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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Gold Gym Loan | ||||
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Is It Possible to Borrow Money for a Franchise in Lubbock, Texas?
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Texas Entrepreneur Secures Financing to Buy Gold's Gym FranchiseNeed a loan to purchase a Gold's Gym franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Gold's Gym franchise? If so, here's a 2004 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Lubbock, Texas. SBA Loan Borrower GOLD GYM SBA Loan Lender WELLS FARGO BANK 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 12/21/2004 Loan Approval Gross Amount $877,100 Loan Approval from the SBA Of the total $877,100 loan amount, the SBA guaranteed $657,825. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Gold's Gym franchise. At the time of the loan, the company had 30 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 40 existing jobs. Next Steps for Getting an SBA Loan 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $877,100 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks for San Jose, California Loans
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