Loan to Buy Little Gym Franchise Issued By Valley National Bank
Need money to purchase a Little Gym franchise? Valley National 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 2007 SBA franchise loan that you should know about. Valley National Bank was the lender and the entrepreneur was based in Hackettstown, New Jersey.
SBA Loan Borrower
THE LITTLE GYM OF MANSFIELD
HACKETTSTOWN, NJ 07865
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
5/14/2007
Loan Approval Gross Amount
$275,000
Loan Approval from the SBA
Of the total $275,000 loan amount, the SBA guaranteed $206,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Little Gym franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 7 existing jobs.
Next Steps for Getting an SBA Loan
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
This SBA loan was for $275,000. How would you spend $275,000 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:
The Friends and Family Network
Small Bank Loans in North Plainfield, New Jersey
Where to Get an SBA Loan New Jersey