Loan to Buy Snap Fitness Franchise Issued By Frandsen Bank & Trust

Need money to buy a Snap Fitness franchise? Frandsen Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Snap Fitness franchise loans are available to Cokato, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Frandsen Bank & Trust, based in Lonsdale, Minnesota, issued an SBA franchise loan for a Snap Fitness franchise in 2006. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

P & K FITNESS
COKATO, MN 55321

SBA Loan Lender

FRANDSEN BANK & TRUST
116 W CENTRAL ST
LONSDALE, MN 55046

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

10/4/2006

Loan Approval Gross Amount

$99,800

Loan Approval from the SBA

Of the total $99,800 loan amount, the SBA guaranteed $49,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Snap Fitness franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Snap Fitness

Debt Financing

Good Banks for Small Business in Lonsdale, Minnesota

Minnesota SBA Bank Lenders