SBA, USDA, and EB-5 Feasibility Study Fees Explained: Why Premium Providers Cost More (and Why It Matters)

Fees for SBA feasibility studies, USDA feasibility studies, EB-5 feasibility studies, and highest and best use analyses can range from a few thousand dollars to significantly higher professional fees. For developers and investors, this often raises one critical question:

What am I actually paying for?

The answer lies in risk, regulatory scrutiny, professional qualifications, report depth, and credibility. In federally regulated and capital-intensive environments, feasibility studies are not marketing documents—they are decision-making and risk-allocation tools.

​

Fee Differences by Program: SBA, USDA, and EB-5

​

SBA Feasibility Study Fees

SBA feasibility studies support:

• SBA 504 and 7(a) loans

• Lender underwriting and credit committee review

• Long-term repayment risk analysis

​​

Higher-fee SBA feasibility studies typically include:

• Localized demand and absorption analysis

• Competitive positioning based on primary research

• Financial assumptions aligned with SBA SOP requirements

​​

Low-cost SBA feasibility studies often rely on generic templates and national averages, increasing the risk of lender pushback.

​

USDA Feasibility Study Fees

USDA feasibility studies must demonstrate:

• Economic viability in rural markets

• Community and employment impact

• Long-term operational sustainability

​​

Experienced USDA feasibility study providers charge more because they deliver:

• Detailed supply-demand modeling

• Sensitivity and downside analysis

• Transparent methodologies acceptable to USDA reviewers

​​

USDA reviewers frequently reject shallow or poorly supported reports.

​

EB-5 Feasibility Study Fees

EB-5 feasibility study fees are typically the highest due to immigration risk.

​

EB-5 feasibility studies must comply with USCIS Matter of Ho requirements, including:

• Comprehensive market and competitive analysis

• Realistic absorption assumptions

• Methodological transparency

• Logical alignment with economic impact reports

​​

Low-cost EB-5 feasibility studies significantly increase the likelihood of RFEs, NOIDs, or petition denial.

​

Highest and Best Use Study Fees: Understanding the Real Difference

A highest and best use study determines the legally permissible, physically possible, financially feasible, and maximally productive use of real estate.

Professional HBU studies:

• Comply with USPAP standards

• Are often prepared or reviewed by MAI-designated appraisers

• Are relied upon by lenders, courts, and institutional investors

​​

Lower-cost HBU reports are often broker opinions or conceptual narratives—not true valuation-based analyses.

​​​

Why MAI Designations and Investment Banking Experience Matter

MAI Designation

MAI-designated professionals bring:

• Advanced valuation training

• Ethical accountability

• Analytical rigor recognized by lenders and courts

​​

Their involvement materially improves report credibility.

​

Investment Banking & Institutional Experience

Professionals with investment banking or private equity backgrounds understand:

• Capital stack risk

• Downside protection

• Institutional underwriting criteria

​​

This experience ensures feasibility studies reflect real investment decision logic, not theoretical outcomes.

​

Report Depth, Structure, and Why It Affects Fees

High-quality feasibility studies and HBU reports include:

• Clear explanation of assumptions

• Multiple demand and absorption scenarios

• Sensitivity testing

• Logical narrative flow aligned with reviewers’ expectations

​​

This depth requires senior involvement, time, and expertise—key drivers of professional fees.

​

Why Cheap and Fast Feasibility Studies Are Risky

Low-cost feasibility study providers often:

• Reuse generic templates

• Skip site-specific constraints

• Avoid downside scenarios

• Lack credentials to defend conclusions

​​

The result can be:

• Loan denials or delays

• USCIS RFEs or EB-5 denials

• Investor skepticism

• Legal and reputational risk

​​

The cost of correcting a flawed report often exceeds the original “savings.”

​

Why Firms Like Wert-Berater Command Higher Fees

Wert-Berater provides:

• Senior-level, hands-on analysis

• MAI-driven valuation discipline

• Institutional-grade feasibility and HBU reports

• Documentation designed to withstand lender, USCIS, and investor scrutiny

🔗 https://www.wert-berater.com/
🔗 https://www.wert-berater.com/feasibility-study-consultants

​

Their fees reflect risk mitigation, credibility, and acceptance—not speed alone.

​

Feasibility Studies Are Investments, Not Line Items

At the outset of every engagement, our objective is not to deliver a generic report—it is to understand your project.

​

Most of the projects we evaluate represent millions or tens of millions of dollars in capital. Against that backdrop, the difference between a low-cost feasibility study and an institutional-grade analysis is not a few thousand dollars in fees—it is how risk is identified, quantified, and managed.

​

Spending modestly more on a high-quality feasibility study is not an expense; it is an investment in clarity, credibility, and informed decision-making.

​

We Take the Time to Learn Your Project

Premium feasibility work requires:

• Understanding site-specific constraints

• Evaluating realistic demand and absorption

• Stress-testing assumptions

• Aligning conclusions with lender, investor, and regulatory expectations

​​

This level of analysis cannot be rushed or automated.

Our fees reflect the time and senior expertise required to learn your project properly, rather than forcing it into a pre-built template.

​

Not “Check-the-Box” Reports — Critical Decision-Making Instruments

Feasibility studies and highest and best use analyses are often treated as compliance documents. In reality, they are core decision-making instruments used to:

• Allocate capital

• Secure financing

• Support immigration petitions (EB-5)

• Evaluate downside risk

• Protect investors and sponsors

​​

A report that simply “checks the box” may satisfy a submission requirement—but it does not protect the project.

​

The Real Cost of Underinvesting in Analysis

When feasibility studies are underpriced, corners are often cut:

• Generic data replaces site-specific analysis

• Optimism replaces rigor

• Assumptions go unexplained

• Risk is shifted to the client

​​

The cost of correcting or replacing an inadequate report—through delays, rejections, or lost credibility—often far exceeds the original fee difference.

​

Our Fee Philosophy

Our professional fees are aligned with:

• Project scale and complexity

• Regulatory and lender scrutiny

• Required depth of analysis

• The importance of defensibility and credibility

​​

For projects of meaningful value, quality analysis is not optional—it is foundational.

​

​

Conclusion: Feasibility Study Fees Reflect Risk Allocation

Whether for:

• SBA or USDA financing

• EB-5 immigration petitions

• Institutional investment

• Legal or regulatory review

​​

Feasibility studies and highest and best use analyses are high-stakes documents.

The difference in fees reflects the difference between:

• A report that merely exists

• And a report that protects capital and outcomes

​

Authoritative Sources

• U.S. Citizenship and Immigration Services – Matter of Ho (1998)

• U.S. Small Business Administration – SBA SOP Guidelines

• USDA Rural Development – Feasibility Study Requirements

• Appraisal Institute – The Appraisal of Real Estate

• Uniform Standards of Professional Appraisal Practice (USPAP)

​

​

​