Why there is no price list
A single published price for an SBA feasibility study is a signal that the same document gets produced regardless of the project. The work behind a 504 credit on a special-purpose building and a 7(a) credit on a projection-based acquisition is not the same work, and pricing them identically means one of the two is being short-changed.
What we commit to before you spend anything is the structure. The fee is fixed, quoted in writing within one business day, and never contingent on the determination. Independence is the entire reason your lender or CDC asked for an outside study; a fee that rises with a favorable finding would defeat it.
What moves the fee
Seven things account for nearly all of the variation between one engagement and the next.
Asset class
A car wash and a 200-bed continuing-care campus are not the same analysis. Demand method, benchmark availability and the number of revenue lines to model drive most of the difference in hours.
Project scale and cost
Larger project budgets bring more scrutiny, more scenarios and, usually, more stakeholders to satisfy — the report has to hold up against a bigger downside.
Program
A 504 study carries more weight on the property, its occupancy and its special-purpose characteristics. A 7(a) study leans harder on global cash flow and the coverage curve across the term.
Number of sites
Multi-site or phased developments multiply the market work: each site needs its own trade area, competitive set and capture analysis.
Data availability
Where published data is thin — rural trade areas, novel processing technologies, emerging asset classes — the answer comes from primary research: operator interviews, competitor inspection and site work.
Deliverable set
A study alone costs less than a study plus a full financial model, a lender presentation or an investor prospectus. We quote the pieces separately so you buy only what the file needs.
Timeline
Standard delivery is 10 to 15 business days from a complete data room. Compressed schedules mean reallocating senior analyst time, and that carries a premium.
What the fee includes
A complete, independent study addressing every component the program requires: the market and demand analysis with its evidence, the technical review, the financial projections and coverage testing, the management assessment, the economic-impact discussion where the program calls for one, and a stated determination. It includes the underlying financial model, the source citations behind every material number, delivery in the format your lender files, and the analyst's availability to answer the lender's or the agency's questions after delivery — a study that nobody will stand behind is worth nothing to a credit file.
What it does not include
A feasibility study is not an appraisal, an environmental report, a market study prepared for the appraiser's use, a business plan written to persuade, or a loan package. Those are separate work products with separate standards, and we will tell you plainly which one your lender is actually asking for — borrowers are frequently quoted for the wrong document.
Why the cheapest study is usually the expensive one
A report that comes back from the reviewer with comments costs the sponsor far more than the difference in fee: weeks of delay, a re-underwrite, sometimes a rate lock or a construction window lost. The common causes are structural — a required component missing, projections that do not tie to the market findings, data outside the recency window, or an author whose independence cannot be established. Studies priced far below the market are usually priced for a template, and a template is exactly what gets returned.
How to get a number for your project
We quote a fixed fee within one business day of understanding the project. The fee is set before work begins and does not change with the finding — it cannot, because a fee contingent on a favorable determination would destroy the independence the lender is relying on. Tell us the asset class, the location, the approximate project cost, the program and the date your lender needs the report, and you will have a written fee and a delivery date, with no obligation.
Frequently asked questions
How much does an SBA feasibility study cost?
It is quoted per project. Asset class, project scale, whether it is 504 or 7(a), the number of sites, how much primary research the market requires and which deliverables you need all move the number. You get a fixed written fee within one business day, and it does not change with the finding.
Does the SBA set a fee schedule for feasibility studies?
No. The SBA's guidance addresses what the analysis must establish and who may prepare it, not what an independent firm may charge. Your lender or CDC may, however, have expectations about scope, and we will match the quote to what they actually require.
Can the study fee be included in the project cost?
Third-party report costs are commonly treated as an eligible project cost, but eligibility is your lender's and the CDC's determination under program rules. Confirm it with them before commissioning the work.
Is a 504 study more expensive than a 7(a) study?
Not inherently. The driver is the asset and the evidence it demands, not the program label. A single-tenant special-purpose building under 504 and a multi-unit acquisition under 7(a) can price similarly or very differently depending on the market work involved.
How fast can you deliver?
Ten to fifteen business days from a complete data room is standard, and we will tell you before you engage whether a compressed schedule is realistic for your asset class rather than promising a date we cannot hold.
Will the lender accept a cheaper business plan instead?
Rarely, when the condition is specifically an independent feasibility study. Business plans are advocacy documents prepared for the sponsor; the point of the study is that its author has no stake in the answer. Ask your loan officer to put the requirement in writing so you buy the right document once.
Wert-Berater, Inc. · 1968 South Coast Hwy, Ste 2382, Laguna Beach, CA 92651 · 111 Town Square Pl Ste 1238 PMB 657834, Jersey City, NJ 07310 · 539 W. Commerce St #8486, Dallas, TX 75208 · 66 W Flagler Street, Suite 900, PMB 12704, Miami, FL 33130 · +1 310-857-2443 ext. 800 ·
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