Loan to Buy Planet Fitness Franchise Issued By National City Bank

Borrowing money to invest in a Planet Fitness franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Columbus, Ohio and are interested in buying a Planet Fitness franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by National City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DUO FIT LLC
COLUMBUS, OH 43214

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

4/20/2006

Loan Approval Gross Amount

$276,500

Loan Approval from the SBA

Of the total $276,500 loan amount, the SBA guaranteed $207,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Fitness franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National City 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.

Related Links:

Planet Fitness

Financing Your Business

Small Bank Loans in Cleveland, Ohio

Getting an SBA Loan in Ohio