Pennsylvania Entrepreneur Secures Financing to Buy Retro Fitness Franchise

Need money to purchase a Retro Fitness franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Retro Fitness franchise? If so, here's a 2007 SBA franchise loan that you should know about. Banco Popular North America was the lender and the entrepreneur was based in Allentown, Pennsylvania.

SBA Loan Borrower

RETRO FITNESS
ALLENTOWN, PA 18103

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/27/2007

Loan Approval Gross Amount

$576,200

Loan Approval from the SBA

Of the total $576,200 loan amount, the SBA guaranteed $432,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Retro Fitness franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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