SBA 7(a)/504 FOIA · FY1991–PRESENT · WISCONSIN
Subway franchise in Wisconsin: what the public record shows
Franchisees of Subway in Wisconsin have taken 146 SBA loans since 1991 (average $153,344), and of the 128 loans whose story has ended, 9.4% 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 425 franchised outlets in Wisconsin (fiscal 2025) — about 7.13 per 100k residents.
Loans in WI
146
Resolved
128
Local charge-off
9.4%
National charge-off
6.8%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = WI. 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 | 465 | 0 |
| 2024 | 444 | 0 |
| 2025 | 425 | 0 |
| System | Loans in WI | Local charge-off | Units in WI |
|---|---|---|---|
| DAIRY QUEEN | 77 | 8.6% | — |
| ECONO LODGE | 20 | 0.0% | 12 |
| Matco Tools | 20 | 17.6% | — |
| QUALITY INN | 19 | 0.0% | 36 |
| Fastsigns | 17 | thin | — |
| Sport Clips | 15 | 0.0% | 32 |
| Minuteman Press | 14 | 25.0% | — |
| Harley Davidson | 12 | thin | — |
| MASSAGE ENVY | 12 | thin | 11 |
| Radioshack | 10 | thin | — |
| Country Inn | 9 | thin | 24 |
| SERVICEMASTER RESTORE | 9 | thin | 64 |
Same sector, same state, same public records — how Subway compares to the systems a buyer in Wisconsin 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.