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SBA 7(a) franchise lending portfolio
First Merchants Bank
GOOD risk
- Total loans
- 133
- Loan volume
- $79.1M
- Avg loan size
- $595K
- Default rate
- 5.8%
- vs 15.4% national avg
Defaults
6
Avg interest
6.20%
Franchises funded
84
Risk rating
GOOD
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Goldfish Swim School | 12 | $15.2M | 0.0% |
| Goldfish Swim School | 9 | $15.4M | 0.0% |
| Hotbox Pizza | 4 | $470K | 0.0% |
| Quiznos | 3 | $898K | 33.3% |
| A-1 Concrete Leveling, Inc. | 3 | $92K | 0.0% |
| Save - A - Lot | 3 | $1.4M | 0.0% |
| Anytime Fitness | 3 | $702K | 0.0% |
| Chrysler - Sales and Service A | 3 | $2.9M | — |
| Postal Instant Press | 2 | $195K | 0.0% |
| Jackson Hewitt Tax Service | 2 | $367K | 0.0% |
| Servpro | 2 | $185K | 0.0% |
| Bellacino's Pizza | 2 | $278K | 50.0% |
| Skyline Chili | 2 | $615K | 0.0% |
| Massage Envy | 2 | $663K | 0.0% |
| Gigi's Cupcakes | 2 | $319K | 0.0% |
| Little Caesars | 2 | $390K | 0.0% |
| Lawn Doctor | 2 | $165K | 0.0% |
| Menchie's | 2 | $550K | 0.0% |
| Gigi's Cupcakes | 2 | $214K | 0.0% |
| Smartstyle | 2 | $869K | — |
Lending volume by year
3'93
1
1
1
1
1'02
2
7
4
3
9'08
1
2
6
9
6'13
6
14
8
2
7'18
12
2
8
5
1'23
4
7'25
First Merchants Bank default rate by loan vintage
BrandNational avg
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%).