Loan to Buy Snap Fitness Franchise Issued By Cit Small Business Lending Corp

Borrowing money to buy a Snap Fitness franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Snap Fitness franchise? If so, here's a 2007 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Maplewood, Minnesota.

SBA Loan Borrower

DAVE HARRIS FITNESS INC.
MAPLEWOOD, MN 55109

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

3/7/2007

Loan Approval Gross Amount

$174,000

Loan Approval from the SBA

Of the total $174,000 loan amount, the SBA guaranteed $130,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snap Fitness franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 1 new job.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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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