Franchise brands › Orange Theory Fitness
Franchise brand465 approvals since FY2013
SBA loans to Orange Theory Fitness 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 465 loan approvals since FY2013 under the Orange Theory Fitness franchise brand, worth $262M; 47 of them came in FY2021 to FY2025.
In FY2025 there were 15. The average approval in the five-year window was $1.3M.
21 lenders made the FY2021 to FY2025 loans across 27 states; the most active were Live Oak Banking Company (15), Bank of America, National Association (4) and Readycap Lending, LLC (3).
Of loans approved in FY2010 to FY2021 and disbursed, SBA records 1.3% as charged off, below 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* | 14 | $9.2M | $660K | 0 | 235 |
| FY2025 | 15 | $13.4M | $895K | 0 | 208 |
| FY2024 | 4 | $1.8M | $452K | 0 | 20 |
| FY2023 | 5 | $4.5M | $890K | 0 | 68 |
| FY2022 | 9 | $15.0M | $1.7M | 0 | 143 |
| FY2021 | 14 | $25.3M | $1.8M | 0 | 607 |
| FY2020 | 18 | $9.6M | $533K | 0 | 290 |
| FY2019 | 30 | $18.2M | $606K | 0 | 414 |
| FY2018 | 68 | $42.5M | $625K | 0 | 1,026 |
| FY2017 | 97 | $45.7M | $471K | 0 | 1,472 |
| FY2016 | 87 | $37.5M | $431K | 0 | 1,207 |
SBA's franchise field lists the brand as "ORANGE THEORY FITNESS"; "Orange Theory Fitness". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Orange Theory Fitness | All SBA loans |
|---|---|---|
| Approvals in these years | 418 | 725,496 |
| Cancelled or never disbursed | 45 | 91,827 |
| Disbursed loans | 373 | 633,669 |
| Paid in full | 321 | 471,304 |
| Charged off | 5 | 37,796 |
| Still outstanding (status exempt from disclosure) | 47 | 124,569 |
| Charged off, share of disbursed loans | 1.3% | 6.0% |
| Dollars charged off, share of disbursed dollars | 0.7% | 2.2% |
| Dollars charged off | $1.4M | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking CompanyWilmington, NC | 15 | $31.8M | 31.9% | |
| 2 | Bank of America, National AssociationCharlotte, NC | 4 | $1.9M | 8.5% | |
| 3 | Readycap Lending, LLCBerkeley Heights, NJ | 3 | $5.0M | 6.4% | |
| 4 | Wilmington Savings Fund Society FSBWilmington, DE | 3 | $3.4M | 6.4% | |
| 5 | Northwest BankWarren, PA | 2 | — | 4.3% | |
| 6 | First Business BankMadison, WI | 2 | — | 4.3% | |
| 7 | Needham BankNeedham, MA | 2 | — | 4.3% | |
| 8 | MI BankBloomfield Township, MI | 2 | — | 4.3% | |
| 9 | BayFirst National BankSaint Petersburg, FL | 2 | — | 4.3% | |
| 10 | Pinnacle BankNashville, TN | 1 | — | 2.1% | |
| 11 | Truist BankCharlotte, NC | 1 | — | 2.1% | |
| 12 | Zions Bank, A Division ofSalt Lake City, UT | 1 | — | 2.1% | |
| 13 | Emprise BankWichita, KS | 1 | — | 2.1% | |
| 14 | Colony BankFitzgerald, GA | 1 | — | 2.1% | |
| 15 | The Bancorp Bank National AssociationSioux Falls, SD | 1 | — | 2.1% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | New Jersey | 7 | 14.9% | |
| 2 | Michigan | 4 | 8.5% | |
| 3 | Ohio | 3 | 6.4% | |
| 4 | California | 3 | 6.4% | |
| 5 | Massachusetts | 3 | 6.4% | |
| 6 | New York | 2 | 4.3% | |
| 7 | Florida | 2 | 4.3% | |
| 8 | Arizona | 2 | 4.3% | |
| 9 | Colorado | 2 | 4.3% | |
| 10 | Texas | 2 | 4.3% | |
| 11 | Washington | 1 | 2.1% | |
| 12 | Minnesota | 1 | 2.1% | |
| 13 | New Hampshire | 1 | 2.1% | |
| 14 | Tennessee | 1 | 2.1% | |
| 15 | Kentucky | 1 | 2.1% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Amusement and Recreation IndustriesNAICS 7139 | 41 | 87.2% | |
| 2 | Other Personal ServicesNAICS 8129 | 6 | 12.8% |
Approval sizes
- $50,001 to $150,00010.6%5
- $150,001 to $350,00010.6%5
- $350,001 to $1 million31.9%15
- $1 million to $2 million27.7%13
- Over $2 million19.1%9
Age of the businesses
- Existing, more than 2 years old27.7%13
- New business, 2 years or less12.8%6
- Startup, loan funds will open the business38.3%18
- Change of ownership21.3%10
Questions and answers
How many SBA loans go to Orange Theory Fitness franchises?
465 approvals since FY2013, worth $262M; 47 in FY2021 to FY2025.
Which lenders make SBA loans for Orange Theory Fitness franchises?
By approvals in FY2021 to FY2025: Live Oak Banking Company (15), Bank of America, National Association (4), Readycap Lending, LLC (3), Wilmington Savings Fund Society FSB (3), Northwest Bank (2).
How large is a typical SBA loan for a Orange Theory Fitness franchise?
The average approval in FY2021 to FY2025 was $1.3M.
What share of Orange Theory Fitness SBA loans are charged off?
Of 373 disbursed loans approved in FY2010 to FY2021, 5 (1.3%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.
Are SBA loans to Orange Theory Fitness franchises rising?
Approvals in the three latest complete fiscal years total 24, against 41 in the three before: falling (-41%).
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