SBA 7(a)/504 FOIA · FY1991–PRESENT · SOUTH DAKOTA
Subway franchise in South Dakota: what the public record shows
Franchisees of Subway in South Dakota have taken 25 SBA loans since 1991 (average $279,576), and of the 19 loans whose story has ended, 0.0% 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 79 franchised outlets in South Dakota (fiscal 2025) — about 8.55 per 100k residents.
Loans in SD
25
Resolved
19
Local charge-off
0.0%
National charge-off
6.8%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = SD. 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 | 81 | 0 |
| 2024 | 79 | 0 |
| 2025 | 79 | 0 |
| System | Loans in SD | Local charge-off | Units in SD |
|---|---|---|---|
| DAIRY QUEEN | 31 | 4.8% | — |
| Culligan | 10 | thin | 8 |
| Perkins Restaurants | 8 | thin | — |
| Radioshack | 6 | thin | — |
| Sears Catalog Store | 6 | thin | — |
| SERVICEMASTER RESTORE | 6 | thin | 10 |
| Fastsigns | 5 | thin | — |
| Home Instead | 5 | thin | 4 |
Same sector, same state, same public records — how Subway compares to the systems a buyer in South Dakota 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. An independent CPA is paid by you — and the job is pressure-testing Subway's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →