Feasibility Study Data for the Warsaw, IN Micro Area

Restaurants lead a short class list

Warsaw, IN is Kosciusko County alone, a micropolitan area with 109 loans and $40.1 million from FY2017 to FY2026, ranking 450th of 928 by loan count. Among tracked classes, limited-service restaurant is first with 9 loans, full-service restaurant follows with 7 and automotive mechanical repair with 5, while 74 loans lie outside every class. Little else in the class table registers.

A $119,000 median, 0.57x the national median, anchors the record; the central loans start at $50,000 and stop at $315,000, and 11.9% carry a franchise brand. Of the total, 88 are 7(a) and 21 are 504, and Business Development Corporation (BDC) holds 9 of the 504 loans, worth $3.7 million. Kosciusko County holds all 109 loans, so every comparison is local, and the lender table is short, which a study should treat as a narrow field.

Holders of record

The holder entries identify the institution of record for each loan. They describe where loans sit and are not a statement of any bank's practice. Lake City Bank holds 21 7(a) loans worth $3.4 million and KeyBank National Association 6 worth $1.0 million. The holder with the most loans, 30 of them worth $5.3 million, appears in the lender table printed on this page.

Of approvals through FY2024, 9.0% were cancelled, and adding undisbursed loans leaves 9.0%. Kosciusko County has no published charge-off rate and no yearly counts for FY2025 and FY2026, the groups being small; no number is printed for them and none is zero. In the years shown, FY2018 is the high at 22 loans and $16.5 million, and FY2020 the low at 6 loans and $426,900.

What a Kosciusko County study must show

A study should prove demand in Kosciusko County for the use without a strong class precedent, set cost against very small loans, and run debt service conservatively since no loss rate is published. Because the record also lacks the two latest years, recent momentum cannot be judged from it. Valuation must hold, Kosciusko County rests on the 2023 delineation, and the text commits nobody to anything. The class table and the lender table are the only local precedents the record offers, and both are thin, so the study should say how its own claims would be corroborated.