How much do lenders finance for a Sonic franchise?

The median SBA loan approved for a Sonic franchise is $815,000, with the middle 80% of loans between $216,900 and $2,078,000. That is the financed portion only - it excludes the buyer's equity injection, which SBA lenders typically require at 10% or more of total project cost for a business acquisition or new franchise unit.

Which lenders finance Sonic franchises?

By dollars approved, the most active SBA lenders for Sonic have been Live Oak Banking Company, PNC Bank, TD Bank, Simmons Bank. Many franchise brands also maintain their own lists of preferred lenders, which may differ from who has historically approved the most volume.

How long are Sonic SBA loans?

The median term is 20 yr. SBA 7(a) terms run up to 10 years for working capital and equipment, and up to 25 years when the loan is secured by real estate - so a longer median usually means the loans included property.

Do Sonic SBA loans get charged off often?

3.2% of Sonic loans approved between FY2010 and FY2019 that have reached a terminal status were charged off, against 7.6% across all SBA lending. Franchise-level charge-off rates reflect the era a brand expanded in as much as the concept itself - brands that grew hardest into the 2010s carry more seasoned, and more resolved, loans.

Franchise financing

Financing a Sonic franchise

SBA lenders have approved 105 loans against the Sonic brand since FY2010, totalling $115.8M. The median approval was $815,000. These are loans that actually closed - not projections from a disclosure document.

Rank by loan count

#189

of 1,651 brands

Loans approved

105

FY2010 onward

Median loan

$815,000

Typical range

$217K-$2.1M

Middle 80% of loans

Median term

20 yr

Charge-off rate

3.2%

63 resolved FY10-19 loans

Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.

Lenders

Who financed Sonic

Lender	Loans	Approved
Live Oak Banking Company	9	$20.2M
PNC Bank	5	$9.2M
TD Bank	2	$5.9M
Simmons Bank	6	$5.5M
Business Expansion Funding Corporation	2	$4.2M
Michigan Certified Development Corporation	6	$3.5M
Chesapeake Business Finance Corporation	3	$3.3M
Bank of Hope	1	$3.1M

Geography

Where Sonic units were financed

State	Loans	Share
California	10
Ohio	8
Texas	8
Maryland	7
Michigan	6
Pennsylvania	5
Georgia	5
Rhode Island	5

Approvals by fiscal year

’10

’11

’12

’13

’14

’16

’17

’18

’19

’20

’21

’22

’23

’24

’25

’26

Loan count by fiscal year - a rough proxy for how fast the brand was opening units. Final bar is a partial year.

Loan sizes

$50K - $150K
3%
$150K - $350K
10%
$350K - $1M
47%
$1M - $2M
28%
Over $2M
12%

Financing a Sonic: common questions

How much do lenders finance for a Sonic franchise?: The median SBA loan approved for a Sonic franchise is $815,000, with the middle 80% of loans between $216,900 and $2,078,000. That is the financed portion only - it excludes the buyer's equity injection, which SBA lenders typically require at 10% or more of total project cost for a business acquisition or new franchise unit.
Which lenders finance Sonic franchises?: By dollars approved, the most active SBA lenders for Sonic have been Live Oak Banking Company, PNC Bank, TD Bank, Simmons Bank. Many franchise brands also maintain their own lists of preferred lenders, which may differ from who has historically approved the most volume.
How long are Sonic SBA loans?: The median term is 20 yr. SBA 7(a) terms run up to 10 years for working capital and equipment, and up to 25 years when the loan is secured by real estate - so a longer median usually means the loans included property.
Do Sonic SBA loans get charged off often?: 3.2% of Sonic loans approved between FY2010 and FY2019 that have reached a terminal status were charged off, against 7.6% across all SBA lending. Franchise-level charge-off rates reflect the era a brand expanded in as much as the concept itself - brands that grew hardest into the 2010s carry more seasoned, and more resolved, loans.

Compare other brands

Median loan size and charge-off rate across every franchise in the SBA record.

How SBA 7(a) works

The programme most franchise buyers use, explained end to end.

Buying a franchise with an SBA loan

Equity injection, the franchise directory, and what lenders check.

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