Northeast Bank Provides SBA Loan to Buy Gold's Gym Franchise

Need money to buy a Gold's Gym franchise? Northeast Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Gold's Gym franchise shouldn't be too tough. In 2000, Northeast Bank issued an SBA franchise loan to an entrepreneur in Biddeford (rr Name Biddeford-S, Maine. Because Gold's Gym was registered with the SBA's registry of franchises, this Maine small business loan was issued on an expedited basis.

SBA Loan Borrower

GOLD'S GYM
BIDDEFORD (RR NAME BIDDEFORD-S, ME 04005

SBA Loan Lender

NORTHEAST BANK
500 CANAL ST
LEWISTON, ME 04240

This lender provides SBA commercial 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.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/9/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Gold's Gym franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Northeast Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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