Alaska Entrepreneur Secures Financing to Buy My Gym Franchise

Need money to buy a My Gym franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a My Gym franchise requires some effort but others before you have been successful. In 2003, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Anchorage, Alaska. Because My Gym was registered with the SBA's registry of franchises, this Alaska small business loan was issued on an expedited basis.

SBA Loan Borrower

MY GYM CHILDRENS FITNESS CENTE
ANCHORAGE, AK 99503

SBA Loan Lender

WELLS FARGO BANK
444 S ESCONDIDO BLVD
ESCONDIDO, CA 92025

This SBA loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/12/2003

Loan Approval Gross Amount

$141,240

Loan Approval from the SBA

Of the total $141,240 loan amount, the SBA guaranteed $120,054.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a My Gym franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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.

We can help you find the best banks for small businesses in Anchorage or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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