Emigsville, PA Entrepreneur Gets SBA Loan to Buy Gold's Gym Franchise

Need money to invest in a Gold's Gym franchise? Commerce Bank/harrisburg Natl has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Gold's Gym franchise requires some effort but others before you have been successful. In 2001, Commerce Bank/harrisburg Natl issued an SBA franchise loan to an entrepreneur in Emigsville, Pennsylvania. Because Gold's Gym was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

K K FIT ALLENTOWN INC
EMIGSVILLE, PA 17318

SBA Loan Lender

COMMERCE BANK/HARRISBURG NATL
1249 MARKET ST
LEMOYNE, PA 17043

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

12/10/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $122,325.

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 100 employees. The SBA loan documents indicated that the loan would help retain 100 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $250,000. How would you spend $250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Gold's Gym Franchising

Realistic Debt Financing Options

Who Lends Money to Small Businesses in Lemoyne, Pennsylvania

Pennsylvania SBA Banks