American Bank Of Commerce Provides SBA Loan to Buy 123 Fit Franchise

Need a loan to invest in a 123 Fit franchise? American Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

123 Fit franchise loans are available to Austin, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Bank Of Commerce, based in Wolfforth, Texas, issued an SBA franchise loan for a 123 Fit franchise in 2007. We've got all the details on this Texas small business loan.

SBA Loan Borrower

123 FIT
AUSTIN, TX 78735

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

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

2/13/2007

Loan Approval Gross Amount

$138,600

Loan Approval from the SBA

Of the total $138,600 loan amount, the SBA guaranteed $117,810.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a 123 Fit franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American Bank Of Commerce and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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