Texas State Bank Provides SBA Loan to Buy World Gym & Fitness Center Franchise

Need a loan to buy a World Gym & Fitness Center franchise? Texas State Bank has a history of making these loans and they are guaranteed by the SBA.

World Gym & Fitness Center franchise loans are available to Groves, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Texas State Bank, based in Port Neches, Texas, issued an SBA franchise loan for a World Gym & Fitness Center franchise in 2001. We've got all the details on this Texas small business loan.

SBA Loan Borrower

WORLD GYM PORT ARTHUR
GROVES, TX 77619

SBA Loan Lender

TEXAS STATE BANK
2927 NALL
PORT NECHES, TX 77651

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a World Gym & Fitness Center franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

World Gym & Fitness Center

The Friends and Family Network

SBA Participating Banks in Port Neches, Texas

Getting a Business Loan in Texas