FI
SBA 7(a) franchise lending portfolio
First Internet Bank of Indiana
AVERAGE risk
- Total loans
- 267
- Loan volume
- $255.5M
- Avg loan size
- $957K
- Charge-off 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 | N/A |
| Crumbl | 10 | $7.1M | 0.0% (low risk) |
| Glo Tanning | 8 | $7.8M | 0.0% (low risk) |
| Subway Sandwich Shop | 6 | $1.9M | 16.7% (high risk) |
| Cd One Price Cleaners | 6 | $5.0M | 0.0% (low risk) |
| PickUp USA Fitness | 6 | $4.1M | 100.0% (very high risk) |
| Mobil Oil (stations) | 5 | $4.6M | 0.0% (low risk) |
| Massage Envy | 4 | $2.1M | 0.0% (low risk) |
| Which Wich | 4 | $1.3M | 75.0% (very high risk) |
| Jimmy John's | 4 | $1.6M | 0.0% (low risk) |
| Baymont Inn & Suites | 4 | $8.9M | 0.0% (low risk) |
| Face Foundrie | 4 | $1.6M | N/A |
| Benjamin Moore - New Entrepren | 3 | $220K | 0.0% (low risk) |
| Subway | 3 | $1.1M | 0.0% (low risk) |
| Super 8 | 3 | $4.9M | 0.0% (low risk) |
| DQ Grill & Chill Operating Agr | 3 | $3.5M | 0.0% (low risk) |
| Hotworx | 3 | $1.5M | 100.0% (very high risk) |
| GPM Empire, LLC (Multi Brands) | 3 | $1.6M | 100.0% (very high risk) |
| Sky Zone Indoor Trampoline Par | 3 | $10.8M | N/A |
| The Joint...The Chiropractic P | 3 | $1.3M | N/A |
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 charge-off rate by loan vintage
BrandNational avg
Geographic exposure
4820.0% (very high risk)
3650.0% (very high risk)
323.7% (low risk)
170.0% (low risk)
150.0% (low risk)
130.0% (low risk)
11N/A
100.0% (low risk)
100.0% (low risk)
90.0% (low risk)
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
Charge-off 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%), High Risk (>20%).
Frequently asked questions
- How many SBA 7(a) franchise loans has First Internet Bank of Indiana originated?
- 267 loans totaling $255.5M. The portfolio carries a 11.8% charge-off rate, earning a “AVERAGE” risk rating.
- What is the charge-off rate and why does it matter?
- Charge-off rate = charge-offs / (charge-offs + paid-in-full). For SBA 7(a) franchise lending, the national average runs 5–8%. Portfolios materially above that signal either riskier franchise selection or weaker underwriting.
- Where does this lending data come from?
- SBA 7(a) loan records released under the Freedom of Information Act. Each record carries approval date, amount, lender, business type, NAICS code, location, and outcome. See methodology.
- Which franchise brands does First Internet Bank of Indiana fund the most?
- The “Top franchise exposures” table above lists the brands First Internet Bank of Indiana has the largest concentration in. Click any brand to see its full FDD-disclosed financials, growth trajectory, and SBA loan performance across all lenders.