Lincoln, NE Entrepreneur Gets SBA Loan to Buy Fitness For Life Franchise Corp Franchise

Need a loan to purchase a Fitness For Life Franchise Corp franchise? Pinnacle Bank has a history of making these loans and they are guaranteed by the SBA.

Fitness For Life Franchise Corp franchise loans are available to Lincoln, Nebraska entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pinnacle Bank, based in Osceola, Nebraska, issued an SBA franchise loan for a Fitness For Life Franchise Corp franchise in 2001. We've got all the details on this Nebraska small business loan.

SBA Loan Borrower

ABSOLUTE FITNESS, LLC
LINCOLN, NE 68651

SBA Loan Lender

PINNACLE BANK
350 N STATE ST
OSCEOLA, NE 68651

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/8/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fitness For Life Franchise Corp franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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SBA Approved Banks in Osceola, Nebraska

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