Alpharetta, GA Entrepreneur Gets SBA Loan to Buy Gold's Gym Franchise

Need money to purchase a Gold's Gym franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Alpharetta, Georgia needed money to invest in a Gold's Gym franchise back in 2005. Wachovia Sba Lending, Inc. issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

GOLD'S GYM ALPHARETTA
ALPHARETTA, GA 30022

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$802,000

Loan Approval from the SBA

Of the total $802,000 loan amount, the SBA guaranteed $601,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gold's Gym franchise. At the time of the loan, the company had 30 employees. The loan application indicated that the loan would help retain 30 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

Related Links:

Gold's Gym Franchising

Determining Proper Capital Structure for a Business

SBA Participating Banks in Roseville, California

Getting an SBA Loan in California