Minnesota Entrepreneur Secures Financing to Buy Anytime Fitness Franchise

Need money to purchase an Anytime Fitness franchise? Kleinbank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Anytime Fitness franchise shouldn't be overly burdensome. In 2004, Kleinbank issued an SBA franchise loan to an entrepreneur in Hutchinson, Minnesota. Because Anytime Fitness was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

HUTCHINSON HEALTH & FITNESS CL
HUTCHINSON, MN 55350

SBA Loan Lender

KLEINBANK
800 FAXON RD
NORWOOD YOUNG AMERICA, MN 55368

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

6/16/2004

Loan Approval Gross Amount

$66,000

Loan Approval from the SBA

Of the total $66,000 loan amount, the SBA guaranteed $49,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Anytime Fitness franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Kleinbank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Bank Credit Lines

SBA Banks in Norwood Young America, Minnesota

Getting an SBA Loan in Minnesota