WEST VIRGINIA · SBA 7(a)/504 FOIA · FY1991–PRESENT
Franchises in West Virginia: the loan record
Since 1991, banks have made 483 SBA-backed loans to franchisees of 159 brands in West Virginia. SBA loans to West Virginia franchisees approved through FY2020 defaulted at a rate not clearly different from franchise loans made in the same years nationally: 46 charge-offs among 323 resolved loans, where about 52 would be expected (0.9×).
Evidence, all years: 46 of 337 resolved loans were charged off (raw rate 13.6%). 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.
483
SBA loans since 1991
159
Brands financed
0.9×
Loss ratio vs same-year loans (not clear)
27.3
Loans per 100k residents
| # | Brand | Loans | Charged off (all years) | Loss ratio | Deep dive |
|---|---|---|---|---|---|
| 1 | Subway | 52 | 5 of 45 resolved | 0.7×NOT CLEAR | LOCAL RECORD → |
| 2 | Fox'S Pizza Den | 21 | 3 of 14 resolved | — | LOCAL RECORD → |
| 3 | DAIRY QUEEN | 17 | 1 of 11 resolved | — | LOCAL RECORD → |
| 4 | Ace Hardware | 9 | 1 of 8 resolved | — | LOCAL RECORD → |
| 5 | Days Inn | 9 | 0 of 3 resolved | — | LOCAL RECORD → |
| 6 | Marco's Pizza | 9 | 0 of 8 resolved | — | LOCAL RECORD → |
| 7 | ANYTIME FITNESS | 8 | 0 of 5 resolved | — | LOCAL RECORD → |
| 8 | Cottman Transmission | 6 | 0 of 5 resolved | — | LOCAL RECORD → |
| 9 | Mail Boxes Etc. Usa | 6 | 0 of 6 resolved | — | LOCAL RECORD → |
| 10 | Matco Tools | 6 | 2 of 5 resolved | — | LOCAL RECORD → |
| 11 | Microtel | 6 | 1 of 4 resolved | — | LOCAL RECORD → |
| 12 | Penn Station | 6 | 0 of 6 resolved | — | LOCAL RECORD → |
| 13 | THE UPS STORE (TRADITIONAL) | 6 | 0 of 4 resolved | — | LOCAL RECORD → |
| 14 | Curves for Women | 5 | 0 of 4 resolved | — | LOCAL RECORD → |
| 15 | EDIBLE ARRANGEMENTS | 5 | 0 of 3 resolved | — | LOCAL RECORD → |
| 16 | Heavenly Hams | 5 | 0 of 5 resolved | — | LOCAL RECORD → |
| 17 | Quiznos | 5 | 1 of 3 resolved | — | LOCAL RECORD → |
| 18 | SLEEP INN | 5 | 0 of 1 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 West Virginia. 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.