Franchise brands › Gotcha Covered
Franchise brand50 approvals since FY2015
SBA loans to Gotcha Covered 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 50 loan approvals since FY2015 under the Gotcha Covered franchise brand, worth $6.9M; 29 of them came in FY2021 to FY2025.
In FY2025 there were 5, down 50% on FY2024. The average approval in the five-year window was $137K.
6 lenders made the FY2021 to FY2025 loans across 18 states; the most active were United Midwest Savings Bank National Association (22), The Huntington National Bank (2) and Readycap Lending, LLC (2).
These are loans to independent franchise owners, not to 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* | 4 | $650K | $163K | 0 | 14 |
| FY2025 | 5 | $691K | $138K | 0 | 15 |
| FY2024 | 10 | $1.5M | $145K | 0 | 31 |
| FY2023 | 6 | $847K | $141K | 0 | 23 |
| FY2022 | 0 | — | — | 0 | 0 |
| FY2021 | 8 | $988K | $124K | 0 | 29 |
| FY2020 | 5 | $679K | $136K | 0 | 11 |
| FY2019 | 5 | $455K | $91K | 0 | 14 |
| FY2018 | 3 | $365K | $122K | 0 | 6 |
| FY2017 | 1 | — | — | 0 | 3 |
| FY2016 | 0 | — | — | 0 | 0 |
SBA's franchise field lists the brand as "GOTCHA COVERED"; "Gotcha Covered". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Gotcha Covered | All SBA loans |
|---|---|---|
| Approvals in these years | 25 | 725,496 |
| Cancelled or never disbursed | 2 | 91,827 |
| Disbursed loans | 23 | 633,669 |
| Paid in full | 8 | 471,304 |
| Charged off | 4 | 37,796 |
| Still outstanding (status exempt from disclosure) | 11 | 124,569 |
| Charged off, share of disbursed loans | too few loans | 6.0% |
| Dollars charged off, share of disbursed dollars | too few loans | 2.2% |
| Dollars charged off | — | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | United Midwest Savings Bank National AssociationDe Graff, OH | 22 | $3.2M | 75.9% | |
| 2 | The Huntington National BankColumbus, OH | 2 | — | 6.9% | |
| 3 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 6.9% | |
| 4 | Magnifi Financial CUMelrose, MN | 1 | — | 3.4% | |
| 5 | First Bank of the LakeOsage Beach, MO | 1 | — | 3.4% | |
| 6 | MainStreet BankFairfax, VA | 1 | — | 3.4% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | Florida | 6 | 20.7% | |
| 2 | Texas | 3 | 10.3% | |
| 3 | North Carolina | 3 | 10.3% | |
| 4 | Georgia | 2 | 6.9% | |
| 5 | Pennsylvania | 2 | 6.9% | |
| 6 | Tennessee | 1 | 3.4% | |
| 7 | Missouri | 1 | 3.4% | |
| 8 | California | 1 | 3.4% | |
| 9 | Arkansas | 1 | 3.4% | |
| 10 | North Dakota | 1 | 3.4% | |
| 11 | New Mexico | 1 | 3.4% | |
| 12 | Michigan | 1 | 3.4% | |
| 13 | Wisconsin | 1 | 3.4% | |
| 14 | Indiana | 1 | 3.4% | |
| 15 | Illinois | 1 | 3.4% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Furniture and Home Furnishings RetailersNAICS 4491 | 19 | 65.5% | |
| 2 | Home Furnishings StoresNAICS 4422 | 8 | 27.6% | |
| 3 | Specialized Design ServicesNAICS 5414 | 2 | 6.9% |
Approval sizes
- $50,000 or less3.4%1
- $50,001 to $150,00093.1%27
- $150,001 to $350,0003.4%1
Age of the businesses
- Startup, loan funds will open the business100.0%29
Questions and answers
How many SBA loans go to Gotcha Covered franchises?
50 approvals since FY2015, worth $6.9M; 29 in FY2021 to FY2025.
Which lenders make SBA loans for Gotcha Covered franchises?
By approvals in FY2021 to FY2025: United Midwest Savings Bank National Association (22), The Huntington National Bank (2), Readycap Lending, LLC (2), Magnifi Financial CU (1), First Bank of the Lake (1).
How large is a typical SBA loan for a Gotcha Covered franchise?
The average approval in FY2021 to FY2025 was $137K.
What share of Gotcha Covered SBA loans are charged off?
There are fewer than 30 disbursed loans from the matured approval years, too few for a rate.
Are SBA loans to Gotcha Covered franchises rising?
Approvals in the three latest complete fiscal years total 21, against 13 in the three before: rising (+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