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SBA 7(a) franchise lending portfolio
First Citizens Bank
AVERAGE risk
- Total loans
- 24
- Loan volume
- $10.5M
- Avg loan size
- $436K
- Default rate
- 11.8%
- vs 15.4% national avg
Defaults
2
Avg interest
5.67%
Franchises funded
16
Risk rating
AVERAGE
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Ace Hardware | 4 | $1.1M | 0.0% |
| Planet Fitness | 3 | $4.3M | 0.0% |
| Tide Dry Cleaners | 3 | $2.0M | — |
| Anytime Fitness | 2 | $221K | 0.0% |
| Dairy Queen | 1 | $250K | 0.0% |
| Hardware Hank | 1 | $185K | 0.0% |
| Country Kitchen | 1 | $457K | 0.0% |
| Pita Pit | 1 | $110K | 0.0% |
| Radio Shack | 1 | $67K | 0.0% |
| Snap Fitness | 1 | $275K | — |
| The Pita Pit | 1 | $159K | 100.0% |
| Servpro | 1 | $115K | 0.0% |
| Tide Dry Cleaners | 1 | $850K | — |
| Tailored Living | 1 | $150K | 100.0% |
| Any LabTest Now | 1 | $110K | — |
| Subway | 1 | $150K | 0.0% |
Lending volume by year
1'92
1'93
1'98
1'04
1'05
1'08
2'11
3'13
2'14
3'15
1'16
1'17
1'18
1'19
1'20
2'22
1'23
Source: SBA 7(a) FOIA loan-level data, aggregated by FranchiseVerdict
Default rate = charge-offs / (charge-offs + paid-in-full). Active, exempt, and cancelled loans are excluded. Risk ratings: Excellent (<5%), Good (5-10%), Average (10-15%), Elevated (15-20%), Critical (>20%).