SBA loan outcome check · industry · SBA data as of 30 September 2026

How have SBA loans in Formal Wear and Costume Rental turned out?

Of 241 loans approved in fiscal 2001 to 2018 (at least five years old), 74 (30.7%) were charged off by the lender, against 16.9% across all 7(a) loans approved in those same years. Formal Wear and Costume Rental appears on 241 SBA-guaranteed 7(a) loans approved from fiscal 2001 to 2018, $38.3 million in gross approvals. These are loans, not a rating.
Not financial, legal or franchise advice. This page reports what the SBA's loan file records for SBA-guaranteed loans. A charge-off rate is not a rating of a brand or an industry, it does not predict a new loan, and a franchisee's loan is not a measure of the franchisor. Read the franchise's disclosure document and talk to a lender or an adviser before you borrow.
Formal Wear and Costume RentalIndustry NAICS 532220 · 241 loans
31%of seasoned loans charged off
  1. Formal Wear and Costume Rental appears on 241 SBA-guaranteed 7(a) loans approved from fiscal 2001 to 2018, $38.3 million in gross approvals.
  2. Of 241 loans approved in fiscal 2001 to 2018 (at least five years old), 74 (30.7%) were charged off by the lender, against 16.9% across all 7(a) loans approved in those same years.
  3. A charge-off is a loan the lender wrote off. It is not a statement about the borrower, the brand or the franchisor, and it does not predict how a new loan will turn out.
0%62%Fiscal 2001: 4 of 18 loans charged off (22.2%)Fiscal 2002: 2 of 17 loans charged off (11.8%)Fiscal 2003: 6 of 31 loans charged off (19.4%)Fiscal 2004: 7 of 28 loans charged off (25.0%)Fiscal 2005: 13 of 32 loans charged off (40.6%)Fiscal 2006: 6 of 14 loans charged off (42.9%)Fiscal 2007: 16 of 26 loans charged off (61.5%)Fiscal 2008: 4 of 16 loans charged off (25.0%)20012002200320042005200620072008
share of this group's loans charged off, by approval year (years with 10+ loans)all 7(a) loans, same year

Every approval year

Approval yearLoansApprovedPaid in fullCharged offNot yet resolvedCharged-off share
FY200118$1.4 million144022.2%
FY200217$2.3 million152011.8%
FY200331$1.7 million256019.4%
FY200428$3.1 million217025.0%
FY200532$4.6 million1913040.6%
FY200614$760,80086042.9%
FY200726$4.3 million1016061.5%
FY200816$1.8 million124025.0%
FY20099$1.4 million540few loans
FY20105$454,500500few loans
FY20118$3.5 million440few loans
FY20126$2.3 million501few loans
FY20136$3.3 million510few loans
FY20144$1.1 million220few loans
FY20158$1.1 million620few loans
FY20169$4.7 million630few loans
FY20173$275,000300few loans
FY20181$121,300100few loans

US Small Business Administration, 7(a) FOIA loan data as of 30 September 2026. SBA-guaranteed 7(a) loans only, aggregated; no borrower or lender is shown. SBA open data.

Where can you go from this record?

Open it in the check to search another brand or industry. Before you borrow for a business in this industry, read the FTC consumer guide to buying a franchise, the SBA guide to buying a franchise and SBA Lender Match.

Compiled and checked by Vincent Wesley Couey (ORCID 0009-0005-6869-308X) from the SBA 7(a) FOIA loan data, as of 30 September 2026. Not an official source.

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