Franchise brand124 approvals since FY2013

SBA loans to Waxing the City 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 FY2013, 124 SBA loan approvals worth $41.9M carry the Waxing the City franchise code, 68 of them in FY2021 to FY2025.

In FY2025 there were 26, up 37% on FY2024. The average approval in the five-year window was $361K.

21 lenders made the FY2021 to FY2025 loans across 23 states; the most active were Platinum Bank (25), The Huntington National Bank (19) and Security Savings Bank (3).

Of loans approved in FY2010 to FY2021 and disbursed, SBA records 11.8% 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.

124approvals since FY2013$41.9M

68approvals, FY2021–FY2025FY2025: 26

$361Kaverage approval, FY2021–FY2025all SBA loans: $573K

21lenders, FY2021–FY202523 states

11.8%loans approved FY2010–FY2021 charged offall SBA loans: 6.0%

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	Jobs supported, as reported
FY2026*	6	$3.3M	$551K	31
FY2025	26	$11.3M	$433K	325
FY2024	19	$6.1M	$320K	159
FY2023	7	$2.1M	$303K	114
FY2022	11	$3.0M	$274K	131
FY2021	5	$2.1M	$414K	61
FY2020	6	$2.0M	$329K	67
FY2019	3	$1.1M	$363K	20
FY2018	12	$3.2M	$263K	140
FY2017	12	$3.4M	$280K	134
FY2016	8	$2.8M	$348K	113

SBA's franchise field lists the brand as "WAXING THE CITY"; "Waxing the City". Codes SBA has used for the same brand name are added together.

Charge-off cohort rate

Waxing the City franchises11.8%

All SBA 7(a) and 504 loans6.0%

Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off. A brand's rate reflects when and where its franchise owners borrowed and how much, as well as the brand.

Loans approved FY2010–FY2021	Waxing the City	All SBA loans
Approvals in these years	55	725,496
Cancelled or never disbursed	4	91,827
Disbursed loans	51	633,669
Paid in full	33	471,304
Charged off	6	37,796
Still outstanding (status exempt from disclosure)	12	124,569
Charged off, share of disbursed loans	11.8%	6.0%
Dollars charged off, share of disbursed dollars	7.2%	2.2%
Dollars charged off	$1.1M	$6.20bn

Lenders

#	Lender, FY2021–FY2025	Approvals	Dollars	Share
1	Platinum BankOakdale, MN	25	$10.9M	36.8%
2	The Huntington National BankColumbus, OH	19	$4.7M	27.9%
3	Security Savings BankCanton, SD	3	$741K	4.4%
4	Simmons BankPine Bluff, AR	2	—	2.9%
5	Manufacturers and Traders Trust CompanyBuffalo, NY	2	—	2.9%
6	Readycap Lending, LLCBerkeley Heights, NJ	2	—	2.9%
7	Prosperity BankEl Campo, TX	1	—	1.5%
8	Westside State BankWestside, IA	1	—	1.5%
9	TD Bank, National AssociationWilmington, DE	1	—	1.5%
10	Live Oak Banking CompanyWilmington, NC	1	—	1.5%
11	The National Capital Bank of WashingtonWashington, DC	1	—	1.5%
12	ACC CapitalLittle Rock, AR	1	—	1.5%
13	Washington Trust BankSpokane, WA	1	—	1.5%
14	First Merchants BankIndianapolis, IN	1	—	1.5%
15	American Bank of FreedomWellsville, MO	1	—	1.5%

States

#	State of the business, FY2021–FY2025	Approvals	Share
1	Texas	9	13.2%
2	Georgia	8	11.8%
3	Washington	5	7.4%
4	California	5	7.4%
5	Florida	4	5.9%
6	South Carolina	4	5.9%
7	Illinois	4	5.9%
8	Maryland	3	4.4%
9	Tennessee	3	4.4%
10	Iowa	3	4.4%
11	North Dakota	2	2.9%
12	Colorado	2	2.9%
13	Virginia	2	2.9%
14	Pennsylvania	2	2.9%
15	Ohio	2	2.9%

Filed under

#	Industry group	Approvals	Share
1	Personal Care ServicesNAICS 8121	65	95.6%
2	Other Personal ServicesNAICS 8129	2	2.9%
3	Business Support ServicesNAICS 5614	1	1.5%

Approval sizes

$50,000 or less25.0%17
$50,001 to $150,0001.5%1
$150,001 to $350,00016.2%11
$350,001 to $1 million57.4%39

Age of the businesses

Existing, more than 2 years old7.4%5
New business, 2 years or less10.3%7
Startup, loan funds will open the business77.9%53
Change of ownership4.4%3

Questions and answers

How many SBA loans go to Waxing the City franchises?

124 approvals since FY2013, worth $41.9M; 68 in FY2021 to FY2025.

Which lenders make SBA loans for Waxing the City franchises?

By approvals in FY2021 to FY2025: Platinum Bank (25), The Huntington National Bank (19), Security Savings Bank (3), Simmons Bank (2), Manufacturers and Traders Trust Company (2).

How large is a typical SBA loan for a Waxing the City franchise?

The average approval in FY2021 to FY2025 was $361K.

What share of Waxing the City SBA loans are charged off?

Of 51 disbursed loans approved in FY2010 to FY2021, 6 (11.8%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.

Are SBA loans to Waxing the City franchises rising?

Approvals in the three latest complete fiscal years total 52, against 22 in the three before: rising (+136%).

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