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SBA 7(a) franchise lending portfolio
Lake Michigan CU
EXCELLENT risk
- Total loans
- 42
- Loan volume
- $35.6M
- Avg loan size
- $849K
- Default rate
- 0.0%
- vs 15.4% national avg
Defaults
0
Avg interest
7.99%
Franchises funded
32
Risk rating
EXCELLENT
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Carrot Express | 3 | $891K | 0.0% |
| Cold Stone Creamery | 3 | $1.4M | 0.0% |
| Grain & Berry Cafe | 3 | $1.3M | — |
| La Quinta by Wyndham a.k.a. La | 2 | $4.8M | 0.0% |
| BrightStar Care | 2 | $1.3M | — |
| Smartstyle | 2 | $1.4M | 0.0% |
| Hotworx | 2 | $898K | 0.0% |
| Dairy Queen Operating Agreemen | 1 | $2.0M | 0.0% |
| Crushr | 1 | $283K | — |
| Crs | 1 | $256K | — |
| Venture X | 1 | $4.1M | 0.0% |
| Little Caesars | 1 | $1.9M | — |
| Qdoba Restaurant Corporation | 1 | $844K | 0.0% |
| Signarama | 1 | $490K | — |
| Whit's Frozen Custard | 1 | $241K | 0.0% |
| Petbar | 1 | $315K | — |
| Arthur Murray Dance Studios | 1 | $714K | — |
| The Back Nine | 1 | $446K | — |
| Lil'Kickers | 1 | $52K | — |
| HobbyTown | 1 | $709K | — |
Lending volume by year
3'19
7'20
9'21
6'22
10'23
2'24
2'25
3'26
Lake Michigan CU 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%).