Mr. Electric Franchise Failure Rate
SBA 7(a) loan default data, FY2010–FY2019 · Updated 2026
Mr. Electric franchisees defaulted on 7.1% of SBA 7(a) loans between FY2010 and FY2019 — 2 of 28 loans were charged off — according to U.S. Small Business Administration data. That is roughly in line with the Electrical Contractors and Other Wiring Installation Contractors industry average of 7.8%.
- 7.1%SBA default rate2 of 28 loans
- 28loans resolvedapproved FY2010–FY2019
- 7.8%Electrical Contractors and Other Wiring Installation Contractors averageall SBA loans in the industry
- 10.2%all-franchise average7.8% non-franchised
| SBA default rate | 7.1% |
|---|---|
| Loans approved | 28 |
| Loans charged off | 2 |
| Date range | FY2010–FY2019 |
| Industry | Electrical Contractors and Other Wiring Installation Contractors |
| Industry average | 7.8% |
| Data source | U.S. SBA 7(a) FOIA loan data |
Most SBA default figures published online use loans approved since 2020 — loans that have had six years or less to fail — so those rates are floors, not outcomes. Every rate on this site is computed from the matured FY2010–FY2019 cohort: loans that have been paid in full or charged off, so the result is settled. Loans approved since 2020 are shown as counts so early charge-offs are visible without being mistaken for a rate.
Source: U.S. SBA FOIA dataset, statuses as of June 30, 2026. Figures also in the comparison table below.
About 1 in 14 Mr. Electric SBA borrowers failed to repay — below the Electrical Contractors and Other Wiring Installation Contractors average of 7.8%.
What is the Mr. Electric franchise failure rate on SBA loans?
Mr. Electric is a Electrical Contractors and Other Wiring Installation Contractors franchise. This page reports the outcome of every SBA 7(a) loan the U.S. Small Business Administration's public FOIA file attributes to Mr. Electric franchisees: 28 loans approved between fiscal 2010 and 2019, of which 2 were charged off. Loan statuses are as of June 30, 2026, and the cohort has matured, so these are settled outcomes rather than projections.
- SBA 7(a) loans approved FY2010–FY201928
- Charged off2
- Charge-off rate7.1%
- Electrical Contractors and Other Wiring Installation Contractors franchise benchmark7.8%
- Brand vs industry0.9x
- All-franchise SBA benchmark10.2%
- Average loan size, 2010s cohort$133,211
- New SBA loans since 202088
- Early charge-offs since 20203
How does Mr. Electric compare with other Electrical Contractors and Other Wiring Installation Contractors franchises?
The table sets Mr. Electric's charge-off rate beside its Electrical Contractors and Other Wiring Installation Contractors peers and the two economy-wide benchmarks. All figures use the same cohort — SBA 7(a) loans approved FY2010–FY2019, statuses as of June 30, 2026 — and the same denominator of resolved loans, so they are directly comparable.
| Measure | Mr. Electric | Electrical Contractors and Other Wiring Installation Contractors | All franchises | All SBA borrowers |
|---|---|---|---|---|
| Default (charge-off) rate | 7.1% | 7.8% | 10.2% | 8.0% |
| Loans in sample | 28 | — | — | — |
| Defaults | 2 | — | — | — |
| Average loan size | $133,211 | — | — | — |
What has Mr. Electric SBA lending looked like since 2020?
Since 2020, Mr. Electric franchisees have taken 88 new SBA 7(a) loans. 3 have already charged off. Early defaults on loans under six years old are worth noting. Most SBA failures take longer to develop.
Loans approved since 2020, by fiscal year — counts only: 3 have charged off to date and most are still outstanding, so no rate is drawn.
Source: U.S. SBA FOIA dataset, statuses as of June 30, 2026.
Show the numbers behind this chart
| Fiscal year | Loans | Charged off | Rate |
|---|---|---|---|
| FY2010 | 1 | 0 | 0.0% |
| FY2011 | 2 | 0 | 0.0% |
| FY2012 | 2 | 0 | 0.0% |
| FY2013 | 2 | 0 | 0.0% |
| FY2014 | 1 | 0 | 0.0% |
| FY2015 | 1 | 0 | 0.0% |
| FY2016 | 4 | 0 | 0.0% |
| FY2017 | 5 | 1 | 20.0% |
| FY2018 | 4 | 0 | 0.0% |
| FY2019 | 6 | 1 | 16.7% |
| FY2020 | 11 | — | outstanding |
| FY2021 | 9 | — | outstanding |
| FY2022 | 6 | — | outstanding |
| FY2023 | 18 | — | outstanding |
| FY2024 | 17 | — | outstanding |
| FY2025 | 19 | — | outstanding |
| FY2026 | 8 | — | outstanding |
How to read this
A charge-off means a franchisee borrowed, operated, and failed severely enough that the SBA wrote off the government-guaranteed loan. Unlike franchisor marketing or Item 19 disclosures, this is an observed outcome recorded by a federal agency. One caveat cuts the other way: SBA borrowers are typically less capitalized than all-cash buyers, so these rates can overstate risk for well-funded operators.
How reliable is this number?
Mr. Electric's figure rests on 28 resolved SBA 7(a) loans approved between fiscal 2010 and 2019. That cohort has matured, so the rate is a settled outcome, not a projection. With 28 resolved loans, one default moves the rate by about 3.6 percentage points. Loans approved since 2020 are excluded from the rate because most are still outstanding; they appear on this page as counts only. Every Mr. Electric figure is recomputed from the public SBA FOIA file on each rebuild.
Based on 28 resolved loans — directional, not precise.
Is Mr. Electric in financial trouble? What the SBA data shows
Mr. Electric's SBA 7(a) default rate was 7.1% for loans approved FY2010–FY2019 (2 of 28 loans charged off) — the only Electrical Contractors and Other Wiring Installation Contractors brand tracked here. A default rate close to the Electrical Contractors and Other Wiring Installation Contractors average of 7.8% is, on its own, neither a warning sign nor a reassurance.
Frequently asked
- What is Mr. Electric's franchise failure rate?
- Mr. Electric franchisees defaulted on 7.1% of SBA 7(a) loans between FY2010 and FY2019 — 2 of 28 loans were charged off — according to U.S. Small Business Administration data. That is roughly in line with the Electrical Contractors and Other Wiring Installation Contractors industry average of 7.8%.
- How does Mr. Electric compare to other Electrical Contractors and Other Wiring Installation Contractors franchises?
- Mr. Electric's 7.1% SBA default rate is roughly in line with the Electrical Contractors and Other Wiring Installation Contractors industry average of 7.8%. See every Electrical Contractors and Other Wiring Installation Contractors franchise ranked on the Electrical Contractors and Other Wiring Installation Contractors industry page. Electrical Contractors and Other Wiring Installation Contractors franchises →
- What does 'SBA default rate' mean?
- An SBA default rate is the share of SBA 7(a) loans, approved FY2010–FY2019 and since resolved (paid in full or charged off), that were charged off — written off after the borrower failed to repay. It is not a measure of unit closures.
Source
Source: U.S. Small Business Administration, 7(a) loan program charge-off data, FY2010–FY2019. Franchise data is matched on the SBA's franchise code / brand name. "Failure rate" here means the share of approved loans (resolved: paid in full or charged off) that were charged off; it is not a measure of unit closures. Last updated September 30, 2026.
Every brand in one table, with percentiles and breakdowns by year, industry and loan size: franchise SBA default rates, all 415 brands.
Cite this page
Franchise Default Rates (2026). Mr. Electric franchise SBA 7(a) default rate, FY2010–FY2019 cohort: 7.1% (2 of 28 loans charged off). Derived from U.S. SBA FOIA data, loan statuses as of June 30, 2026.
https://franchisefailurerates.com/franchise/mr-electric/ · Data & methodology · Download the dataset (CSV)