Franchise brands › Massage Envy
Franchise brand393 approvals since FY2010
SBA loans to Massage Envy 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, 393 SBA loan approvals worth $201M carry the Massage Envy franchise code, 20 of them in FY2021 to FY2025.
In FY2025 there were 5. The average approval in the five-year window was $708K.
15 lenders made the FY2021 to FY2025 loans across 11 states; the most active were Readycap Lending, LLC (2), Pan American Bank & Trust (2) and Customers Bank (2).
Of loans approved in FY2010 to FY2021 and disbursed, SBA records 9.3% 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* | 0 | — | — | 0 | 0 |
| FY2025 | 5 | $5.1M | $1.0M | 0 | 110 |
| FY2024 | 3 | $1.5M | $486K | 0 | 84 |
| FY2023 | 3 | $1.6M | $520K | 0 | 120 |
| FY2022 | 3 | $3.6M | $1.2M | 0 | 167 |
| FY2021 | 6 | $2.5M | $421K | 0 | 93 |
| FY2020 | 2 | — | — | 0 | 77 |
| FY2019 | 20 | $8.7M | $436K | 0 | 648 |
| FY2018 | 41 | $23.4M | $572K | 0 | 1,314 |
| FY2017 | 62 | $38.5M | $620K | 0 | 3,078 |
| FY2016 | 42 | $23.8M | $568K | 0 | 1,739 |
SBA's franchise field lists the brand as "MASSAGE ENVY"; "Massage Envy". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Massage Envy | All SBA loans |
|---|---|---|
| Approvals in these years | 379 | 725,496 |
| Cancelled or never disbursed | 47 | 91,827 |
| Disbursed loans | 332 | 633,669 |
| Paid in full | 270 | 471,304 |
| Charged off | 31 | 37,796 |
| Still outstanding (status exempt from disclosure) | 31 | 124,569 |
| Charged off, share of disbursed loans | 9.3% | 6.0% |
| Dollars charged off, share of disbursed dollars | 6.2% | 2.2% |
| Dollars charged off | $10.8M | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 10.0% | |
| 2 | Pan American Bank & TrustMelrose Park, IL | 2 | — | 10.0% | |
| 3 | Customers BankMalvern, PA | 2 | — | 10.0% | |
| 4 | The Huntington National BankColumbus, OH | 2 | — | 10.0% | |
| 5 | Manufacturers and Traders Trust CompanyBuffalo, NY | 2 | — | 10.0% | |
| 6 | First Internet Bank of IndianaFishers, IN | 1 | — | 5.0% | |
| 7 | State Empl CUSanta Fe, NM | 1 | — | 5.0% | |
| 8 | HomeTrust BankAsheville, NC | 1 | — | 5.0% | |
| 9 | The Bancorp Bank National AssociationSioux Falls, SD | 1 | — | 5.0% | |
| 10 | Gulf Coast Bank and Trust CompanyNew Orleans, LA | 1 | — | 5.0% | |
| 11 | Beacon Bank and TrustBrookline, MA | 1 | — | 5.0% | |
| 12 | American Bank of FreedomWellsville, MO | 1 | — | 5.0% | |
| 13 | BayFirst National BankSaint Petersburg, FL | 1 | — | 5.0% | |
| 14 | Commerce BankKansas City, MO | 1 | — | 5.0% | |
| 15 | Telhio Credit Union IncColumbus, OH | 1 | — | 5.0% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | Florida | 4 | 20.0% | |
| 2 | Missouri | 3 | 15.0% | |
| 3 | Illinois | 2 | 10.0% | |
| 4 | Texas | 2 | 10.0% | |
| 5 | Tennessee | 2 | 10.0% | |
| 6 | Maryland | 2 | 10.0% | |
| 7 | Virginia | 1 | 5.0% | |
| 8 | New Mexico | 1 | 5.0% | |
| 9 | New York | 1 | 5.0% | |
| 10 | North Carolina | 1 | 5.0% | |
| 11 | Ohio | 1 | 5.0% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Personal Care ServicesNAICS 8121 | 15 | 75.0% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 4 | 20.0% | |
| 3 | Other Personal ServicesNAICS 8129 | 1 | 5.0% |
Approval sizes
- $50,000 or less10.0%2
- $50,001 to $150,00010.0%2
- $150,001 to $350,00015.0%3
- $350,001 to $1 million50.0%10
- $1 million to $2 million5.0%1
- Over $2 million10.0%2
Age of the businesses
- Existing, more than 2 years old5.0%1
- New business, 2 years or less20.0%4
- Startup, loan funds will open the business45.0%9
- Change of ownership30.0%6
Questions and answers
How many SBA loans go to Massage Envy franchises?
393 approvals since FY2010, worth $201M; 20 in FY2021 to FY2025.
Which lenders make SBA loans for Massage Envy franchises?
By approvals in FY2021 to FY2025: Readycap Lending, LLC (2), Pan American Bank & Trust (2), Customers Bank (2), The Huntington National Bank (2), Manufacturers and Traders Trust Company (2).
How large is a typical SBA loan for a Massage Envy franchise?
The average approval in FY2021 to FY2025 was $708K.
What share of Massage Envy SBA loans are charged off?
Of 332 disbursed loans approved in FY2010 to FY2021, 31 (9.3%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.
Are SBA loans to Massage Envy franchises rising?
Approvals in the three latest complete fiscal years total 11, against 11 in the three before: broadly level (0%).
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