GL
SBA 504 certified development company
Great Lakes Commercial Finance
- Total loans
- 107
- Loan volume
- $87.8M
- Avg loan size
- $820K
- Default rate
- 17.6%
- vs 13.3% national avg
Defaults
12
Franchises funded
78
Risk rating
ELEVATED
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Culver's Frozen Custard | 8 | $5.3M | 12.5% |
| Red Roof Inn | 4 | $3.6M | 25.0% |
| Best Western Inn | 3 | $2.7M | 0.0% |
| Americinn | 3 | $3.1M | 66.7% |
| Culver's | 3 | $2.7M | 0.0% |
| Fazoli's (italian Restaurant) | 2 | $959K | 0.0% |
| Stanley's Steamer Carpet Clean | 2 | $682K | 0.0% |
| Mobil Oil (stations) | 2 | $376K | 50.0% |
| Super 8 Motel | 2 | $1.5M | 50.0% |
| Save - A - Lot | 2 | $685K | 0.0% |
| Superior Walls | 2 | $1.2M | 100.0% |
| Comfort Suites | 2 | $2.1M | 0.0% |
| Culver's ButterBurgers & Froze | 2 | $2.4M | — |
| Two Men and a Truck | 2 | $1.6M | — |
| Save-A-Lot Food Stores- Licens | 2 | $3.2M | — |
| Temporary Franchises | 2 | $971K | 0.0% |
| Tommy's Express | 2 | $4.2M | — |
| Certified Restoration DryClean | 2 | $2.5M | — |
| Holiday Inn Express | 1 | $917K | 0.0% |
| National Car Care Center | 1 | $679K | 0.0% |
Lending volume by year
1'92
1
2
1
4
1'99
1
1
3
7
7'05
5
4
3
3
3'10
5
2
5
1
5'15
6
4
7
1
1'20
4
7
3
1
7'25
1'26
Source: SBA 504 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%).