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November 14, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > West Springfield, Business Loans > Newalliance Bank West Springfield Business Loans > Camel Fitness Bloomfield Inc Loan | ||||
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Raising Money in Bloomfield, Connecticut With SBA Loans
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Bloomfield, CT Entrepreneur Gets SBA Loan to Buy Gold's Gym FranchiseBorrowing money to purchase a Gold's Gym franchise? Newalliance Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Bloomfield, Connecticut needed money to invest in a Gold's Gym franchise back in 2006. Newalliance Bank issued an SBA franchise loan. Here are the details on this Connecticut small business loan. SBA Loan Borrower CAMEL FITNESS BLOOMFIELD INC SBA Loan Lender NEWALLIANCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 9/14/2006 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. 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 24 employees. The SBA loan application for the borrower indicated that the loan would help retain 24 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in West Springfield, Massachusetts Find an SBA Lender in Massachusetts
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