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SBA 7(a) franchise lending portfolio
OceanFirst Bank, National Association
CRITICAL risk
- Total loans
- 34
- Loan volume
- $21.7M
- Avg loan size
- $637K
- Default rate
- 31.3%
- vs 15.4% national avg
Defaults
10
Avg interest
6.21%
Franchises funded
30
Risk rating
CRITICAL
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Gold's Gym | 2 | $2.2M | 50.0% |
| Philly Soft Pretzel Factory | 2 | $325K | 0.0% |
| Mail Boxes Etc. Usa | 2 | $145K | 50.0% |
| Quiznos | 2 | $175K | 100.0% |
| Millicare Environmental Servic | 1 | $450K | 0.0% |
| Days Inn | 1 | $1.8M | 0.0% |
| Foot Stop Enterprises | 1 | $70K | 0.0% |
| Four Seasons Sunrooms | 1 | $60K | 0.0% |
| Medicap Pharmacy | 1 | $150K | 0.0% |
| United Check Cashing,inc. | 1 | $80K | 0.0% |
| Golf Etc. | 1 | $20K | 0.0% |
| Cruise One | 1 | $150K | 100.0% |
| Extra Innings Training Centers | 1 | $50K | 0.0% |
| Red Carpet Inn | 1 | $1.8M | 0.0% |
| Dunkin Donuts | 1 | $732K | 0.0% |
| Jon'ric At Manalapan | 1 | $400K | 100.0% |
| The UPS Store | 1 | $90K | 0.0% |
| Hobbytown Usa | 1 | $150K | 100.0% |
| Auntie Ann's (soft Pretzels) | 1 | $634K | 100.0% |
| Booster Juice | 1 | $150K | 100.0% |
Lending volume by year
4'98
2'99
3'00
2'04
4'05
1'06
9'07
2'08
1'11
1'13
1'14
2'17
2'18
OceanFirst Bank, National Association default rate by loan vintage
BrandNational avg
Geographic exposure
Portfolio summary
Total funded$21.7M
Defaults10 of 34
Risk tierCRITICAL
Avg rate6.21%
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%).