Franchise SBA Early Charge-Offs Since 2020

SBA 7(a) loan default data, FY2010–FY2019 · Updated 2026

Franchisees of the 415 tracked brands have taken 18,206 SBA 7(a) loans since FY2020 and 269 have already charged off — an early charge-off share of 1.5%, which is not a default rate because most of these loans are still outstanding. The Grounds Guys has the most early charge-offs (20 of 162 loans), according to U.S. Small Business Administration data with statuses as of June 30, 2026.

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.

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Which franchises have the most early SBA charge-offs since 2020?

Every brand with at least 30 SBA 7(a) loans approved FY2020 or later, ranked by loans already charged off. Early charge-offs on loans under six years old are notable because most SBA failures take longer to develop. The share column is a floor that can only rise. It is not a rate.

Loans approved FY2020 onward, statuses as of June 30, 2026. Counts only; the cohort is unresolved.

Rank	Brand	Early charge-offs	Loans since 2020	Early charge-off share (not a rate)	Avg loan since 2020	Industry
1	The Grounds Guys	20	162	12.3%	$178,222	Landscaping Services
2	Mr. Appliance	11	78	14.1%	$225,392	Appliance Repair and Maintenance
3	360 Painting	10	73	13.7%	$179,051	Painting and Wall Covering Contractors
4	Rainbow Restoration	9	81	11.1%	$258,668	Residential Remodelers
5	Aire Serv	8	83	9.6%	$252,459	Plumbing, Heating, and Air-Conditioning Contractors
6	Subway	7	322	2.2%	$359,606	Limited-Service Restaurants
7	Glass Doctor	6	45	13.3%	$258,002	Automotive Glass Replacement Shops
8	Spenga	5	33	15.2%	$638,573	Fitness and Recreational Sports Centers
9	CycleBar	5	40	12.5%	$497,070	Fitness and Recreational Sports Centers
10	Window Genie	5	52	9.6%	$159,794	Janitorial Services
11	Restoration 1	5	61	8.2%	$282,164	Commercial and Institutional Building Construction
12	Mosquito Joe	5	69	7.2%	$290,277	Exterminating and Pest Control Services
13	F45 Training	5	149	3.4%	$308,805	Fitness and Recreational Sports Centers
14	Apricot Lane	4	45	8.9%	$165,796	Women's Clothing Stores
15	Homewatch CareGivers	4	45	8.9%	$426,151	Home Health Care Services
16	Dickey's Barbecue Pit	4	64	6.2%	$430,755	Limited-Service Restaurants
17	Real Property Management	4	81	4.9%	$283,681	Residential Property Managers
18	Minuteman Press	4	84	4.8%	$545,889	Commercial Printing (except Screen and Books)
19	Meineke	4	93	4.3%	$613,098	General Automotive Repair
20	Firehouse Subs	4	166	2.4%	$445,266	Limited-Service Restaurants
21	Anytime Fitness	4	304	1.3%	$541,644	Fitness and Recreational Sports Centers
22	The Maids	3	30	10.0%	$199,097	Janitorial Services
23	Clean Juice	3	39	7.7%	$340,856	Snack and Nonalcoholic Beverage Bars
24	Deka Lash	3	40	7.5%	$252,072	Beauty Salons
25	Play It Again Sports	3	70	4.3%	$362,784	Sporting Goods Stores
26	Waxing the City	3	74	4.1%	$371,551	Other Personal Care Services
27	Mr. Handyman	3	79	3.8%	$213,056	Residential Remodelers
28	Mr. Electric	3	88	3.4%	$215,248	Electrical Contractors and Other Wiring Installation Contractors
29	Floor Coverings International	3	112	2.7%	$192,891	Flooring Contractors
30	Marco's Pizza	3	177	1.7%	$432,789	Limited-Service Restaurants
31	Servpro	3	199	1.5%	$934,026	Residential Remodelers
32	TeamLogic IT	2	35	5.7%	$472,614	Computer Systems Design Services
33	Health Mart	2	38	5.3%	$830,108	Pharmacies and Drug Stores
34	Patrice & Associates	2	52	3.8%	$137,558	Employment Placement Agencies
35	Maaco	2	54	3.7%	$743,996	Automotive Body, Paint, and Interior Repair and Maintenance
36	Duck Donuts	2	58	3.4%	$439,369	Limited-Service Restaurants
37	Monster Tree Service	2	58	3.4%	$479,962	Landscaping Services
38	Code Ninjas	2	59	3.4%	$235,220	Computer Training
39	Edible Arrangements	2	63	3.2%	$375,246	All Other Specialty Food Stores
40	Batteries Plus	2	71	2.8%	$462,259	All Other Miscellaneous Store Retailers (except Tobacco Stores)
41	Fit Body Boot Camp	2	75	2.7%	$185,004	Fitness and Recreational Sports Centers
42	Dogtopia	2	92	2.2%	$912,917	Pet Care (except Veterinary) Services
43	PuroClean	2	109	1.8%	$324,340	Janitorial Services
44	Little Caesars	2	133	1.5%	$762,004	Limited-Service Restaurants
45	Smoothie King	2	178	1.1%	$451,498	Limited-Service Restaurants
46	Budget Blinds	2	193	1.0%	$466,792	Window Treatment Stores
47	Domino's Pizza	2	237	0.8%	$812,783	Limited-Service Restaurants
48	Hotworx	2	446	0.4%	$379,241	Fitness and Recreational Sports Centers
49	The UPS Store	2	928	0.2%	$377,414	Private Mail Centers
50	Oxi Fresh Carpet Cleaning	1	30	3.3%	$199,580	Carpet and Upholstery Cleaning Services
51	Central Bark Doggy Day Care	1	31	3.2%	$782,426	Pet Care (except Veterinary) Services
52	The Cleaning Authority	1	31	3.2%	$364,845	Janitorial Services
53	Bin There Dump That	1	32	3.1%	$346,291	Solid Waste Collection
54	SpeedPro Imaging	1	32	3.1%	$459,384	Commercial Printing (except Screen and Books)
55	Nekter Juice Bar	1	40	2.5%	$322,648	Snack and Nonalcoholic Beverage Bars
56	Pearle Vision	1	40	2.5%	$598,022	Offices of Optometrists
57	Elements Massage	1	41	2.4%	$330,466	Other Personal Care Services
58	Lawn Doctor	1	42	2.4%	$281,195	Landscaping Services
59	Great Clips	1	43	2.3%	$952,805	Beauty Salons
60	FirstLight HomeCare	1	44	2.3%	$246,225	Home Health Care Services
61	Sunoco, LLC Fuel Supply Agreement	1	54	1.9%	$1,626,241	Gasoline Stations with Convenience Stores
62	Papa John's	1	57	1.8%	$503,993	Limited-Service Restaurants
63	Baskin-Robbins	1	62	1.6%	$298,160	Snack and Nonalcoholic Beverage Bars
64	Visiting Angels	1	77	1.3%	$772,373	Home Health Care Services
65	Dunkin'	1	84	1.2%	$1,068,845	Limited-Service Restaurants
66	Sport Clips	1	85	1.2%	$519,442	Beauty Salons
67	D-Bat	1	86	1.2%	$852,092	Sports and Recreation Instruction
68	Burn Boot Camp Fitness	1	87	1.1%	$323,574	Fitness and Recreational Sports Centers
69	Rodeway Inn	1	91	1.1%	$2,160,202	Hotels (except Casino Hotels) and Motels
70	Teriyaki Madness	1	101	1.0%	$487,293	Limited-Service Restaurants
71	The Little Gym	1	109	0.9%	$398,680	Fitness and Recreational Sports Centers
72	WaterStation	1	109	0.9%	$857,572	Vending Machine Operators
73	X-Golf	1	123	0.8%	$654,020	All Other Amusement and Recreation Industries
74	Econo Lodge	1	136	0.7%	$1,750,495	Hotels (except Casino Hotels) and Motels
75	Fastsigns	1	145	0.7%	$486,939	Sign Manufacturing
76	Biggby Coffee	1	160	0.6%	$328,665	Snack and Nonalcoholic Beverage Bars
77	Cold Stone Creamery	1	183	0.5%	$400,124	Snack and Nonalcoholic Beverage Bars
78	Best Western	1	216	0.5%	$3,295,135	Hotels (except Casino Hotels) and Motels
79	Naturals2Go	1	256	0.4%	$131,335	Vending Machine Operators
80	Ace Hardware	0	291	0.0%	$1,023,647	Hardware Stores
81	AlphaGraphics	0	48	0.0%	$565,860	Commercial Printing (except Screen and Books)
82	Amazing Lash Studio	0	42	0.0%	$437,826	Beauty Salons
83	American Deli	0	30	0.0%	$573,147	Limited-Service Restaurants
84	Americas Best Value Inn	0	61	0.0%	$1,717,080	Hotels (except Casino Hotels) and Motels
85	Ameriprise Financial	0	98	0.0%	$1,023,145	Investment Advice
86	Auntie Anne's	0	34	0.0%	$436,771	Snack and Nonalcoholic Beverage Bars
87	Aussie Pet Mobile	0	47	0.0%	$316,587	Pet Care (except Veterinary) Services
88	Baymont Inn & Suites	0	122	0.0%	$2,491,711	Hotels (except Casino Hotels) and Motels
89	Big O Tires	0	64	0.0%	$1,206,533	Tire Dealers
90	Blo Blow Dry Bar	0	32	0.0%	$268,425	Beauty Salons
91	British Swim School	0	52	0.0%	$220,117	Sports and Recreation Instruction
92	Burger King	0	41	0.0%	$961,332	Limited-Service Restaurants
93	Camp Bow Wow	0	70	0.0%	$1,087,990	Pet Care (except Veterinary) Services
94	CertaPro Painters	0	80	0.0%	$512,951	Painting and Wall Covering Contractors
95	Chevron	0	76	0.0%	$2,601,888	Gasoline Stations with Convenience Stores
96	Christian Brothers Automotive	0	63	0.0%	$560,449	General Automotive Repair
97	Club Pilates	0	88	0.0%	$397,194	Fitness and Recreational Sports Centers
98	Comfort Inn	0	149	0.0%	$3,718,493	Hotels (except Casino Hotels) and Motels
99	Comfort Keepers	0	55	0.0%	$861,938	Home Health Care Services
100	Country Inn & Suites	0	57	0.0%	$3,683,016	Hotels (except Casino Hotels) and Motels
101	Culver's	0	103	0.0%	$1,541,089	Limited-Service Restaurants
102	Dairy Queen	0	72	0.0%	$1,016,176	Limited-Service Restaurants
103	Days Inn	0	233	0.0%	$2,455,720	Hotels (except Casino Hotels) and Motels
104	European Wax Center	0	52	0.0%	$496,704	Other Personal Care Services
105	Five Star Painting	0	31	0.0%	$181,994	Painting and Wall Covering Contractors
106	Goldfish Swim School	0	38	0.0%	$1,888,924	Sports and Recreation Instruction
107	Grease Monkey	0	58	0.0%	$893,233	Automotive Oil Change and Lubrication Shops
108	Hand and Stone	0	67	0.0%	$615,857	Other Personal Care Services
109	Home Instead	0	168	0.0%	$810,740	Home Health Care Services
110	Huntington Learning Center	0	32	0.0%	$302,709	Exam Preparation and Tutoring
111	Jersey Mike's	0	248	0.0%	$510,883	Limited-Service Restaurants
112	Jets Pizza	0	47	0.0%	$451,413	Limited-Service Restaurants
113	Jimmy John's	0	150	0.0%	$769,523	Limited-Service Restaurants
114	Junk King	0	42	0.0%	$283,950	Other Waste Collection
115	Kiddie Academy	0	169	0.0%	$1,588,742	Child Day Care Services
116	La Quinta Inn & Suites	0	180	0.0%	$3,839,659	Hotels (except Casino Hotels) and Motels
117	Massage LuXe	0	34	0.0%	$531,506	Other Personal Care Services
118	Medi-Weightloss	0	35	0.0%	$264,671	Diet and Weight Reducing Centers
119	Menchie's	0	41	0.0%	$238,561	Snack and Nonalcoholic Beverage Bars
120	Merry Maids	0	31	0.0%	$445,013	Janitorial Services
121	Metal Supermarkets	0	31	0.0%	$337,165	Metal Service Centers and Other Metal Merchant Wholesalers
122	Midas	0	61	0.0%	$722,574	General Automotive Repair
123	Molly Maid	0	48	0.0%	$336,675	Janitorial Services
124	Motel 6	0	227	0.0%	$2,865,724	Hotels (except Casino Hotels) and Motels
125	Mountain Mike's Pizza	0	62	0.0%	$678,074	Limited-Service Restaurants
126	Nothing Bundt Cakes	0	159	0.0%	$619,592	Retail Bakeries
127	Once Upon A Child	0	67	0.0%	$386,582	Children's and Infants' Clothing Stores
128	Orangetheory Fitness	0	70	0.0%	$1,006,007	Fitness and Recreational Sports Centers
129	Paul Davis Restoration	0	87	0.0%	$792,721	Residential Remodelers
130	Pet Supplies Plus	0	140	0.0%	$920,769	Pet and Pet Supplies Stores
131	Plato's Closet	0	44	0.0%	$537,534	Used Merchandise Stores
132	PrimoHoagies	0	35	0.0%	$351,634	Limited-Service Restaurants
133	Primrose Schools	0	171	0.0%	$2,089,298	Child Day Care Services
134	Pure Barre	0	86	0.0%	$272,391	Fitness and Recreational Sports Centers
135	Quality Inn	0	310	0.0%	$2,832,453	Hotels (except Casino Hotels) and Motels
136	Ramada	0	42	0.0%	$2,696,350	Hotels (except Casino Hotels) and Motels
137	Red Roof Inn	0	169	0.0%	$2,713,693	Hotels (except Casino Hotels) and Motels
138	RedLine Athletics	0	39	0.0%	$354,067	Fitness and Recreational Sports Centers
139	Right at Home	0	71	0.0%	$664,473	Home Health Care Services
140	Rita's Ice-Custard-Happiness	0	80	0.0%	$385,398	Snack and Nonalcoholic Beverage Bars
141	Rosati's Pizza	0	39	0.0%	$439,946	Full-Service Restaurants
142	SYNERGY HomeCare	0	43	0.0%	$305,007	Home Health Care Services
143	School of Rock	0	74	0.0%	$427,585	Fine Arts Schools
144	Senior Helpers	0	106	0.0%	$418,660	Home Health Care Services
145	ServiceMaster	0	95	0.0%	$669,328	Janitorial Services
146	Signarama	0	52	0.0%	$478,983	Sign Manufacturing
147	Sky Zone	0	42	0.0%	$2,880,605	All Other Amusement and Recreation Industries
148	Sleep Inn	0	78	0.0%	$3,313,656	Hotels (except Casino Hotels) and Motels
149	Snap Fitness	0	40	0.0%	$197,742	Fitness and Recreational Sports Centers
150	Snap-on Tools	0	44	0.0%	$199,218	Other Direct Selling Establishments
151	Super 8	0	268	0.0%	$2,092,248	Hotels (except Casino Hotels) and Motels
152	The Goddard School	0	264	0.0%	$1,887,164	Child Day Care Services
153	The Joint Chiropractic	0	98	0.0%	$338,168	Offices of Chiropractors
154	The Lash Lounge	0	44	0.0%	$340,395	Beauty Salons
155	The Learning Experience	0	188	0.0%	$703,767	Child Day Care Services
156	Tropical Smoothie Cafe	0	256	0.0%	$494,439	Limited-Service Restaurants
157	Two Men and a Truck	0	51	0.0%	$824,708	Used Household and Office Goods Moving
158	U.S. OilRetailer Supply Agreement	0	39	0.0%	$1,410,751	Gasoline Stations with Convenience Stores
159	Uptown Cheapskate	0	74	0.0%	$543,432	Used Merchandise Stores
160	Urban Air Adventure Park	0	94	0.0%	$3,134,219	All Other Amusement and Recreation Industries
161	Wetzel's Pretzels	0	50	0.0%	$555,870	Limited-Service Restaurants
162	Wild Birds Unlimited	0	47	0.0%	$385,883	Pet and Pet Supplies Stores
163	Wingstop	0	39	0.0%	$623,897	Limited-Service Restaurants
164	Zaxby's	0	48	0.0%	$1,761,050	Limited-Service Restaurants
165	ampm (ARCO)	0	76	0.0%	$2,888,202	Gasoline Stations with Convenience Stores
166	redbox+	0	68	0.0%	$708,007	Solid Waste Collection

Source: U.S. SBA 7(a) FOIA loan data. Loans approved FY2010–FY2019, statuses as of June 30, 2026. Download this table (CSV).

Same population, ordered by share. Statuses as of June 30, 2026.

Rank	Brand	Early charge-off share (not a rate)	Early charge-offs	Loans since 2020	Industry
1	Spenga	15.2%	5	33	Fitness and Recreational Sports Centers
2	Mr. Appliance	14.1%	11	78	Appliance Repair and Maintenance
3	360 Painting	13.7%	10	73	Painting and Wall Covering Contractors
4	Glass Doctor	13.3%	6	45	Automotive Glass Replacement Shops
5	CycleBar	12.5%	5	40	Fitness and Recreational Sports Centers
6	The Grounds Guys	12.3%	20	162	Landscaping Services
7	Rainbow Restoration	11.1%	9	81	Residential Remodelers
8	The Maids	10.0%	3	30	Janitorial Services
9	Aire Serv	9.6%	8	83	Plumbing, Heating, and Air-Conditioning Contractors
10	Window Genie	9.6%	5	52	Janitorial Services
11	Apricot Lane	8.9%	4	45	Women's Clothing Stores
12	Homewatch CareGivers	8.9%	4	45	Home Health Care Services
13	Restoration 1	8.2%	5	61	Commercial and Institutional Building Construction
14	Clean Juice	7.7%	3	39	Snack and Nonalcoholic Beverage Bars
15	Deka Lash	7.5%	3	40	Beauty Salons
16	Mosquito Joe	7.2%	5	69	Exterminating and Pest Control Services
17	Dickey's Barbecue Pit	6.2%	4	64	Limited-Service Restaurants
18	TeamLogic IT	5.7%	2	35	Computer Systems Design Services
19	Health Mart	5.3%	2	38	Pharmacies and Drug Stores
20	Real Property Management	4.9%	4	81	Residential Property Managers
21	Minuteman Press	4.8%	4	84	Commercial Printing (except Screen and Books)
22	Meineke	4.3%	4	93	General Automotive Repair
23	Play It Again Sports	4.3%	3	70	Sporting Goods Stores
24	Waxing the City	4.1%	3	74	Other Personal Care Services
25	Patrice & Associates	3.8%	2	52	Employment Placement Agencies

Source: U.S. SBA 7(a) FOIA loan data. Loans approved FY2010–FY2019, statuses as of June 30, 2026. Download this table (CSV).

How to read this

Minimum loans. A rate on a handful of loans is noise: at 20 loans one default moves the rate by 5 percentage points. Ranked tables therefore require 50 resolved loans and distribution statistics require 20.
SBA-borrower skew. SBA 7(a) borrowers are typically less capitalized than all-cash buyers, so these rates can overstate risk for well-funded operators and understate nothing.
Not unit closures. A charge-off is a lending outcome recorded by a federal agency, not a count of closed stores. Some failed units never had SBA loans; some charged-off borrowers kept operating.
Cohort seasoning. Every rate uses loans approved FY2010–FY2019 that have since been paid in full or charged off. Loans approved since 2020 are shown as counts only, because most are still outstanding and a rate on them would be a floor.

Full definitions, benchmarks, name normalization, and limitations: methodology. Rate = loans charged off ÷ SBA 7(a) loans approved FY2010–FY2019 and since resolved (paid in full or charged off).

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.

Cite this page

Franchise Failure Rates (2026). Franchise SBA 7(a) early charge-offs on loans approved since FY2020: 166 brands. Derived from U.S. SBA FOIA data, loan statuses as of June 30, 2026.

https://franchisefailurerates.com/reports/early-charge-offs-since-2020/ · Data & methodology · Download this table (CSV) · Full dataset (CSV)

Author: Franchise Failure Rates · First published August 17, 2026 · Updated September 30, 2026 · Citation format

Frequently asked

Which franchise has the most SBA charge-offs on loans made since 2020?

The Grounds Guys: 20 of 162 loans approved since FY2020 have charged off so far. Mr. Appliance (11) and 360 Painting (10) follow.

Why is this not called a default rate?

Because the cohort is unresolved. Most loans approved since FY2020 are still outstanding, so the share of charge-offs can only rise as they mature. Calling it a rate would flatter every brand equally and the youngest most.

How many brands have no early charge-offs yet?

87 of the 166 brands with 30+ loans since 2020 have recorded none so far. Given how young the loans are, that is expected rather than reassuring.

How do these counts compare with the matured cohort?

The tracked brands' FY2010–FY2019 loans ended with 8.8% charged off. The since-2020 share of 1.5% will keep moving toward its final value for years.

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