Loan to Buy Anytime Fitness Franchise Issued By Anchor Bank Saint Paul

Need money to invest in an Anytime Fitness franchise? Anchor Bank Saint Paul has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Cottage Grove, Minnesota needed money to invest in an Anytime Fitness franchise back in 2007. Anchor Bank Saint Paul issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

ANYTIME FITNESS
COTTAGE GROVE, MN 55016

SBA Loan Lender

ANCHOR BANK SAINT PAUL
1570 CONCORDIA AVE
SAINT PAUL, MN 55104

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

11/16/2007

Loan Approval Gross Amount

$292,000

Loan Approval from the SBA

Of the total $292,000 loan amount, the SBA guaranteed $219,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Anytime Fitness franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Anchor Bank Saint Paul 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:

Anytime Fitness

Business Line of Credit

Small Business Banks in Saint Paul, Minnesota

Minnesota SBA Banks