RL
SBA 7(a) franchise lending portfolio
Readycap Lending, LLC
Risk rating: High Risk
- Total loans
- 4,149
- Loan volume
- $2.3B
- Avg loan size
- $543K
- Charge-off rate
- 32.4%
- vs 16.0% national
Charged off
1,162
Avg interest
8.26%
Franchises funded
959
Risk rating
High Risk
Top franchise exposures
| Franchise | Loans | Volume | Charge-off % |
|---|---|---|---|
| Dunkin Donuts | 179 | $111.9M | 12.8% (average) |
| The UPS Store | 145 | $27.8M | 25.5% (high risk) |
| Primrose School (daycare) | 119 | $168.8M | 3.4% (excellent) |
| Quiznos | 116 | $17.7M | 42.2% (high risk) |
| Schlotzsky's Sandwich Shop | 108 | $39.2M | 30.8% (high risk) |
| Subway Sandwich Shop | 98 | $23.7M | 8.2% (good) |
| Planet Beach | 70 | $14.2M | 50.0% (high risk) |
| Meineke Car Care | 63 | $18.6M | 49.2% (high risk) |
| Alphagraphics, Printshops Of T | 61 | $18.4M | 45.0% (high risk) |
| Domino's Pizza | 53 | $18.6M | 35.8% (high risk) |
| Flowerama | 51 | $14.3M | 28.0% (high risk) |
| All Tune And Lube | 48 | $4.1M | 68.8% (high risk) |
| Baskin-Robbins 31 Ice Cream | 41 | $12.1M | 19.5% (elevated) |
| Blimpie | 39 | $5.9M | 43.6% (high risk) |
| Dairy Queen | 37 | $13.4M | 32.4% (high risk) |
| Cold Stone Creamery, Inc. | 37 | $11.5M | 54.1% (high risk) |
| Fast Frame | 35 | $4.1M | 51.4% (high risk) |
| Papa Murphy's Take & Bake Pizz | 32 | $5.0M | 15.6% (elevated) |
Lending volume by year
Show the numbers by year
| Fiscal year | Loans |
|---|---|
| FY1992 | 1 |
| FY1993 | 15 |
| FY1994 | 49 |
| FY1995 | 121 |
| FY1996 | 206 |
| FY1997 | 329 |
| FY1998 | 269 |
| FY1999 | 209 |
| FY2000 | 197 |
| FY2001 | 155 |
| FY2002 | 258 |
| FY2003 | 365 |
| FY2004 | 372 |
| FY2005 | 377 |
| FY2006 | 180 |
| FY2007 | 110 |
| FY2008 | 120 |
| FY2009 | 15 |
| FY2010 | 16 |
| FY2011 | 19 |
| FY2012 | 3 |
| FY2014 | 4 |
| FY2015 | 12 |
| FY2016 | 19 |
| FY2017 | 39 |
| FY2018 | 46 |
| FY2019 | 49 |
| FY2020 | 33 |
| FY2021 | 102 |
| FY2022 | 71 |
| FY2023 | 129 |
| FY2024 | 134 |
| FY2025 | 111 |
| FY2026 | 14 |
SBA 7(a) · charge-off rate by approval year
Readycap Lending, LLC: above all franchise loans in 19 of 27 rated years
Hollow rings on the axis: years with fewer than 10 resolved loans, not rated (too few to judge; recent years are too early to judge while loans are still being repaid). Their numbers are in the table.
Show the numbers by year
| Year | Resolved | Charged off | Rate |
|---|---|---|---|
| 1993 | 14 | 2 | 14.3% |
| 1994 | 48 | 10 | 20.8% |
| 1995 | 121 | 30 | 24.8% |
| 1996 | 202 | 60 | 29.7% |
| 1997 | 325 | 103 | 31.7% |
| 1998 | 263 | 69 | 26.2% |
| 1999 | 207 | 63 | 30.4% |
| 2000 | 197 | 58 | 29.4% |
| 2001 | 155 | 49 | 31.6% |
| 2002 | 258 | 88 | 34.1% |
| 2003 | 365 | 139 | 38.1% |
| 2004 | 369 | 114 | 30.9% |
| 2005 | 374 | 160 | 42.8% |
| 2006 | 176 | 82 | 46.6% |
| 2007 | 109 | 49 | 45.0% |
| 2008 | 120 | 53 | 44.2% |
| 2009 | 15 | 5 | 33.3% |
| 2010 | 16 | 1 | 6.2% |
| 2011 | 17 | 0 | 0.0% |
| 2012 | 3 | 0 | Too few |
| 2014 | 4 | 1 | Too few |
| 2015 | 9 | 0 | Too few |
| 2016 | 15 | 1 | 6.7% |
| 2017 | 33 | 9 | 27.3% |
| 2018 | 37 | 11 | 29.7% |
| 2019 | 31 | 3 | 9.7% |
| 2020 | 15 | 1 | 6.7% |
| 2021 | 47 | 0 | 0.0% |
| 2022 | 23 | 0 | 0.0% |
| 2023 | 12 | 1 | 8.3% |
| 2024 | 9 | 0 | Too early |
Dashed line: all franchise 7(a) loans approved the same year.
Source and method
SBA 7(a) FOIA loan records. Rate: charged-off loans over resolved loans (paid in full plus charged off) for loans approved that year; it moves as loans are resolved.
Geographic exposure
45929.8% (high risk)
44329.7% (high risk)
39136.5% (high risk)
20041.0% (high risk)
18033.3% (high risk)
15923.4% (high risk)
15237.6% (high risk)
15225.7% (high risk)
14936.4% (high risk)
14827.0% (high risk)
Portfolio summary
Total funded$2.3B
Charged off1,162 of 4,149
Risk tierHigh Risk
Avg rate8.26%
Source: SBA 7(a) FOIA loan-level data, aggregated by FranchiseVerdict
Charge-off 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%), High Risk (>20%).
Frequently asked questions
- How many SBA 7(a) franchise loans has Readycap Lending, LLC originated?
- 4,149 loans totaling $2254.2M. The portfolio carries a 32.4% charge-off rate, earning a “High Risk” risk rating.
- What is the charge-off rate and why does it matter?
- Charge-off rate = charge-offs / (charge-offs + paid-in-full). Across SBA 7(a) franchise lending, the national charge-off rate is 16.0% over 94,550 resolved loans.Portfolios materially above that signal either riskier franchise selection or weaker underwriting. Readycap Lending, LLC's rate of 32.4% is above the national rate.
- Where does this lending data come from?
- SBA 7(a) loan records released under the Freedom of Information Act. Each record carries approval date, amount, lender, business type, NAICS code, location, and outcome. See methodology.
- Which franchise brands does Readycap Lending, LLC fund the most?
- The “Top franchise exposures” table above lists the brands Readycap Lending, LLC has the largest concentration in. Click any brand to see its full FDD-disclosed financials, growth trajectory, and SBA loan performance across all lenders.