HomeFeasibility study consultants
Feasibility Study Consultants for SBA 7(a), SBA 504 and USDA B&I Loans
MMCG Invest, LLC is the feasibility consulting practice behind this platform. We write the independent, third-party feasibility study a lender puts in the credit file: one question answered in writing, can this project, at this site, carry its debt.
What a feasibility study consultant does
A feasibility study consultant is the independent party a lender relies on when the borrower's own projections are not enough. The work is to test the project from outside: whether the market is deep enough, how much competing supply already serves it, whether the site and the cost basis hold up, what revenue the operation can reasonably reach and when, and whether the resulting cash flow covers the proposed debt with room to spare. The conclusion is written for a credit committee, which is a different job from persuading an investor. A study that concludes a project does not work is a normal outcome and is delivered as written.
SBA feasibility studies: 7(a) and 504
On SBA credits the study exists to document what the lender must be able to show under SOP 50 10 8.1, effective 1 October 2026: that repayment comes from the cash flow of the business, that projections for a start-up or an expansion rest on evidence rather than optimism, and that special purpose collateral has a market behind it. Lenders most often ask for a feasibility study on ground-up construction, start-ups, changes of ownership with a new operating plan, and special purpose property such as hotels, car washes, gas stations and assisted living. We structure the report to the credit questions the SOP raises so the lender can map it to the file without translation. Our SBA underwriting spine sets out the text and the section references.
USDA feasibility studies: Business and Industry, REAP and Community Facilities
USDA's OneRD guaranteed loan rules at 7 CFR Part 5001 treat the feasibility study as its own document: an analysis by a qualified consultant of the economic, market, technical, financial and management feasibility of the project. We write to that five-part structure rather than a generic template, because that is what the agency reviewer reads against, and we address rural area eligibility, the borrower's capacity to operate, and the sensitivity of coverage to the assumptions that matter. Our USDA OneRD spine walks through the regulation.
Conventional and bank credit
Banks, credit unions and private lenders commission the same analysis under their own credit policy, usually where a project carries construction risk, an untested revenue model or a market the borrower has not operated in. The study follows the lender's template where one exists.
Property types we cover
Engagements are concentrated where lender-required feasibility is common and where special purpose collateral makes the market question hard: hotels and boutique lodging; gas stations, convenience stores and travel centers; car washes; self storage and RV or boat storage; RV parks, campgrounds and glamping; multifamily and build to rent; assisted living and memory care; industrial, flex and outdoor storage; medical, dental and veterinary; childcare and education; wedding and event venues; retail, restaurants and mixed use. More than 30 asset classes in all.
Client names and site addresses from past engagements are not published. A study is a confidential document prepared for a credit file, and a consultant who lists their borrowers is telling you how they will treat yours.
Why the platform makes the study faster and harder to argue with
The platform and the studies run on the same data layer. The figures in a delivered document are the figures you already looked at in the workspace, carrying the same source and period, rather than a separate research effort that happens to reach a similar number. The mechanical parts of a study (demographics, corridor traffic, flood and hazard exposure, competitive supply, the SBA lending record for that county and industry) are assembled before the engagement starts, so the time goes into the parts that need judgement. Any workspace session can be promoted to a signed study.
How an engagement runs
- Run the address in the free workspace and read what the public record already says about the site.
- Book a meeting. We confirm the loan program, the lender's requirements and the documents we need from the sponsor.
- We issue an engagement letter with a fixed scope. Independence is part of the scope: the fee does not depend on the conclusion or on the loan closing.
- Research, modelling and drafting, with questions to the sponsor and lender as they arise.
- Delivery of the signed study to the lender and the sponsor, and we stay available for the credit committee's and the agency's follow-up questions.
What a study is not
It is not an appraisal and carries no opinion of value; where an opinion of value is required, that is a separate engagement by a licensed appraiser and we say so rather than blurring the line. It is not a guarantee of approval: the lender underwrites, not us. And it is not a marketing document.
Before engaging
Questions lenders and sponsors ask before engaging.
What is a feasibility study consultant?
An independent third party engaged to test whether a proposed project can support its debt, and to document the answer for a lender. The consultant has no stake in the loan closing, which is what makes the conclusion usable in a credit file.
When does an SBA lender ask for a feasibility study?
Most often for ground-up construction, start-ups, expansions into a new market and special purpose property, where historical cash flow cannot carry the credit decision and projections have to be supported from outside the borrower. The SBA underwriting spine on this site sets out the relevant SOP 50 10 8.1 text.
When does USDA ask for one?
Under 7 CFR Part 5001 the agency can require a feasibility study by a qualified consultant, typically for new businesses and for projects whose repayment depends on projected rather than historical performance. The USDA OneRD spine on this site walks through the regulation.
Is a feasibility study an appraisal?
No. It addresses whether the project works as a business at that site. It gives no opinion of value.
Who relies on the study?
The lender's credit officer and committee, the SBA or USDA reviewer where the loan is guaranteed, and the sponsor, who often learns more from it than anyone else.
How long does a study take?
Typically 9 to 16 business days from a signed engagement and receipt of the sponsor's documents, because the data layer is already assembled.
Can I test the site myself first?
Yes. Address lookup in the workspace is free and needs no account. Many engagements start from a session the sponsor or lender already ran.
How do I choose a feasibility study consultant?
Ask who signs the study and what their credentials are, whether the fee is independent of the outcome, whether every figure is sourced and dated, whether they have written for your loan program before, and whether they will answer the credit committee's questions after delivery.
Tell us what you are trying to underwrite.
Describe the file and we will come back within one business day with the coverage we hold for that market and the shortest path to a signed study.
Write to info@mmcginvest.com.