504 lending, the largest program intermediaries on loan count stand as Granite State Economic Development Corporation holding 74 loans worth $44.8 million and New England Certified Development Corporation at 26 loans for $25.0 million. Lender names are taken from SBA files on 820 loans; they show loans made and no more, and in no way what lenders require across Springfield.

Classes, counties and the unclassified bulk in Springfield

Full-service restaurant with 44, 27 in limited-service restaurant, 20 in automotive mechanical repair, then 17 in child care center head the class list in the file. 614 approvals fall outside every named class, so its $259.7 million total is wider than any class table. Beyond that, 5 loans in grocery store within Springfield are too few for any claim. Hampden County carries every one of 820 approvals, which makes area and county match. Here, by year, FY2017 opens at 145 loans and $33.6 million; no later year tops it, while FY2026, a part year, caps the series at 71 loans and $28.3 million.

The outcome floors in Springfield

12.3% of FY2017 through FY2024 loans in Springfield were cancelled after approval before disbursement, a floor; 13.7% is the ceiling with undisbursed loans included. Then, 6.8% of FY2017 to FY2021 loans disbursed in Springfield were charged off, which is a floor; 2.5% were charged off by the fifth year of approval, in a cohort of 366 disbursed loans. In addition, treat each share above like a minimum, since loans approved lately have had scant time to fall through or default, across 820 loans. Area membership on the page is the CBSA which includes any loan's county of project, per the July 2023 boundaries in force; project counties get matched by name, and so any loan with a county cannot be assigned never counts in any area without exception. In addition, inside and outside the classes, every 7(a) and 504 approval in the area is tallied toward its $259.7 million total.

The feasibility questions for Springfield

Across Springfield, a study for a property opens with the specific operator, and not the 820-loan file. In addition, market demand in Springfield is tested first: does Springfield's neighbourhood demand carry the receipts projected, against competitors in and near Hampden County? Separately, the local median runs 0.48x of the country's median, so ordinary loans are modest; a project well above them must show it can carry its debt. In addition, the coverage test joins demand to cost for Springfield: expected net income tested against the debt payments, with a weak-sales case. Worth noting: the appraisal caps the work on the Springfield site: market value on completion needs to carry the request sought. An applicant who brings an independent feasibility study for Springfield, before calling on the lenders above, has dealt with the floors up front; credit is decided by the credit committee and SBA in Springfield, and no study promises it.