SBA 7(a)/504 FOIA · FY1991–PRESENT · INDIANA
JERSEY MIKE'S franchise in Indiana: what the public record shows
Franchisees of JERSEY MIKE'S in Indiana have taken 8 SBA loans since 1991 (average $361,875)— too few resolved loans in-state to publish a local failure rate (we require a resolved cohort, never extrapolate), so the brand's national rate of 4.1% is the better guide. Its latest FDD Item 20 state table reports 32 franchised outlets in Indiana (fiscal 2025) — about 0.46 per 100k residents.
Loans in IN
8
Resolved
3
Local charge-off
thin
National charge-off
4.1%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = IN. Charge-off rate = charged-off ÷ (charged-off + paid-in-full); open loans excluded. A local rate is published only when the resolved cohort clears our floor of 30 loans.
| Fiscal year | Franchised | Company-owned |
|---|---|---|
| 2023 | 22 | 2 |
| 2024 | 26 | 4 |
| 2025 | 32 | 3 |
| System | Loans in IN | Local charge-off | Units in IN |
|---|---|---|---|
| Subway | 238 | 3.1% | 535 |
| DAIRY QUEEN | 142 | 1.9% | — |
| QUALITY INN | 55 | 9.1% | 49 |
| Blimpie | 32 | 44.4% | — |
| MASSAGE ENVY | 21 | 0.0% | 20 |
| BIG O TIRES | 20 | thin | 21 |
| Sport Clips | 19 | 42.9% | 40 |
| Fastsigns | 16 | thin | — |
| Matco Tools | 15 | 46.2% | — |
| PITA PIT | 13 | thin | 3 |
| ECONO LODGE | 12 | 20.0% | 9 |
| Chrysler | 11 | thin | — |
Same sector, same state, same public records — how JERSEY MIKE'S compares to the systems a buyer in Indiana would actually be choosing between. Local rates under 10 resolved loans are marked thin, not hidden.
A broker is paid by the franchisor to place you. I'm paid by you — and the job is pressure-testing JERSEY MIKE'S's numbers, including talking you out of a bad deal.