DELAWARE · SBA 7(a)/504 FOIA · FY1991–PRESENT
Franchises in Delaware: the loan record
Since 1991, banks have made 377 SBA-backed loans to franchisees of 170 brands in Delaware. SBA loans to Delaware franchisees approved through FY2020 defaulted less often than franchise loans made in the same years nationally: 27 charge-offs among 229 resolved loans, where about 39 would be expected (0.7×).
Evidence, all years: 27 of 240 resolved loans were charged off (raw rate 11.3%). The raw rate mixes loans from every era, including the 2006–08 loans that met the recession, so it is not compared with anything here. Borrowers are matched to brands by name, so some matches may be wrong.
377
SBA loans since 1991
170
Brands financed
0.7×
Loss ratio vs same-year loans
35.8
Loans per 100k residents
| # | Brand | Loans | Charged off (all years) | Loss ratio | Deep dive |
|---|---|---|---|---|---|
| 1 | Dunkin' | 18 | 0 of 15 resolved | — | LOCAL RECORD → |
| 2 | Capriotti'S Sandwich Shop | 9 | 0 of 8 resolved | — | LOCAL RECORD → |
| 3 | DAIRY QUEEN | 9 | 0 of 5 resolved | — | LOCAL RECORD → |
| 4 | Rita'S Real Italian Water Ice | 8 | 0 of 6 resolved | — | LOCAL RECORD → |
| 5 | Aamco Transmissions | 7 | 0 of 4 resolved | — | LOCAL RECORD → |
| 6 | Quiznos | 7 | 2 of 7 resolved | — | LOCAL RECORD → |
| 7 | Saladworks | 7 | 1 of 5 resolved | — | LOCAL RECORD → |
| 8 | Huntington Learning Center | 6 | 0 of 3 resolved | — | LOCAL RECORD → |
| 9 | Manhattan Bagel | 6 | 0 of 6 resolved | — | LOCAL RECORD → |
| 10 | Precision Tune Auto Care | 6 | 2 of 4 resolved | — | LOCAL RECORD → |
| 11 | Cold Stone Creamery | 5 | 3 of 3 resolved | — | LOCAL RECORD → |
| 12 | CRUMBL | 5 | 0 of 1 resolved | — | LOCAL RECORD → |
| 13 | Orangetheory | 5 | 0 of 2 resolved | — | LOCAL RECORD → |
| 14 | Papa Johns | 5 | 0 of 5 resolved | — | LOCAL RECORD → |
| 15 | Primohoagies | 5 | 1 of 3 resolved | — | LOCAL RECORD → |
| 16 | RITA'S ICE-CUSTARD-HAPPINESS | 5 | 0 of 3 resolved | — | LOCAL RECORD → |
| 17 | The Goddard School | 5 | 0 of 2 resolved | — | LOCAL RECORD → |
| 18 | THE LITTLE GYM | 5 | 0 of 3 resolved | — | LOCAL RECORD → |
Every SBA 7(a) and 504 loan in the FY1991–present FOIA files (data.sba.gov) whose borrower is matched to a franchise brand and whose borrower state is Delaware. Fuel-supply contracts, insurance agencies and other SBA codes that are not franchises a buyer can purchase are excluded. Totals count every such loan, including brands with too few loans here to list. The loss ratio compares charge-offs among loans approved through FY2020 (old enough that most failures have surfaced) with the charge-offs expected if each loan had defaulted at the national rate for franchise loans approved the same year; 1.0× means the same as same-year franchise loans. Only charged-off and paid-in-full loans count, so still-open loans never dilute it. A ratio prints at 30+ resolved loans; “not clear” marks a ratio that chance alone could produce. Local conditions and lender mix sit inside these numbers; read a brand's national record and its FDD before concluding anything.
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing the numbers, including talking you out of a bad deal.