![Western State Bank logo](https://cdn.brandfetch.io/westernstatebank.com/w/128/h/128/fallback/lettermark?c=<img src="https://cdn.brandfetch.io/domain/apple.com?c=1idsvcTjLv919Ax0E2s" alt="Logo by Brandfetch" />){kind=small}
SBA 7(a) franchise lending portfolio
Western State Bank
CRITICAL risk
- Total loans
- 38
- Loan volume
- $28.1M
- Avg loan size
- $740K
- Default rate
- 20.0%
- vs 15.4% national avg
Defaults
4
Avg interest
7.66%
Franchises funded
16
Risk rating
CRITICAL
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Little Caesars | 9 | $8.6M | 0.0% |
| Marco's Pizza | 6 | $1.7M | 33.3% |
| Altitude Trampoline Park | 4 | $9.8M | — |
| Planet Fitness | 3 | $2.0M | 0.0% |
| Papa Murphy's Take 'N' Bake Pi | 3 | $1.1M | 100.0% |
| Firehouse Subs | 2 | $674K | 0.0% |
| Subway | 2 | $353K | — |
| Blimpie | 1 | $83K | 0.0% |
| The UPS Store | 1 | $304K | 0.0% |
| Rosati's Pizza | 1 | $345K | 0.0% |
| Jimmy John's | 1 | $475K | 0.0% |
| Jersey Mike's | 1 | $1.2M | 0.0% |
| Anytime Fitness | 1 | $124K | 0.0% |
| The UPS Store (f/k/a Mail Box | 1 | $279K | — |
| F45 Training | 1 | $495K | — |
| Orange Theory Fitness | 1 | $550K | 0.0% |
Lending volume by year
1'02
1'05
1'09
1'10
1'12
1'18
6'20
10'21
4'22
6'23
6'24
Geographic exposure
625.0%
60.0%
50.0%
40.0%
475.0%
20.0%
20.0%
1—
10.0%
Portfolio summary
Total funded$28.1M
Defaults4 of 38
Risk tierCRITICAL
Avg rate7.66%
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%).