SBA 7(a)/504 FOIA · FY1991–PRESENT · IOWA
Subway franchise in Iowa: what the public record shows
Franchisees of Subway in Iowa have taken 85 SBA loans since 1991 (average $271,997), and of the 68 loans whose story has ended, 11.8% were charged off — versus 6.8% for Subway nationally and 14.8% across all rateable franchise brands. Its latest FDD Item 20 state table reports 242 franchised outlets in Iowa (fiscal 2025) — about 7.46 per 100k residents.
Loans in IA
85
Resolved
68
Local charge-off
11.8%
National charge-off
6.8%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = IA. 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.
| Fiscal year | Franchised | Company-owned |
|---|---|---|
| 2023 | 259 | 0 |
| 2024 | 248 | 0 |
| 2025 | 242 | 0 |
| System | Loans in IA | Local charge-off | Units in IA |
|---|---|---|---|
| DAIRY QUEEN | 43 | 7.9% | — |
| Blimpie | 25 | 40.9% | — |
| HOTWORX | 17 | thin | 13 |
| QUALITY INN | 17 | 10.0% | 31 |
| Matco Tools | 16 | 26.7% | — |
| Hardee's | 15 | 0.0% | 47 |
| PITA PIT | 12 | 36.4% | 11 |
| Radioshack | 11 | 27.3% | — |
| Home Instead | 9 | thin | 9 |
| Pickerman'S | 9 | thin | — |
| SERVICEMASTER RESTORE | 8 | thin | 23 |
| Culligan | 7 | thin | 21 |
Same sector, same state, same public records — how Subway compares to the systems a buyer in Iowa 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 Subway's numbers, including talking you out of a bad deal.