How much do lenders finance for a Subway franchise?

The median SBA loan approved for a Subway franchise is $189,500, with the middle 80% of loans between $50,000 and $527,000. That is the financed portion only - it excludes the buyer's equity injection. SBA lenders typically want that injection at 10% or more of total project cost for a business acquisition or new franchise unit.

Which lenders finance Subway franchises?

By dollars approved, the most active SBA lenders for Subway have been The Huntington National Bank, Stearns Bank, Celtic Bank Corporation, Peoples Bank. Many franchise brands also maintain their own preferred-lender lists, and those may differ from who has historically approved the most volume.

How long are Subway SBA loans?

The median term is 10 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 Subway SBA loans get charged off often?

7.3% of Subway 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.

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Franchise financing

Financing a Subway franchise

SBA lenders have approved 1,995 loans against the Subway brand since FY2010, totalling $546.8M. The median approval was $189,500, counted from loans lenders approved rather than projections in a disclosure document.

Rank by loan count

of 1,651 brands

Loans approved

1,995

FY2010 onward

Median loan

$189,500

Typical range

$50K-$527K

Middle 80% of loans

Median term

10 yr

Charge-off rate

7.3%

1,259 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 Subway

Lender	Loans	Approved
The Huntington National Bank	167	$28.1M
Stearns Bank	75	$16.2M
Celtic Bank Corporation	27	$12.7M
Peoples Bank	19	$12.1M
PNC Bank	59	$11.1M
German American Bank	28	$10.8M
U.S. Bank	43	$10.6M
JPMorgan Chase Bank	63	$10.5M

Geography

Where Subway units were financed

State	Loans	Share
California	198
Ohio	172
Illinois	118
New York	117
Indiana	100
Texas	99
Washington	99
Pennsylvania	92

The industry codes most often recorded on Subway loans: Limited-Service Restaurants (722513), Limited-Service Restaurants (722211), Full-Service Restaurants (722511). Each industry page lists the lenders and other brands in the same line of business.

Approvals by fiscal year

’10

’12

’14

’16

’18

’20

’22

’24

’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

Under $50K
10%
$50K - $150K
26%
$150K - $350K
43%
$350K - $1M
18%
$1M - $2M
2%
Over $2M
1%

Financing a franchise unit

Guidant Financial

Funds business and franchise buyers through 401(k) rollovers (ROBS), SBA loans, and portfolio lending, often combining them in one structure. Rollover structures are common among franchise buyers because they can supply the equity injection an SBA loan requires without taking on a second loan to do it.

Check options with Guidant Financial

Approved referral partner. We may be paid when a reader we refer starts an application. It changes nothing about the figures on this page. Those come from the SBA’s federal file.

An SBA 7(a) lender

An SBA 7(a) lender and marketplace for loans up to $500,000, plus bank term loans and custom financing. You apply on their site - we do not take applications and never see your information.

Check options with SmartBiz

We may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.

Financing a Subway: common questions

How much do lenders finance for a Subway franchise?: The median SBA loan approved for a Subway franchise is $189,500, with the middle 80% of loans between $50,000 and $527,000. That is the financed portion only - it excludes the buyer's equity injection. SBA lenders typically want that injection at 10% or more of total project cost for a business acquisition or new franchise unit.
Which lenders finance Subway franchises?: By dollars approved, the most active SBA lenders for Subway have been The Huntington National Bank, Stearns Bank, Celtic Bank Corporation, Peoples Bank. Many franchise brands also maintain their own preferred-lender lists, and those may differ from who has historically approved the most volume.
How long are Subway SBA loans?: The median term is 10 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 Subway SBA loans get charged off often?: 7.3% of Subway 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.

SBA lenders for franchises

Lenders ranked by franchise loans made, with the brands each one financed.

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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