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SBA 7(a) franchise lending portfolio
Paragon Bank
EXCELLENT risk
- Total loans
- 169
- Loan volume
- $143.6M
- Avg loan size
- $849K
- Default rate
- 4.6%
- vs 15.4% national avg
Defaults
6
Avg interest
6.71%
Franchises funded
75
Risk rating
EXCELLENT
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Dogtopia | 10 | $8.0M | 0.0% |
| Menchie's | 8 | $2.5M | 25.0% |
| Primrose Schools | 8 | $24.6M | 0.0% |
| Hotworx | 8 | $3.5M | 0.0% |
| Primrose Schools | 7 | $17.7M | 0.0% |
| Mellow Mushroom | 6 | $6.8M | 16.7% |
| CycleBar | 6 | $2.7M | 0.0% |
| Orange Theory Fitness | 5 | $2.5M | 0.0% |
| Marco's Pizza | 5 | $1.9M | 0.0% |
| Jimmy John's | 4 | $1.8M | 0.0% |
| The Woodhouse Day Spa | 4 | $3.4M | 0.0% |
| Firehouse Subs | 4 | $1.3M | 0.0% |
| Nothing Bundt Cakes | 4 | $2.5M | 0.0% |
| Club Pilates | 4 | $1.2M | 0.0% |
| Woodhouse Day Spa / Woodhouse | 4 | $4.1M | 0.0% |
| Clean Juice | 3 | $727K | 0.0% |
| Save-A-Lot Food Stores | 3 | $2.7M | 50.0% |
| The Lash Lounge | 3 | $1.4M | — |
| iCRYO Franchise System LLC | 3 | $1.3M | 0.0% |
| Lizard Thicket | 2 | $592K | 0.0% |
Lending volume by year
1'13
39'15
32'16
14'17
28'18
17'19
5'20
6'21
7'22
8'23
5'24
7'25
Paragon 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%).