{"citation":"SBA loans to Subway franchisees. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/franchises/subway/ Source: U.S. Small Business Administration, 7(a) and 504 FOIA loan-level data, as of June 30, 2026 (https://data.sba.gov/dataset/7a-504-foia).","url":"https://www.sbaexpress.loans/franchises/subway/","title":"SBA loans to Subway franchisees","data_as_of":"2026-06-30","checked":null,"sources":[{"label":"U.S. Small Business Administration, 7(a) and 504 FOIA loan-level data, as of June 30, 2026","url":"https://data.sba.gov/dataset/7a-504-foia"},{"label":"13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)","url":"https://www.ecfr.gov/current/title-13/section-120.214"},{"label":"SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)","url":"https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx"},{"label":"SOP 50 10 8.1, Sec. B, Ch. 2, Para. C.2 (Para. C begins p. 127)","url":"https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx"},{"label":"SOP 50 10 8.1, Sec. B, Ch. 1, Para. C (p. 118)","url":"https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx"},{"label":"SOP 50 10 8.1, Sec. B, Ch. 1, Para. C (p. 118); Sec. B, Ch. 2, Para. C (p. 127)","url":"https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx"},{"label":"SOP 50 10 8.1, Sec. A, Ch. 1, Para. G.5 (Para. G begins p. 30)","url":"https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx"},{"label":"SOP 50 10 8.1, App. 15, Para. A.1, Types of changes of ownership","url":"https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx"},{"label":"SBA Franchise Directory","url":"https://www.sba.gov/document/support-sba-franchise-directory"}],"data":{"brand":"Subway","kind":"franchise","sba_franchise_codes":["S1639"],"rows":[{"period":"October 2019 to June 2026","loans":323,"dollars":115874000,"median_loan":210000,"loan_p25":80500,"loan_p75":430000,"median_term_months":120,"median_spread_over_prime_points":2.25,"median_rate_at_approval_pct":null,"sba_express_share_pct":29.4,"line_of_credit_share_pct":15.5},{"period":"October 2023 to June 2026","loans":116,"dollars":42238500,"median_loan":203400,"loan_p25":94150,"loan_p75":400500,"median_term_months":120,"median_spread_over_prime_points":2.5,"median_rate_at_approval_pct":9.62,"sba_express_share_pct":19.8,"line_of_credit_share_pct":12.9}],"top_lenders":[{"lender":"The Huntington National Bank","loans":61},{"lender":"M&T Bank","loans":16},{"lender":"Merchants Bank of Indiana","loans":8},{"lender":"Stearns Bank","loans":8},{"lender":"Celtic Bank","loans":6}],"top_states":[{"state":"Ohio","loans":46},{"state":"Indiana","loans":29},{"state":"New York","loans":21},{"state":"Illinois","loans":20},{"state":"Pennsylvania","loans":19}],"loans_by_size":[{"band":"$50,000 or less","loans":65},{"band":"$50,001 to $150,000","loans":61},{"band":"$150,001 to $350,000","loans":104},{"band":"$350,001 to $500,000","loans":34},{"band":"$500,001 to $1,000,000","loans":36},{"band":"$1,000,001 to $2,000,000","loans":18},{"band":"Over $2,000,000","loans":5}],"loans_by_business_age":[{"age":"In business more than 2 years","loans":129,"share_pct":39.9},{"age":"In business 2 years or less","loans":48,"share_pct":14.9},{"age":"Startup (the loan opens the business)","loans":32,"share_pct":9.9},{"age":"Change of ownership","loans":113,"share_pct":35.0},{"age":"Not answered","loans":null,"share_pct":null}],"charge_off":{"group":"loans approved October 2019 to September 2022","through":"2026-06-30","loans_in_group":164,"charged_off_loans":6,"rate_by_count_pct":3.7,"rate_by_dollars_pct":1.2}}}