SBA 7(a)/504 FOIA · FY1991–PRESENT · MINNESOTA
Subway franchise in Minnesota: what the public record shows
Franchisees of Subway in Minnesota have taken 108 SBA loans since 1991 (average $248,179), and of the 75 loans whose story has ended, 5.3% 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 355 franchised outlets in Minnesota (fiscal 2025) — about 6.13 per 100k residents.
Loans in MN
108
Resolved
75
Local charge-off
5.3%
National charge-off
6.8%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MN. 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 | 393 | 0 |
| 2024 | 374 | 0 |
| 2025 | 355 | 0 |
| System | Loans in MN | Local charge-off | Units in MN |
|---|---|---|---|
| DAIRY QUEEN | 143 | 5.3% | — |
| Nautical Bowls | 30 | 25.0% | 0 |
| Honest-1 | 23 | 0.0% | 16 |
| Fastsigns | 20 | 11.1% | — |
| Budget Blinds | 19 | thin | — |
| PRECISION TUNE FRANCHISE AGREEMENT | 19 | 31.3% | 8 |
| Minuteman Press | 18 | 14.3% | — |
| SERVICEMASTER RESTORE | 15 | 0.0% | 71 |
| Radioshack | 13 | 18.2% | — |
| Sport Clips | 13 | 10.0% | 46 |
| Sears Catalog Store | 12 | 40.0% | — |
| Country Kitchen | 11 | 10.0% | — |
Same sector, same state, same public records — how Subway compares to the systems a buyer in Minnesota would actually be choosing between. Local rates under 10 resolved loans are marked thin, not hidden.
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