Beyond Feasibility Studies: The Financial Intelligence, Due Diligence and Advisory Services Banks, Developers and Investors Need to Finance Successful Projects

Wert-Berater, Inc. | Independent Market Intelligence & Feasibility Advisory | Established 1998

Making Better Capital Decisions Starts With Independent Analysis

Obtaining financing for a commercial development, business expansion, manufacturing facility, hospitality project, healthcare operation, infrastructure investment or real estate acquisition requires more than a business plan and a set of financial projections. Banks, government lending programs, institutional investors and private capital providers must understand the market, evaluate the underlying economics, assess repayment capacity, identify risks and determine whether the proposed investment can perform under realistic operating conditions.

That is where independent financial intelligence and professional advisory services become essential.

Wert-Berater, Inc. is an independent market intelligence, feasibility and financial advisory firm established in 1998. We provide analytical services to banks, commercial lenders, Certified Development Companies (CDCs), developers, business owners, investors, institutional capital providers and organizations pursuing domestic and international financing.

Our work extends well beyond traditional feasibility studies. We assist clients throughout the investment lifecycle, from initial market research and investment screening to feasibility, underwriting, financial modeling, due diligence, valuation, development analysis and ongoing asset and portfolio performance monitoring.

Whether a financial institution needs independent third-party analysis, a developer is evaluating a multimillion-dollar investment, or a business owner is preparing an application for SBA, USDA or EXIM Bank financing, Wert-Berater provides the analytical foundation needed to make informed capital decisions.

Financing Programs and Institutional Capital Advisory

Different financing programs have different underwriting standards, documentation requirements and investment objectives. Our work is designed around the particular project, financing structure and intended reviewing institution.

SBA 504 and SBA 7(a) Financing

SBA feasibility studies · How to order an SBA study · Lender ordering

The Small Business Administration's 504 and 7(a) programs provide important financing opportunities for qualifying businesses, owner-occupied commercial real estate, equipment acquisitions, construction and expansion.

Wert-Berater provides independent feasibility analysis, market research, business planning, financial modeling, repayment analysis and related advisory services for projects seeking SBA financing.

Our analytical work can address:

• Market demand, competition and trade-area analysis.
• Industry conditions and business operating assumptions.
• Project development costs and sources and uses of funds.
• Ten-year financial projections and cash-flow analysis.
• Debt-service coverage and repayment capacity.
• Sensitivity analysis and downside scenarios.
• Management, operational and market risks.
• Independent conclusions and supporting documentation.

We work with lenders, CDCs and borrowers to establish the appropriate scope and intended use of each assignment. The applicable SBA SOP, transaction circumstances and lender requirements determine what documentation and analysis are necessary.

USDA Rural Development Financing

USDA feasibility studies · Outsourced USDA OneRD underwriting · USDA Community Facilities

USDA Rural Development programs support business development, rural infrastructure, agricultural processing, community facilities, renewable energy and other qualifying investments.

Wert-Berater provides feasibility studies, financial analysis, business plans, economic impact analysis and related underwriting support for projects involving:

• USDA Business & Industry (B&I).
• USDA Community Facilities.
• Rural Energy for America Program (REAP).
• Value-Added Producer Grants (VAPG).
• Other applicable rural development initiatives.

Our work examines market feasibility, operating sustainability, management, development costs, employment, cash flow, debt repayment and project risks.

For USDA guaranteed lending, we structure the analysis around the applicable requirements of 7 CFR Part 5001 and USDA Rural Development instructions. Grant-related assignments are scoped to the particular program and application requirements.

EXIM Bank Export Financing and International Business Projects

EXIM Bank feasibility and financial analysis

International trade, manufacturing expansion and export-oriented businesses require careful analysis of commercial opportunities, production capacity, international markets, capital requirements and financial sustainability.

Wert-Berater provides financial modeling, market research, business planning, project feasibility, economic analysis and supporting documentation for businesses evaluating EXIM Bank financing and export-related investment opportunities.

Our services can address:

• Export market opportunities and competitive positioning.
• International customer and industry demand.
• Production capacity and operating requirements.
• Capital investment and working-capital needs.
• Revenue projections and export assumptions.
• Cash flow, repayment capacity and financial risk.
• Long-term business sustainability.

The scope of the assignment is coordinated with the proposed EXIM Bank financing product and the requirements communicated by the relevant financing parties.

EB-5 Immigrant Investor Projects

EB-5 studies and business plans · Economic impact analysis

EB-5 investment projects require a particularly detailed examination of the proposed enterprise, capital investment, business operations and employment assumptions.

Wert-Berater provides feasibility studies, comprehensive business plans, financial projections, market analysis, economic impact studies and job-creation analysis for qualifying EB-5 projects.

Our work can support:

• EB-5 regional center and direct investment projects.
• Business and project feasibility.
• Comprehensive business plans.
• Construction and operating employment analysis.
• Economic impact analysis.
• Capital expenditure and development schedules.
• Revenue, operating expense and profitability projections.
• Employment assumptions and supporting documentation.
• Long-term financial sustainability.

For regional center projects, appropriate economic methodologies may include IMPLAN, RIMS II or REMI, depending on the project and assignment. Job-creation calculations and documentation must be structured for the applicable EB-5 pathway and reviewed in coordination with qualified immigration and securities counsel.

Our objective is to provide a defensible analytical foundation for investment evaluation and the applicable immigration-related filing process. No feasibility study or business plan guarantees financing approval or immigration benefits.

Conventional Bank and Institutional Financing

Conventional bank feasibility · CRE debt advisory · CRE loan underwriting · Loan portfolio due diligence · Credit monitoring

Not every investment fits neatly into a government-backed financing program. Conventional commercial lenders, private credit funds, insurance companies, family offices, pension funds and institutional investors also require independent financial and market analysis.

Wert-Berater supports these capital providers and their clients with:

• Independent market and feasibility analysis.
• Commercial real estate underwriting.
• Acquisition and development analysis.
• Financial modeling and repayment analysis.
• Investment screening and due diligence.
• Highest and best use studies.
• Valuation and appraisal-related assignments.
• Distressed asset and workout analysis.
• Portfolio risk assessment and monitoring.

Comprehensive Services Beyond Feasibility Studies

A feasibility study is one component of a much larger analytical process. Wert-Berater offers a broad range of specialized services that address the financial, operational, market and investment questions facing lenders, developers and investors.

1. Market Intelligence and Market Research

Market intelligence · Market reports · Market research and custom assignments · Market analytics and competitive intelligence · Market risk · Site selection

Before committing capital, investors need to understand the market in which they intend to operate.

Our market intelligence services examine supply, demand, competition, market penetration, demographic and economic trends, industry conditions, pricing, occupancy, absorption, development pipelines and potential market opportunities.

We provide:

• Custom market research.
• Market risk intelligence reports.
• Industry and competitive analysis.
• Demand and supply analysis.
• Site selection and trade-area research.
• Geographic market opportunity analysis.
• Hotel, hospitality and lodging market reports.
• Self-storage and RV park market intelligence.
• Marina, boat storage and recreational market reports.
• Healthcare and medical services market research.
• Manufacturing, industrial and logistics market analysis.
• Gas station, truck stop and convenience retail research.
• Data center, cold storage and specialized asset research.

Our research helps clients identify opportunities, evaluate competitive pressures and make better-informed investment decisions.

2. Feasibility Studies and Independent Underwriting

Feasibility studies · Business planning

Wert-Berater prepares independent feasibility studies for new developments, expansions, acquisitions, repositioning projects and operating businesses.

Our studies evaluate whether a proposed project is economically supportable based on its market, management, operations, development costs and financial performance.

Depending on the assignment, the analysis includes:

• Market feasibility.
• Financial feasibility.
• Technical and operational feasibility.
• Management assessment.
• Development and construction costs.
• Revenue and expense assumptions.
• Ten-year financial projections.
• Debt-service coverage analysis.
• Sensitivity and downside testing.
• Risk assessment and mitigation.
• Independent feasibility conclusions.

We prepare assignments for the intended lender, agency, investor or institutional audience, using the applicable standards rather than assuming one report format satisfies every financing program.

3. Comprehensive Financial Modeling

Financial modeling advisory · Reserves, DSCR and financial ratios

Financial projections should be more than static spreadsheets. They should be analytical tools that allow lenders, developers and investors to understand how changes in assumptions affect project performance.

Wert-Berater develops financial models for:

• New business ventures.
• Commercial real estate development.
• Hotel and hospitality investments.
• Manufacturing and industrial facilities.
• Healthcare and medical imaging operations.
• Renewable energy and infrastructure.
• Acquisitions and business expansions.
• Investment partnerships and equity structures.
• Refinancing and recapitalization.
• Long-term asset performance.

Depending on project requirements, models can incorporate ten-year projections, monthly development draw schedules, construction and operating budgets, sources and uses, debt schedules, interest-rate sensitivity, equity returns, discounted cash flow, break-even analysis, scenario testing and Monte Carlo simulation.

Our models are designed to help users evaluate investment returns, repayment capacity, capital requirements and downside exposure.

4. Due Diligence, Acquisition Analysis and Investment Screening

Investment due diligence · Independent investment screening

Investors and lenders need to know what they are purchasing, financing or committing capital to before completing a transaction.

Our due diligence and investment screening services can include:

• Acquisition feasibility.
• Financial and operating performance review.
• Market and competitive positioning.
• Revenue and expense verification.
• Development and capital expenditure review.
• Asset condition and operational considerations.
• Valuation and investment return analysis.
• Risk identification.
• Distressed asset and workout analysis.
• Merger and acquisition transaction support.

For investors considering multiple opportunities, we can also provide preliminary Go/No-Go screening to identify potential concerns before a more extensive engagement.

5. Commercial Real Estate Appraisal, Valuation and Highest and Best Use

Commercial real estate appraisals · Special-purpose and going-concern appraisals · Highest and best use studies · Litigation support and expert witness

Real estate investment decisions require an understanding of both current asset value and the property's potential uses.

Wert-Berater provides commercial real estate appraisal and specialized valuation services, including:

• Multifamily and apartment properties.
• Hotels and hospitality properties.
• Industrial and commercial properties.
• Retail and mixed-use developments.
• Healthcare and special-purpose properties.
• Marinas and recreational assets.
• Going-concern and special-purpose valuations.
• Highest and best use studies.
• Repositioning and adaptive reuse analysis.
• Litigation support and expert witness assignments.

These services help owners, investors, lenders and other stakeholders evaluate asset value, potential uses and investment alternatives.

6. Economic Impact and Job-Creation Analysis

Economic impact and job-creation analysis

Large development projects, manufacturing investments, rural business expansions and EB-5 projects may require detailed economic impact analysis.

Wert-Berater prepares studies examining:

• Direct employment.
• Indirect employment.
• Induced employment.
• Construction-related economic activity.
• Operating-phase economic effects.
• Output and value-added impacts.
• Fiscal and tax revenue impacts.
• Employment assumptions and supporting methodologies.

The appropriate economic methodology is selected according to the project, intended use and applicable program requirements.

7. Asset and Portfolio Performance Monitoring

Asset and portfolio performance monitoring · SBA 504 and CDC portfolio monitoring · Construction monitoring · Loan monitoring · Watchlist monitoring

A financing decision is not the end of the analytical process.

Banks, CDCs, investors and developers need to know whether an asset is performing according to its original underwriting assumptions. Changes in occupancy, revenue, expenses, debt service, market conditions and capital requirements can materially affect investment performance.

Wert-Berater provides asset and portfolio performance monitoring services designed to identify emerging problems and evaluate financial performance over time.

Our monitoring services can include:

• Actual performance versus original underwriting.
• Revenue and operating expense monitoring.
• Debt-service coverage tracking.
• Budget and forecast variance analysis.
• Construction progress and development monitoring.
• Loan and covenant monitoring.
• Watchlist and distressed asset monitoring.
• SBA 504 and CDC portfolio monitoring.
• Investor and equity performance analysis.
• Market condition updates and risk alerts.

This gives lenders and investors a continuing analytical resource after the initial financing or acquisition.

8. Specialized Advisory and Professional Services

USDA grant business plans · Capital provider investment analysis

In addition to our core services, Wert-Berater provides specialized analytical and advisory assignments, including:

• Business plans and investment prospectuses.
• Grant and incentive feasibility.
• USDA grant business plans.
• Distressed asset and workout feasibility.
• Repositioning and adaptive reuse feasibility.
• Study updates, recertifications and reliance letters.
• Litigation support and expert witness services.
• Special-purpose and going-concern appraisal.
• Capital provider and investor analysis.
• Development and construction feasibility.

Why Banks, Lenders and Developers Work With Wert-Berater

Capital providers need independent analysis, defensible conclusions and financial documentation that can withstand scrutiny.

Wert-Berater was established in 1998 and reports 4,000+ engagements completed, 1,300+ SBA studies accepted by lenders, 950+ USDA studies in agency financing and $43.8 billion in project value evaluated.

Our experience encompasses projects across the United States and international assignments on a case-by-case basis.

What distinguishes our approach is the emphasis on independent research, documented assumptions, financial modeling and analytical transparency.

Our principles include:

Independence: Conclusions are based on the evidence and are not altered to achieve a predetermined financing or investment outcome.

Experience: More than 28 years of practice in feasibility, financial analysis and related advisory work.

Analytical depth: Market research, financial modeling, underwriting and risk analysis are integrated into the assignment where appropriate.

Institutional orientation: Reports are prepared with the intended lender, agency, investor or reviewing institution in mind.

Broad industry coverage: We work across commercial real estate, hospitality, healthcare, senior housing, manufacturing, agriculture, renewable energy, infrastructure, storage, recreation and other specialized industries.

Continuing support: Our work can extend beyond the original study through updates, market intelligence and ongoing asset and portfolio monitoring.

Who Should Contact Wert-Berater?

Investors and capital providers · Lenders and CDCs · Institutional investors · Family offices · Private equity and real estate funds · Developers and owners

We welcome inquiries from:

• Banks and commercial lending institutions.
• SBA 504 and 7(a) lenders.
• Certified Development Companies.
• USDA Rural Development lenders.
• EXIM Bank financing applicants and export-oriented businesses.
• EB-5 developers, regional centers and project sponsors.
• Commercial real estate developers.
• Hotel, resort and hospitality developers.
• Manufacturing and industrial businesses.
• Healthcare and senior living operators.
• Renewable energy and infrastructure developers.
• Private equity and investment funds.
• Family offices and institutional investors.
• Business owners seeking expansion capital.
• Investors evaluating acquisitions and development opportunities.

Whether you need a comprehensive feasibility study, an independent financial model, market intelligence, an acquisition review, an economic impact study or ongoing portfolio monitoring, we can help establish the appropriate analytical scope.

Start With an Independent Analytical Review

Every project has different requirements. The most effective starting point is to identify the investment objective, proposed financing structure, intended reviewing institution, project stage and analytical questions that need to be answered.

Wert-Berater can then recommend the appropriate scope of work and provide an engagement-specific fee proposal.

Wert-Berater, Inc.

Independent Market Intelligence & Feasibility Advisory

Established 1998 | Lender-Grade | Agency-Compliant | Independent

Website: wert-berater.com

Telephone: +1 310-857-2443 ext. 800

Email: dsafranek@wert-berater.com

Banks and Lenders: Discuss outsourced underwriting, independent feasibility, market intelligence and portfolio monitoring.

Developers and Business Owners: Request a project qualification and analytical services proposal.

Investors and Capital Providers: Discuss investment screening, due diligence, financial modeling and asset performance monitoring.

Request an Analytical Briefing or Project Fee Quote: wert-berater.com