Loan to Buy Little Gym Franchise Issued By Firstrust Savings Bank

Need money to buy a Little Gym franchise? Firstrust Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Little Gym franchise? If so, here's a 2002 SBA franchise loan that you should know about. Firstrust Savings Bank was the lender and the entrepreneur was based in Frazer, Pennsylvania.

SBA Loan Borrower

LITTLE GYM OF FRAZER
FRAZER, PA 19355

SBA Loan Lender

FIRSTRUST SAVINGS BANK
1931 COTTMAN AVE
PHILADELPHIA, PA 19111

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

8/5/2002

Loan Approval Gross Amount

$63,750

Loan Approval from the SBA

Of the total $63,750 loan amount, the SBA guaranteed $54,187.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Little Gym franchise. At the time of the loan, the company had 18 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Firstrust Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Choosing VC Firms

SBA Participating Banks in Philadelphia, Pennsylvania

Getting an SBA Loan in Pennsylvania