Choice Financial Group
Headquartered in FARGO, ND. Analysis based on 235 SBA 7(a) loans approved between FY2020 and 2025-12-31, totaling $128.4M.
Total 7(a) loans
235
Total approved
$128.4M
Average loan
$547K
States funded in
6
Charge-off rate
0.00%
FY2020–FY2023 cohort
Paid-in-full rate
28.76%
Average rate
7.66%
Average term
111 mo
Top 10 industries financed
| NAICS | Industry | Loans |
|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 16 |
| 722511 | Full-Service Restaurants | 11 |
| 722513 | Limited-Service Restaurants | 10 |
| 238990 | All Other Specialty Trade Contractors | 8 |
| 323113 | Commercial Screen Printing | 7 |
| 562111 | Solid Waste Collection | 6 |
| 812112 | Beauty Salons | 6 |
| 423990 | Other Miscellaneous Durable Goods Merchant Wholesalers | 5 |
| 484110 | General Freight Trucking, Local | 5 |
| 325411 | Medicinal and Botanical Manufacturing | 4 |
Top 10 states
| State | Loans |
|---|---|
| MN | 190 |
| ND | 35 |
| AZ | 4 |
| WI | 3 |
| SD | 2 |
| CO | 1 |
Top franchise brands financed
35 franchise loans across 21 distinct brands.
| Franchise | Loans |
|---|---|
| Burn Boot Camp Fitness | 5 |
| Paul Davis Restoration | 4 |
| Jimmy John's | 3 |
| Papa Murphy's Take 'N' Bake Pi | 2 |
| Amazing Lash Studio | 2 |
| Paris Baguette | 2 |
| Servpro | 2 |
| Superior Fence and Rail | 2 |
| Hounds Town USA | 1 |
| Orange Theory Fitness | 1 |
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Data source & methodology
All figures computed from the SBA Office of Capital Access FOIA dataset (7(a) loans, FY2020–present, as of 2025-12-31). Charge-off and paid-in-full rates are calculated on the FY2020–FY2023 cohort only, so loans have had time to mature. Charge-off rank covers lenders with ≥500 mature loans.