Franchise brands › Firehouse Subs
Franchise brand617 approvals since FY2010
SBA loans to Firehouse Subs 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.
Since FY2010, 617 SBA loan approvals worth $200M carry the Firehouse Subs franchise code, 134 of them in FY2021 to FY2025.
In FY2025 there were 17, about level with FY2024. The average approval in the five-year window was $456K, and 1 of the approvals were 504 loans.
26 lenders made the FY2021 to FY2025 loans across 33 states; the most active were Live Oak Banking Company (11), The Huntington National Bank (8) and SouthState Bank, National Association (8).
Of loans approved in FY2010 to FY2021 and disbursed, SBA records 6.7% as charged off, close to 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* | 16 | $7.8M | $486K | 1 | 292 |
| FY2025 | 17 | $10.5M | $615K | 0 | 251 |
| FY2024 | 17 | $8.6M | $508K | 0 | 381 |
| FY2023 | 21 | $9.4M | $448K | 0 | 423 |
| FY2022 | 34 | $15.9M | $466K | 0 | 985 |
| FY2021 | 45 | $16.8M | $373K | 1 | 945 |
| FY2020 | 27 | $11.0M | $408K | 0 | 662 |
| FY2019 | 39 | $12.1M | $309K | 0 | 895 |
| FY2018 | 41 | $11.8M | $287K | 0 | 930 |
| FY2017 | 39 | $13.2M | $338K | 1 | 915 |
| FY2016 | 56 | $16.8M | $300K | 0 | 1,369 |
SBA's franchise field lists the brand as "FIREHOUSE SUBS"; "Firehouse Subs". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Firehouse Subs | All SBA loans |
|---|---|---|
| Approvals in these years | 512 | 725,496 |
| Cancelled or never disbursed | 37 | 91,827 |
| Disbursed loans | 475 | 633,669 |
| Paid in full | 358 | 471,304 |
| Charged off | 32 | 37,796 |
| Still outstanding (status exempt from disclosure) | 85 | 124,569 |
| Charged off, share of disbursed loans | 6.7% | 6.0% |
| Dollars charged off, share of disbursed dollars | 4.4% | 2.2% |
| Dollars charged off | $6.0M | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking CompanyWilmington, NC | 11 | $8.0M | 8.2% | |
| 2 | The Huntington National BankColumbus, OH | 8 | $4.3M | 6.0% | |
| 3 | SouthState Bank, National AssociationWinter Haven, FL | 8 | $3.0M | 6.0% | |
| 4 | Gulf Coast Bank and Trust CompanyNew Orleans, LA | 6 | $2.3M | 4.5% | |
| 5 | SouthWest BankOdessa, TX | 5 | $1.6M | 3.7% | |
| 6 | 22nd State Bank, A Division of 22nd State Banking CompanyMobile, AL | 5 | $1.6M | 3.7% | |
| 7 | KeyBank National AssociationCleveland, OH | 4 | $1.4M | 3.0% | |
| 8 | First Internet Bank of IndianaFishers, IN | 3 | $3.1M | 2.2% | |
| 9 | Happen BankLehi, UT | 3 | $1.7M | 2.2% | |
| 10 | Nicolet National BankGreen Bay, WI | 3 | $1.4M | 2.2% | |
| 11 | First National Bank of OmahaOmaha, NE | 3 | $1.3M | 2.2% | |
| 12 | 1st Source BankSouth Bend, IN | 3 | $804K | 2.2% | |
| 13 | Beacon Bank and TrustBrookline, MA | 2 | — | 1.5% | |
| 14 | United Community BankGreenville, SC | 2 | — | 1.5% | |
| 15 | Pinnacle BankNashville, TN | 2 | — | 1.5% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | Texas | 15 | 11.2% | |
| 2 | Virginia | 10 | 7.5% | |
| 3 | Georgia | 9 | 6.7% | |
| 4 | Florida | 9 | 6.7% | |
| 5 | North Carolina | 7 | 5.2% | |
| 6 | Tennessee | 7 | 5.2% | |
| 7 | Louisiana | 6 | 4.5% | |
| 8 | California | 6 | 4.5% | |
| 9 | Michigan | 6 | 4.5% | |
| 10 | Arizona | 5 | 3.7% | |
| 11 | Colorado | 5 | 3.7% | |
| 12 | Oklahoma | 5 | 3.7% | |
| 13 | Wisconsin | 4 | 3.0% | |
| 14 | Utah | 4 | 3.0% | |
| 15 | Ohio | 4 | 3.0% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 134 | 100.0% |
Approval sizes
- $50,000 or less3.7%5
- $50,001 to $150,0007.5%10
- $150,001 to $350,00033.6%45
- $350,001 to $1 million50.0%67
- $1 million to $2 million4.5%6
- Over $2 million0.7%1
Age of the businesses
- Existing, more than 2 years old16.4%22
- New business, 2 years or less20.9%28
- Startup, loan funds will open the business35.1%47
- Change of ownership27.6%37
Questions and answers
How many SBA loans go to Firehouse Subs franchises?
617 approvals since FY2010, worth $200M; 134 in FY2021 to FY2025.
Which lenders make SBA loans for Firehouse Subs franchises?
By approvals in FY2021 to FY2025: Live Oak Banking Company (11), The Huntington National Bank (8), SouthState Bank, National Association (8), Gulf Coast Bank and Trust Company (6), SouthWest Bank (5).
How large is a typical SBA loan for a Firehouse Subs franchise?
The average approval in FY2021 to FY2025 was $456K.
What share of Firehouse Subs SBA loans are charged off?
Of 475 disbursed loans approved in FY2010 to FY2021, 32 (6.7%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.
Are SBA loans to Firehouse Subs franchises rising?
Approvals in the three latest complete fiscal years total 55, against 106 in the three before: falling (-48%).
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