Franchise brands › Code Ninjas
Franchise brand150 approvals since FY2018
SBA loans to Code Ninjas franchises
Approvals SBA files under the brand's franchise code. The loans are to independent franchise owners; this page describes the brand in aggregate and no franchisee.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA lists 150 loan approvals since FY2018 under the Code Ninjas franchise brand, worth $31.2M; 41 of them came in FY2021 to FY2025.
In FY2025 there were 6. The average approval in the five-year window was $236K.
21 lenders made the FY2021 to FY2025 loans across 16 states; the most active were The Huntington National Bank (10), The Bancorp Bank National Association (4) and Old National Bank (4).
Of loans approved in FY2010 to FY2021 and disbursed, SBA records 10.9% as charged off, above the 6.0% for all SBA loans from those years. The figures describe loans to independent franchise owners, not the franchisor.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Loans by fiscal year
| Fiscal year | Approvals | Dollars approved | Average approval | of which 504 | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 3 | $890K | $297K | 0 | 31 |
| FY2025 | 6 | $1.6M | $264K | 0 | 39 |
| FY2024 | 2 | — | — | 0 | 4 |
| FY2023 | 9 | $1.7M | $188K | 0 | 118 |
| FY2022 | 7 | $1.8M | $255K | 0 | 94 |
| FY2021 | 17 | $4.2M | $247K | 0 | 196 |
| FY2020 | 21 | $4.3M | $204K | 0 | 248 |
| FY2019 | 52 | $10.4M | $200K | 0 | 511 |
| FY2018 | 33 | $6.0M | $181K | 0 | 260 |
| FY2017 | 0 | — | — | 0 | 0 |
| FY2016 | 0 | — | — | 0 | 0 |
SBA's franchise field lists the brand as "Code Ninjas". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Code Ninjas | All SBA loans |
|---|---|---|
| Approvals in these years | 123 | 725,496 |
| Cancelled or never disbursed | 13 | 91,827 |
| Disbursed loans | 110 | 633,669 |
| Paid in full | 68 | 471,304 |
| Charged off | 12 | 37,796 |
| Still outstanding (status exempt from disclosure) | 30 | 124,569 |
| Charged off, share of disbursed loans | 10.9% | 6.0% |
| Dollars charged off, share of disbursed dollars | 8.2% | 2.2% |
| Dollars charged off | $1.9M | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 10 | $1.7M | 24.4% | |
| 2 | The Bancorp Bank National AssociationSioux Falls, SD | 4 | $971K | 9.8% | |
| 3 | Old National BankEvansville, IN | 4 | $566K | 9.8% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 3 | $682K | 7.3% | |
| 5 | Wells Fargo Bank National AssociationSioux Falls, SD | 3 | $649K | 7.3% | |
| 6 | United Community BankGreenville, SC | 2 | — | 4.9% | |
| 7 | US Metro BankGarden Grove, CA | 1 | — | 2.4% | |
| 8 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 2.4% | |
| 9 | Port 51 Lending LLCNew York, NY | 1 | — | 2.4% | |
| 10 | Stearns Bank National AssociationSaint Cloud, MN | 1 | — | 2.4% | |
| 11 | BayFirst National BankSaint Petersburg, FL | 1 | — | 2.4% | |
| 12 | Citizens BankElizabethton, TN | 1 | — | 2.4% | |
| 13 | First-Citizens Bank & Trust CompanyRaleigh, NC | 1 | — | 2.4% | |
| 14 | Provident BankJersey City, NJ | 1 | — | 2.4% | |
| 15 | SouthWest BankOdessa, TX | 1 | — | 2.4% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | Florida | 7 | 17.1% | |
| 2 | New Jersey | 4 | 9.8% | |
| 3 | Nevada | 4 | 9.8% | |
| 4 | Washington | 3 | 7.3% | |
| 5 | California | 3 | 7.3% | |
| 6 | Virginia | 3 | 7.3% | |
| 7 | Georgia | 3 | 7.3% | |
| 8 | Pennsylvania | 3 | 7.3% | |
| 9 | Arizona | 2 | 4.9% | |
| 10 | Colorado | 2 | 4.9% | |
| 11 | Ohio | 2 | 4.9% | |
| 12 | Louisiana | 1 | 2.4% | |
| 13 | Michigan | 1 | 2.4% | |
| 14 | Texas | 1 | 2.4% | |
| 15 | Oregon | 1 | 2.4% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Schools and InstructionNAICS 6116 | 15 | 36.6% | |
| 2 | Business Schools and Computer and Management TrainingNAICS 6114 | 11 | 26.8% | |
| 3 | Computer Systems Design and Related ServicesNAICS 5415 | 4 | 9.8% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 7.3% | |
| 5 | Individual and Family ServicesNAICS 6241 | 3 | 7.3% |
Approval sizes
- $50,000 or less14.6%6
- $50,001 to $150,0009.8%4
- $150,001 to $350,00068.3%28
- $350,001 to $1 million7.3%3
Age of the businesses
- Existing, more than 2 years old17.1%7
- New business, 2 years or less12.2%5
- Startup, loan funds will open the business68.3%28
- Change of ownership2.4%1
Questions and answers
How many SBA loans go to Code Ninjas franchises?
150 approvals since FY2018, worth $31.2M; 41 in FY2021 to FY2025.
Which lenders make SBA loans for Code Ninjas franchises?
By approvals in FY2021 to FY2025: The Huntington National Bank (10), The Bancorp Bank National Association (4), Old National Bank (4), U.S. Bank, National Association (3), Wells Fargo Bank National Association (3).
How large is a typical SBA loan for a Code Ninjas franchise?
The average approval in FY2021 to FY2025 was $236K.
What share of Code Ninjas SBA loans are charged off?
Of 110 disbursed loans approved in FY2010 to FY2021, 12 (10.9%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.
Are SBA loans to Code Ninjas franchises rising?
Approvals in the three latest complete fiscal years total 17, against 45 in the three before: falling (-62%).
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error