Leesburg, VA Entrepreneur Gets SBA Loan to Buy Gold's Gym Franchise

Need money to purchase a Gold's Gym franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Leesburg, Virginia needed money to invest in a Gold's Gym franchise back in 2006. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Virginia small business loan.

SBA Loan Borrower

GOLD'S GYM LEESBURG
LEESBURG, VA 20176

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/17/2006

Loan Approval Gross Amount

$795,000

Loan Approval from the SBA

Of the total $795,000 loan amount, the SBA guaranteed $596,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Gold's Gym franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 28 new jobs and retain 30 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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