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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Hartford, Business Loans > Business Lenders, LLC Hartford Business Loans > My Gym Children's Fitness Ctr Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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Greenwood Village, CO Entrepreneur Gets SBA Loan to Buy My Gym FranchiseNeed money to buy a My Gym franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA. My Gym franchise loans are available to Greenwood Village, Colorado entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Business Lenders, LLC, based in Hartford, Connecticut, issued an SBA franchise loan for a My Gym franchise in 2000. We've got all the details on this Colorado small business loan. SBA Loan Borrower MY GYM CHILDREN'S FITNESS CTR SBA Loan Lender BUSINESS LENDERS, LLC This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7299 - Personal Services Loan Approval Date 8/28/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a My Gym franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: My Gym Children's Fitness Centers Best Hartford, Connecticut Banks for Small Business SBA Participating Banks in Connecticut
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