SBA 7(a)/504 FOIA · FY1991–PRESENT · VERMONT
Subway franchise in Vermont: what the public record shows
Franchisees of Subway in Vermont have taken 18 SBA loans since 1991 (average $93,650), and of the 18 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 33 franchised outlets in Vermont (fiscal 2025) — about 5.09 per 100k residents.
Loans in VT
18
Resolved
18
Local charge-off
0.0%
National charge-off
6.8%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = VT. 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 | 41 | 0 |
| 2024 | 36 | 0 |
| 2025 | 33 | 0 |
| System | Loans in VT | Local charge-off | Units in VT |
|---|---|---|---|
| ECONO LODGE | 7 | thin | 3 |
Same sector, same state, same public records — how Subway compares to the systems a buyer in Vermont 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.