Feasibility Study Data for the Springfield, MO Metro Area

How big lending runs in Springfield

1,579 loans within Springfield, MO between FY2017 and FY2026 come to $763.4 million in gross dollars. Here, Springfield stands at 68 of 928 against the full set of CBSAs on approvals. Then, $210,000 gives the midpoint; the central half lies between $90,000 and $509,350. Beyond that, the local median is 1.01x against the national median, placing the typical loan higher than the figure for the nation. Beyond that, Springfield counts only the counties in its area, where a state page gives a state's mix of markets: 1,579 approvals in all.

Who finances projects in Springfield

1,447 SBA 7(a) loans accompany 132 approvals under 504. Then, 7.1% of the loans carry a franchise brand here. Also, within 7(a) approvals, the busiest lending names by approvals rank as OakStar Bank with 376 loans for $243.3 million, Guaranty Bank with 144 loans for $51.4 million, and Regent Bank with 117 loans totalling $57.0 million. For context, no certified development company in Springfield has enough loans to be named. All the names are taken from SBA files on 1,579 approvals; they describe past loans and no more, and not the terms that lenders want in Springfield.

Where the loans sit in Springfield

79 in full-service restaurant, 42 in automotive mechanical repair, 39 in limited-service restaurant, and 35 in fitness center rank first by class in loan count. For context, 1,224 approvals fall beyond every named class, so the 1,579-loan file covers more than the class list. 5 approvals in grocery store inside Springfield form too thin a base for a trend. For context, among the counties, Greene County (1,053), Christian County (305), plus Polk County (105) lead the loan count. By year, FY2017 kicks off at 177 loans and $62.5 million; FY2025 is the busiest year at 189 loans and $121.4 million, then FY2026, a complete fiscal year, rounds out the series at 122 loans and $82.8 million.

What the floors allow in Springfield

8.9% among FY2017 through FY2024 approvals in Springfield have been cancelled after approval before funding, a floor; 9.5% is the ceiling counting undisbursed loans. Separately, 5.3% among FY2017 to FY2021 disbursed loans in Springfield were charged off, and that is a floor; 2.6% went to charge-off in under five years after approval, across a cohort of 732 disbursed loans. Read each percentage in this section like a minimum, because loans written lately got too little time to cancel or default; the file has 1,579 loans in all. An area here means the metro or micro area which includes any loan's site county, under the July 2023 CBSA list as published; counties are tied by name, and any loan whose county falls in no CBSA is omitted from any area. Then, named class or not, any 7(a) or 504 loan across Springfield counts into its $763.4 million total.

Where a study earns its keep in Springfield

In Springfield, any serious study of a project opens with the actual proposal, instead of the 1,579-loan file. Local demand in Springfield is the opening test: will Springfield's neighbourhood demand carry the revenue assumed, net of nearby competition in places such as Greene County? Worth noting: the local median runs 1.01x measured against the country's median, so prices here may exceed norms, perhaps; price the real scope against tenders from nearby trades. Separately, debt service coverage ties sales to outlay for Springfield: projected net operating income measured on the payments due, plus a downside case. Worth noting: the last test, the appraisal, caps the work in this area: the value of the collateral must support the amount proposed. Separately, any borrower armed with an independent report for Springfield, before meeting the lenders above, has met those floors early; approval is for the lender and SBA alone in Springfield, so a study cannot guarantee it.