NE
SBA 504 certified development company
Northeastern Economic Development Corporation
- Total loans
- 10
- Loan volume
- $10.1M
- Avg loan size
- $1.0M
- Charge-off rate
- 33.3%
- vs 13.3% national avg
Defaults
1
Franchises funded
8
Risk rating
CRITICAL
Top franchise exposures
| Franchise | Loans | Volume | Default % |
|---|---|---|---|
| Chrysler - Sales and Service A | 2 | $1.9M | N/A |
| Wendy's | 2 | $2.0M | N/A |
| Dunkin Donuts | 1 | $479K | 0.0% (low risk) |
| Ramada Inn | 1 | $1.7M | 100.0% (very high risk) |
| Motel 6 | 1 | $1.2M | N/A |
| State Farm Insurance | 1 | $148K | N/A |
| Temporary Franchises | 1 | $322K | 0.0% (low risk) |
| Ford Motor Company Dealer Sale | 1 | $2.3M | N/A |
Lending volume by year
1'05
1'06
1'10
1'12
1'13
1'18
1'20
3'22
Geographic coverage
Pennsylvania
1033.3% (very high risk)
Portfolio summary
Total funded$10.1M
Defaults1 of 10
Risk tierCRITICAL
Source: SBA 504 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%).