Maryland Entrepreneur Secures Financing to Buy Little Gym Franchise

Borrowing money to purchase a Little Gym franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

If you live near Clinton, Maryland and are interested in buying a Little Gym franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Community So. Bank D.B.A Commun. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

POTOMAC SPORTS & LEARNING GROU
CLINTON, MD 20735

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

10/11/2007

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Little Gym franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help create 4 new jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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.

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