Start with the program, not a template
A USDA feasibility study is not one document. The regulation, the lender’s credit process and sometimes USDA itself determine what the report must contain, who may prepare it and how deep it goes. These three program services each have their own page with program-specific requirements, sources and FAQs.
Biorefinery, Renewable Chemical & Biobased Product Manufacturing
Feasibility studies and business plans for advanced biofuel, renewable chemical and biobased manufacturing projects seeking a USDA Section 9003 loan guarantee.
- Feedstock, technology and offtake assumptions
- Capital, operating and revenue projections
- Sensitivity and project-risk analysis
Essential Community Facilities
Financial feasibility reports and operating plans for public bodies, Tribes and nonprofits financing healthcare, public safety, education and community buildings through an eligible lender.
- Service-area demand and utilization
- Operating budgets and debt-service coverage
- Report form matched to 7 CFR 5001.304
Rural Multifamily & Farm Labor Housing
Market and feasibility studies for rural rental housing. USDA multifamily is a family of programs — direct, guaranteed, farm labor and preservation — not a single product.
- Primary market area, income and demand
- Comparable rents, occupancy and supply
- Operating projections and feasibility
Other Rural Development work we scope separately:
Tell us the program, the lender and the stage. We confirm which deliverables your file calls for before quoting.
USDA feasibility, business-plan and market services
For the national study scope, see our independent USDA feasibility consultants. A participating lender seeking credit-file support can separately review OneRD outsourced underwriting services; that engagement does not transfer the lender’s credit authority or USDA’s guarantee decision.
Each facet below can be engaged on its own or combined. Where they are combined, one set of assumptions runs through all of them, so the market study, the plan and the projections tell the same story to the lender.
USDA feasibility studies
Independent studies of whether a project can be built, operated and financed on the assumptions presented — scoped to the program rule and, where USDA sets the scope, to USDA’s scope.
- Market, technical, financial and management feasibility
- Stated assumptions, conditions and limitations
USDA business plans
Business and operating plans that address the topics a program expects: ownership, management, operations, market, competition, risks and use of funds.
- Built from the same model as the feasibility work
- Written for credit reviewers, not investors’ pitch decks
Market and industry analysis
Demand, supply, pricing and competitive evidence for the project’s actual market — a trade area, a service area, a product market or a feedstock shed.
- Industry conditions and outlook
- Competitors, comparables and positioning
Financial feasibility analysis
Whether revenues support operations and debt: coverage, liquidity, breakeven and the margin of safety under stress.
- Debt-service coverage and breakeven testing
- Sources and uses reconciled to project cost
Economic and demographic analysis
Population, household, income, employment and regional economic context for the area the project serves, from public primary data sources.
- Service-area and market-area definition
- Trend and income analysis
Project feasibility
Site, technology, construction budget, schedule, operating plan and management capacity examined together so a reviewer can see the whole project.
- Capital requirements and timeline
- Key risks and mitigating factors
Financial projections a lender can test
Projections are where most USDA files are challenged. We build driver-based models — volumes, rates, staffing, feedstock, rents or fees — so every line traces to a stated assumption and a source. The form and horizon depend on the program and the lender’s requirements.
| Model component | What it shows | Why reviewers care |
|---|---|---|
| Projected income statements | Revenue build, operating expenses, depreciation and interest | Whether operations sustain themselves after ramp-up |
| Projected balance sheets | Assets, liabilities and equity through the projection period | Capital structure and leverage over time |
| Projected cash flows | Operating, investing and financing cash flows; reserves | Liquidity and the ability to service debt |
| Sources and uses | Project cost reconciled to debt, equity, grants and other funds | Tests whether proposed funding covers total project cost |
| Debt-service coverage | Coverage by year under the proposed terms | Core repayment test in credit analysis |
| Sensitivity and scenarios | Effect of lower volumes, prices, occupancy or higher costs | Shows how much can go wrong before the project fails |
Where a program requires projections to be reviewed or opined on by a certified public accountant, that opinion is issued by a qualified CPA. Wert-Berater does not issue CPA examination opinions; we prepare the underlying work and coordinate with the firm you or your lender engage.
How an engagement runs
- Step 1
Scope
Identify the program, the lender and any USDA correspondence; confirm which report form and deliverables the file needs.
Output: written scope and fixed fee - Step 2
Evidence
Collect entity, financial and project documents; research the market, demographics, industry and competitors.
Output: data request and research base - Step 3
Model & analyze
Build projections, coverage and sensitivity testing; draft findings with assumptions stated plainly.
Output: draft report and model for review - Step 4
Deliver & support
Finalize the report; respond to reasonable lender or USDA questions within the engagement scope.
Output: final lender-ready report
Timelines depend on program, project complexity and how quickly documents arrive; we give a schedule with the scope rather than a generic promise.
Supporting the application without overstepping
What we do
- Map the program’s feasibility and business-plan elements to the report outline
- Prepare analysis in a structure lenders and reviewers can follow
- Coordinate directly with your lender, engineer, architect or CPA on assumptions
- Reconcile narrative, budget and projections so documents agree
- Cite primary USDA and public data sources
What we do not do
- Make eligibility determinations or represent USDA
- Lend, underwrite or guarantee financing
- Promise approval, a guarantee, a loan or a grant
- Issue CPA opinions, legal opinions or appraisals
- Tie fees to the finding or the financing outcome
Lender-ready means organized for credit review: an executive summary with the conclusion up front, stated assumptions, sourced data, reconciled figures and explicit limitations. It is not a certification by USDA or anyone else.
Share their requirements or USDA correspondence and we will scope the report to it.
Who we work with
| Client | Typical need |
|---|---|
| Borrowers & businesses | Feasibility study and business plan to support a guaranteed-loan request |
| Lenders | Independent third-party analysis to support credit evaluation |
| Nonprofits, public bodies & Tribes | Financial feasibility and operating plans for community facilities |
| Developers | Market studies and financial feasibility for rural housing and mixed projects |
| Project sponsors & investors | Early-stage feasibility to decide whether to proceed |
An independent financial feasibility firm
Wert-Berater is an independent financial feasibility and valuation consultancy. Read about the firm, its practice history and its team on our About section, and review representative engagements on the Experience page. Project-specific experience relevant to your program is discussed during scoping; we do not publish client names or outcomes without permission.
Contact
Phone: +1 310-857-2443
Offices listed in the footer. Contact page
Fees
Scope confirmed before work starts. Fees are fixed and never contingent on the finding or the financing outcome.
USDA feasibility and business-plan guidance
Background reading from our published library. More program-specific guidance is in preparation and will be added here when it is published.
Frequently asked questions
Does every USDA Rural Development application need a feasibility study?
No. Requirements differ by program, loan size, project type and circumstances. Some files need an independent study, some a lender analysis, some a business plan. Confirm with your lender and USDA Rural Development; we help work out which form applies before quoting.
Are you affiliated with USDA?
No. Wert-Berater is an independent consulting firm and is not affiliated with, endorsed by, or part of USDA or USDA Rural Development. We are also not a lender.
Can you guarantee approval?
No. The lender makes its credit decision and USDA decides eligibility and any guarantee, loan or grant. Our work aims to make the evidence clear and testable.
Can you prepare both the feasibility study and the business plan?
Yes, where the program and file call for both. We build them from one set of assumptions so they agree.
Will you work directly with our lender?
Yes. With your permission we coordinate with the lender on scope, assumptions and reviewer questions.
What do you need to begin?
Usually: a project description, cost estimate and sources of funds, entity documents, recent financial statements, the lender’s identity and any USDA or lender correspondence about required reports.
Official sources
Page updated . Confirm current program requirements and application instructions with USDA and your lender.
- USDA Rural Development: all programs and services
- USDA: Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program
- USDA: Community Facilities Guaranteed Loan Program
- USDA: Multifamily Housing Programs
- 7 CFR Part 5001 — OneRD Guaranteed Loanmaking and Servicing
Program terms, notices and application windows change; the current official text and your lender’s instructions govern.
Need a USDA feasibility study or business plan?
Only a name and email are needed to start. Program, project and timing details help us scope faster. Prefer to talk first? Schedule a Zoom call or call +1 310-857-2443.
Discuss your feasibility study
Tell us about your project. Only your name and email are required to get started.