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SBA 7(a) franchise lending portfolio
First Internet Bank of Indiana
AVERAGE risk
- Total loans
- 267
- Loan volume
- $255.5M
- Avg loan size
- $957K
- Default rate
- 11.8%
- vs 15.4% national avg
Defaults
12
Avg interest
7.89%
Franchises funded
163
Risk rating
AVERAGE
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Petland/Safari Stan's | 11 | $25.7M | — |
| Crumbl | 10 | $7.1M | 0.0% |
| Glo Tanning | 8 | $7.8M | 0.0% |
| Subway Sandwich Shop | 6 | $1.9M | 16.7% |
| Cd One Price Cleaners | 6 | $5.0M | 0.0% |
| PickUp USA Fitness | 6 | $4.1M | 100.0% |
| Mobil Oil (stations) | 5 | $4.6M | 0.0% |
| Massage Envy | 4 | $2.1M | 0.0% |
| Which Wich | 4 | $1.3M | 75.0% |
| Jimmy John's | 4 | $1.6M | 0.0% |
| Baymont Inn & Suites | 4 | $8.9M | 0.0% |
| Face Foundrie | 4 | $1.6M | — |
| Benjamin Moore - New Entrepren | 3 | $220K | 0.0% |
| Subway | 3 | $1.1M | 0.0% |
| Super 8 | 3 | $4.9M | 0.0% |
| DQ Grill & Chill Operating Agr | 3 | $3.5M | 0.0% |
| Hotworx | 3 | $1.5M | 100.0% |
| GPM Empire, LLC (Multi Brands) | 3 | $1.6M | 100.0% |
| Sky Zone Indoor Trampoline Par | 3 | $10.8M | — |
| The Joint...The Chiropractic P | 3 | $1.3M | — |
Lending volume by year
3'09
4'10
5'11
6'12
2'13
9'14
10'15
8'16
15'17
11'18
12'19
18'20
21'21
37'22
56'23
29'24
11'25
10'26
First Internet Bank of Indiana default rate by loan vintage
BrandNational avg
Geographic exposure
4820.0%
3650.0%
323.7%
170.0%
150.0%
130.0%
11—
100.0%
100.0%
90.0%
Portfolio summary
Total funded$255.5M
Defaults12 of 267
Risk tierAVERAGE
Avg rate7.89%
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%).