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SBA 7(a) franchise lending portfolio
Herring Bank
AVERAGE risk
- Total loans
- 23
- Loan volume
- $9.1M
- Avg loan size
- $395K
- Default rate
- 14.3%
- vs 15.4% national avg
Defaults
3
Avg interest
6.62%
Franchises funded
16
Risk rating
AVERAGE
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Subway Sandwich Shop | 5 | $1.2M | 0.0% |
| Wild Birds Unlimited | 2 | $135K | 50.0% |
| Texaco Service Station | 2 | $85K | 0.0% |
| Mail Boxes Etc. Usa | 2 | $700K | 0.0% |
| Roto Rooter | 1 | $193K | 0.0% |
| Golden Corral (restaurant) | 1 | $90K | 0.0% |
| Mars | 1 | $50K | 0.0% |
| Physician's Weight Loss Center | 1 | $70K | 100.0% |
| Jason's Deli | 1 | $1.5M | 0.0% |
| Western Sizzlin Steak House | 1 | $75K | 100.0% |
| Merle Norman Cosmetics | 1 | $85K | 0.0% |
| Glamour Shots | 1 | $66K | 0.0% |
| The UPS Store | 1 | $150K | 0.0% |
| Hampton Inns | 1 | $2.9M | 0.0% |
| Econo Lodge by Choice Hotels/E | 1 | $1.4M | — |
| Red Roof Inn | 1 | $446K | — |
Lending volume by year
1'95
2'96
3'97
1'99
1'01
4'02
2'03
2'04
3'05
1'11
1'12
2'23
Herring 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%).