SBA 7(a)/504 FOIA · FY1991–PRESENT · NEW JERSEY
Learning Express franchise in New Jersey: what the public record shows
Franchisees of Learning Express in New Jersey have taken 11 SBA loans in the FY1991–present FOIA files (average $172,818). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. Learning Express's national ratio is 1.3× (not clearly different from 1.0×). Its latest FDD Item 20 state table reports 8 franchised outlets in New Jersey (fiscal 2019) — about 0.08 per 100k residents.
Loans in NJ
11
Charged off (all years)
2 of 9
Loss ratio in NJ
—
Loss ratio nationally (not clear)
1.3×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = NJ. 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.
| Fiscal year | Franchised | Company-owned |
|---|---|---|
| 2017 | 10 | — |
| 2018 | 8 | — |
| 2019 | 8 | — |
| System | Loans in NJ | Charged off (all years) | Loss ratio in NJ | Units in NJ |
|---|---|---|---|---|
| General Nutrition Center | 16 | 0 of 4 | — | — |
| Ace Hardware | 11 | 2 of 4 | — | — |
| Moto Photo | 10 | 1 of 10 | — | — |
| Naturals2Go | 9 | 0 of 2 | — | — |
| Play It Again Sports | 9 | 0 of 8 | — | — |
| Cartridge World | 8 | 0 of 5 | — | — |
| Foot Solutions | 6 | 2 of 3 | — | — |
| Hallmark Card Shop | 5 | 0 of 5 | — | — |
| Once Upon a Child | 5 | 0 of 1 | — | — |
Other systems in Learning Express's sector whose franchisees borrowed in New Jersey. 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 Learning Express’ numbers, including talking you out of a bad deal.