SBA 7(a)/504 FOIA · FY1991–PRESENT · INDIANA
Checkers Drive-in Restaurant franchise in Indiana: what the public record shows
Franchisees of Checkers Drive-in Restaurant in Indiana have taken 5 SBA loans in the FY1991–present FOIA files (average $475,500). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. Checkers Drive-in Restaurant's national ratio is 1.3× (not clearly different from 1.0×).
Loans in IN
5
Charged off (all years)
2 of 4
Loss ratio in IN
—
Loss ratio nationally (not clear)
1.3×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = IN. Loss ratio = charge-offs among loans approved through FY2020 ÷ the charge-offs expected if each had defaulted at the national rate for franchise loans approved the same year; 1.0× is the same. Only charged-off and paid-in-full loans count. A ratio is shown at 30+ such loans; “not clear” marks a ratio chance alone could produce. The all-years count mixes every era and is evidence, not a rate to compare. Borrowers are matched to the brand by name and SBA franchise code; some matches may be wrong or missing.
Businesses in this industry
11,431
statewide, all operators
Per 100k residents
165.1
national 179.9
Versus the country
-8%
thinner
Every business in Checkers Drive-in Restaurant's industry operating in Indiana — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across the brand-state cells in the loan data, denser markets have historically charged off less often than the thinnest (see the research page). A crowded market is usually proven demand; an empty one is often empty for a reason.
Avg weekly wage, this industry
$436
Indiana, BLS QCEW 2025
National average
$537
same industry, all states
Versus the country
-19%
cheaper to staff
What Checkers Drive-in Restaurant's industry actually pays workers in Indiana, from the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (2025), employment-weighted across counties. This cost signal is independent of the FDD: a market can look demand-rich above and still carry a margin headwind here if local wages run hot for the sector.
| System | Loans in IN | Charged off (all years) | Loss ratio in IN | Units in IN |
|---|---|---|---|---|
| Subway | 238 | 6 of 191 | 0.2× | 535 |
| DAIRY QUEEN | 142 | 2 of 104 | 0.1× | — |
| Jimmy John's | 51 | 0 of 38 | 0× | — |
| Culver's | 49 | 3 of 32 | 0.6×NOT CLEAR | — |
| WINGS ETC. | 45 | 2 of 30 | 0.4×NOT CLEAR | 23 |
| Quiznos | 41 | 5 of 35 | 0.7×NOT CLEAR | — |
| Biggby Coffee | 38 | 0 of 12 | — | — |
| Little Caesars | 37 | 1 of 28 | — | — |
| Ritter'S Frozen Custard | 36 | 7 of 26 | — | — |
| Blimpie | 32 | 12 of 27 | — | — |
| Domino's Pizza | 30 | 1 of 22 | — | — |
| Smoothie King | 24 | 0 of 17 | — | — |
Other systems in Checkers Drive-in Restaurant's sector whose franchisees borrowed in Indiana. A loss ratio appears only where at least 30 loans approved through FY2020 have resolved; “—” means too few.
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing Checkers Drive-in Restaurant’s numbers, including talking you out of a bad deal.