{
 "version": "v1",
 "generated": "2026-10-10",
 "data_as_of": "2026-07-31",
 "defaults_counted_to": "2026-04-30",
 "fiscal_years": [
  "FY2017",
  "FY2018",
  "FY2019",
  "FY2020",
  "FY2021",
  "FY2022",
  "FY2023",
  "FY2024",
  "FY2025",
  "FY2026"
 ],
 "all_7a": {
  "rate": [
   2.19,
   2.59,
   2.78,
   2.3,
   2.02,
   1.86,
   2.44,
   3.34,
   4.22,
   5.35
  ],
  "alive": [
   244605,
   255713,
   261091,
   257365,
   252637,
   246502,
   239064,
   242294,
   256455,
   274565
  ],
  "defaults": [
   5357,
   6619,
   7263,
   5929,
   5105,
   4583,
   5837,
   8102,
   10815,
   8530
  ],
  "pre_covid_rate": 2.53
 },
 "labels": {
  "y_axis": "Annual default rate",
  "subtitle": "Share of loans outstanding at the start of each fiscal year that defaulted during it",
  "pre_covid": "a year before COVID (FY2017-FY2019)",
  "current_year": "FY2026: annualized from October to April",
  "source": "Source: SBA 7(a) servicing data, Ink Insurance.",
  "low_confidence_footnote": "Low statistical confidence: fewer than 50 loans outstanding in some years shown.",
  "point_label": "{rate}% of {alive} loans outstanding; {defaults} defaults"
 },
 "thresholds": {
  "low_confidence_below_loans": 50
 },
 "editions": {
  "531130": {
   "series": "The Default Report",
   "number": 1,
   "title": "Self-storage",
   "url": "/default-report/01-self-storage"
  }
 },
 "counts": {
  "industries_with_series": 2094,
  "with_state_cuts": 2094,
  "with_lender_cuts": 1987
 }
}