SBA 7(a)/504 FOIA · FY1991–PRESENT · VIRGINIA
Closet Factory franchise in Virginia: what the public record shows
Franchisees of Closet Factory in Virginia have taken 7 SBA loans in the FY1991–present FOIA files (average $299,142). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. Closet Factory's national ratio is 1.4× (not clearly different from 1.0×).
Loans in VA
7
Charged off (all years)
0 of 5
Loss ratio in VA
—
Loss ratio nationally (not clear)
1.4×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = VA. 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
3,746
statewide, all operators
Per 100k residents
42.5
national 39.6
Versus the country
+7%
denser
Every business in Closet Factory's industry operating in Virginia — 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
$1,199
Virginia, BLS QCEW 2025
National average
$1,252
same industry, all states
Versus the country
-4%
cheaper to staff
What Closet Factory's industry actually pays workers in Virginia, 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 VA | Charged off (all years) | Loss ratio in VA | Units in VA |
|---|---|---|---|---|
| GLASS DOCTOR | 16 | 4 of 7 | — | 5 |
| CERTA PROPAINTERS | 14 | 1 of 8 | — | 17 |
| Mr. Handyman | 10 | 2 of 7 | — | — |
| Budget Blinds | 8 | 0 of 6 | — | — |
| College Hunks Hauling Junk | 8 | 1 of 3 | — | 7 |
| FCI | 8 | 0 of 2 | — | 13 |
| MR. APPLIANCE | 7 | 1 of 4 | — | 9 |
| ProLift Garage Doors | 6 | 1 of 1 | — | — |
| ACE HANDYMAN SERVICES | 5 | 1 of 1 | — | 11 |
| Five Star Bath Solutions | 5 | 1 of 2 | — | — |
| That 1 Painter | 5 | — | — | 14 |
Other systems in Closet Factory's sector whose franchisees borrowed in Virginia. 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 Closet Factory’s numbers, including talking you out of a bad deal.