First Place Bank Provides SBA Loan to Buy Anytime Fitness Franchise

Borrowing money to purchase an Anytime Fitness franchise? First Place Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Fraser, Michigan and are interested in buying an Anytime Fitness franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by First Place Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ANYTIME FITNESS OF METRO DETRO
FRASER, MI 48021

SBA Loan Lender

FIRST PLACE BANK
185 E MARKET ST
WARREN, OH 44481

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

11/16/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 2 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

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

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:

Anytime Fitness

Borrowing Money from Friends and Family

Small Business Banks in Warren, Ohio

Getting an SBA Loan in Ohio