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SBA 7(a) franchise lending portfolio
SpiritBank
CRITICAL risk
- Total loans
- 37
- Loan volume
- $19.7M
- Avg loan size
- $533K
- Default rate
- 33.3%
- vs 15.4% national avg
Defaults
5
Avg interest
7.64%
Franchises funded
14
Risk rating
CRITICAL
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Simple Simon's Pizza | 22 | $5.2M | 33.3% |
| Holiday Inn Express/Holiday In | 2 | $9.1M | — |
| Sugar Llamas - License Agreeme | 2 | $612K | 0.0% |
| Popeye's Famous Fried Chicken | 1 | $613K | 0.0% |
| Ace Hardware | 1 | $250K | 0.0% |
| Indigo Joe's Sport Pub & Resta | 1 | $626K | 100.0% |
| Great Harvest Bread Co. | 1 | $200K | 100.0% |
| Goddard Early Learning Center | 1 | $471K | 0.0% |
| Fuddrucker's | 1 | $784K | 0.0% |
| Danielson Oil Company of Oklah | 1 | $485K | — |
| Whimsy Cookie Co. | 1 | $415K | 0.0% |
| Office Pride Commercial Cleani | 1 | $135K | — |
| Valero Marketing and Supply Co | 1 | $573K | — |
| The Gravity Vault | 1 | $293K | 100.0% |
Lending volume by year
1'93
1'99
1'05
2'07
1'08
2'18
5'19
3'21
7'22
13'23
1'24
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%).