Bank Of America Provides SBA Loan to Buy Fitness For Life Franchise Corp Franchise

Borrowing money to buy a Fitness For Life Franchise Corp franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Kirkland, Washington needed money to invest in a Fitness For Life Franchise Corp franchise back in 2005. Bank Of America issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

MILLERTIME FITNESS TOGETHER IN
KIRKLAND, WA 98033

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/5/2005

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fitness For Life Franchise Corp franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company.

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:

Raising Venture Capital

SBA 7A Lenders in Charlotte, North Carolina

SBA Lenders in North Carolina