Buying a Jersey Mike's Subs franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 14 7(a) loans to buy an existing Jersey Mike's Subs (classified mostly as Limited-Service Restaurants), totaling $10.6M. The median loan was $351,400, 46% lower than the $645,250 median for all SBA-financed acquisitions. 6 of these loans were approved in the last two fiscal years.
The purchase agreement decides what you bought, not the loan approval.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Jersey Mike's Subs resale loans landed between $267,750 and $672,750.
- Lender experience exists. Live Oak Banking Company alone has financed 3 Jersey Mike's Subs resales.
- Guaranty. The SBA guaranteed 77% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Jersey Mike's Subs resale
The median SBA 7(a) loan for a Jersey Mike's Subs resale was $351,400 across 14 loans (FY2018 to FY2026). Live Oak Banking Company, The Huntington National Bank and Frandsen Bank and Trust have financed the most Jersey Mike's Subs resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Jersey Mike's Subs acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $250K | $250,000 | |
| FY2020 | 1 | $276K | $276,000 | |
| FY2021 | 5 | $1.8M | $346,900 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $353K | $352,800 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $4.4M | $1,415,900 | |
| FY2026 | 3 | $3.6M | $350,000 |
How often do these acquisition loans fail?
Fewer than 20 Jersey Mike's Subs acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Lenders financing Jersey Mike's Subs resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 3 | 21.4% | $4.1M | |
| 2 | The Huntington National Bank | 2 | 14.3% | $2.5M | |
| 3 | Frandsen Bank and Trust | 2 | 14.3% | $1.8M | |
| 4 | The Central Trust Bank | 2 | 14.3% | $372K | |
| 5 | United Community Bank | 1 | 7.1% | $615K | |
| 6 | Ameris Bank | 1 | 7.1% | $421K | |
| 7 | Midwest Regional Bank | 1 | 7.1% | $276K | |
| 8 | Centennial Bank | 1 | 7.1% | $265K | |
| 9 | Stearns Bank National Association | 1 | 7.1% | $250K |
States where Jersey Mike's Subs units are bought
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Questions buyers ask
How much do buyers borrow to buy a Jersey Mike's Subs franchise?
The median SBA 7(a) loan for a Jersey Mike's Subs resale was $351,400 across 14 loans (FY2018 to FY2026). The middle half of loans ran from $267,750 to $672,750. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Jersey Mike's Subs acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Jersey Mike's Subs (3, 21% of the total). The Huntington National Bank, Frandsen Bank and Trust, The Central Trust Bank follow.
What interest rate and term do Jersey Mike's Subs acquisition loans carry?
The average initial rate at approval was 7.66% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Jersey Mike's Subs resale riskier than other SBA-financed acquisitions?
Too few Jersey Mike's Subs acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Jersey Mike's Subs units being bought with SBA loans?
New York (3), Missouri (3), Florida (2), Wisconsin (1), Illinois (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Limited-Service Restaurants acquisitions
- New York acquisitions
- Missouri acquisitions
- Florida acquisitions
- Live Oak Banking Company
- The Huntington National Bank
- Frandsen Bank and Trust
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Jersey Mike’s Subs; Jersey Mike’s" (franchise code S0901). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.