![Michigan logo](https://cdn.brandfetch.io/michigan.gov/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
Michigan
MI
- Total loans
- 3,994
- Loan volume
- $1.8B
- Default rate
- 14.5%
- Jobs created
- 56,959
Defaults
405
Avg interest
6.97%
Job velocity
3.1
per $100K loaned
Franchises active
1,175
Highest default rates in Michigan
| Franchise | Loans | State % | National % |
|---|---|---|---|
| Image Sun | 8 | 87.5% | 68.8% |
| Bellacino's Pizza | 5 | 80.0% | 40.7% |
| MAACO Auto Painting Center | 8 | 62.5% | 20.9% |
| Sylvan Learning Center | 8 | 62.5% | 25.9% |
| Cold Stone Creamery, Inc. | 21 | 61.9% | 33.9% |
| Papa Murphy's Take & Bake Pizz | 5 | 60.0% | 5.3% |
| Ritter's Frozen Custard | 5 | 60.0% | 29.4% |
| Chem-Dry | 5 | 60.0% | 29.4% |
| Buffalo Wings & Rings | 5 | 60.0% | 39.5% |
| Wireless Toyz | 7 | 57.1% | 65.6% |
Lowest default rates in Michigan
| Franchise | Loans | Default % |
|---|---|---|
| Comfort Inn | 5 | 0.0% |
| Shell Service Station | 5 | 0.0% |
| Tuffy Muffler Center | 7 | 0.0% |
| Jimmy John's | 41 | 0.0% |
| General Nutrition Center | 7 | 0.0% |
| Jets Pizza | 30 | 0.0% |
| Ram's Horn | 5 | 0.0% |
| Dairy Queen | 15 | 0.0% |
| Powerhouse Gyms | 10 | 0.0% |
| Mcdonald's | 5 | 0.0% |
Industry performance (NAICS)
| Industry (NAICS) | Loans | Volume | Default % | Risk |
|---|---|---|---|---|
| Limited-Service Restaurants722513 | 458 | $231.5M | 5.9% | |
| Limited-Service Restaurants722211 | 358 | $92.0M | 19.7% | |
| Hotels & Motels721110 | 248 | $516.1M | 8.4% | |
| Fitness & Recreational Sports713940 | 222 | $70.4M | 11.5% | |
| Snack & Beverage Bars722515 | 161 | $49.5M | 4.8% | |
| Full-Service Restaurants722511 | 136 | $49.9M | 3.7% | |
| Full-Service Restaurants722110 | 118 | $35.1M | 20.3% | |
| Hardware Stores444130 | 69 | $30.2M | 19.0% | |
| Home Health Care Services621610 | 60 | $14.8M | 2.9% | |
| Other Personal Care Services812199 | 58 | $19.6M | 28.6% |
Franchise lending volume by year
12'92
21
32
75
65
67'97
44
41
68
63
104'02
147
161
147
56
91'07
88
55
63
59
90'12
102
156
202
199
181'17
185
203
160
235
208'22
208
170
190
46'26
Michigan default rate by loan vintage
BrandNational avg
Shaded area: recent vintages with few resolved loans; rates may change as loans mature.
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. Job velocity = jobs created per $100K loaned.