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SBA 7(a) franchise lending portfolio
SMBC MANUBANK
AVERAGE risk
- Total loans
- 57
- Loan volume
- $20.7M
- Avg loan size
- $363K
- Default rate
- 12.2%
- vs 15.4% national avg
Defaults
5
Avg interest
6.45%
Franchises funded
30
Risk rating
AVERAGE
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Subway | 11 | $2.2M | 22.2% |
| Blaze Pizza | 9 | $5.9M | 0.0% |
| Subway | 4 | $878K | 0.0% |
| Waba Grill Teriyaki House | 3 | $676K | 0.0% |
| The Flame Broiler | 3 | $561K | 33.3% |
| The Pizza Press | 2 | $690K | 0.0% |
| Menchie's | 2 | $502K | 0.0% |
| Curves For Women | 1 | $67K | 0.0% |
| Homewatch Caregivers | 1 | $60K | 100.0% |
| Cartridge World | 1 | $125K | 100.0% |
| Vert Peak Fitness Center | 1 | $110K | 0.0% |
| Massage Envy | 1 | $395K | 0.0% |
| Pinkberry | 1 | $149K | 0.0% |
| The Pie Hole | 1 | $240K | 0.0% |
| Nurse Next Door | 1 | $205K | — |
| Massage Envy | 1 | $259K | 0.0% |
| Earl of Sandwich | 1 | $302K | 0.0% |
| Blaze Pizza | 1 | $675K | — |
| Del Taco | 1 | $345K | — |
| Dickey's Barbecue Pit | 1 | $150K | 0.0% |
Lending volume by year
1'05
3'06
1'10
1'13
2'14
5'15
10'16
13'17
12'18
6'19
1'21
1'22
1'23
SMBC MANUBANK default rate by loan vintage
BrandNational avg
Geographic exposure
5712.2%
Portfolio summary
Total funded$20.7M
Defaults5 of 57
Risk tierAVERAGE
Avg rate6.45%
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%).