PENNSYLVANIA · NAICS NAICS 6233 family
Pennsylvania assisted living projects run against one of the country's oldest population profiles. Studies translate licensure capacity, month-by-month ramp, payer mix, and staffing models into projections, and reconcile the special-purpose nature of senior housing against the going-concern appraisal and elevated equity requirements.
FEASIBILITY TRIGGER
Special-purpose senior housing is study-mandatory in practice, with month-by-month ramp, payer mix, and staffing analysis expected.
Pennsylvania generated 72 SBA-disbursed assisted living loans between FY2010 and FY2026, worth $67.1 million in approved 7(a) and 504 financing at an average of $931,000 per deal. Ranked #12 of 38 states for assisted living SBA volume, the state captures 1.8% of national assisted living dollars. 91.7% of the loans ran through 7(a) with 504 covering the remainder; 12 approvals have posted since FY2024.
| Disbursed loans (FY2010–FY2026) | 72 |
| Approved volume | $67.1 million |
| Average loan size | $931,000 |
| 7(a) share | 91.7% |
| Approvals since FY2024 | 12 |
| State rank by loan count | #12 of 38 |
Among the 54 seasoned loans in this segment (approvals FY2010–FY2021), 24.1% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for assisted living is 4.1%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 24.1% adverse-resolution rate against the national assisted living benchmark of 4.1% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Pennsylvania deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $931,000 across 72 loans.
Every Pennsylvania assisted living project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Pennsylvania projects most often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and PIDA's low-interest second-mortgage loans stack directly behind the 504. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Pennsylvania's senior demographics rank among the oldest in the country, and Seedcopa's healthcare book extends into adjacent care services, including a $1.3 million Philadelphia home healthcare financing with Univest.
For a national view of this asset class, see our assisted living SBA feasibility overview, and read our related analysis in the assisted living lending research on our blog.
Compare neighboring markets: Oregon, Rhode Island, Texas.
Public SBA and CDC program records, cited as program evidence
$4.5M total project through Florida First Capital
Expansion from 38 to 92 beds with refinance, national program evidence
Florida
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