Loan to Buy Little Gym Franchise Issued By South Shore Savings Bank

Borrowing money to purchase a Little Gym franchise? South Shore Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Little Gym franchise loans are available to Marshfield (census Name For Ma, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, South Shore Savings Bank, based in South Weymouth, Massachusetts, issued an SBA franchise loan for a Little Gym franchise in 2005. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

THE LITTLE GYM INTERNATIONAL I
MARSHFIELD (CENSUS NAME FOR MA, MA 02359

SBA Loan Lender

SOUTH SHORE SAVINGS BANK
1530 MAIN ST
SOUTH WEYMOUTH, MA 02190

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

3/25/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Little Gym franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the funding would help create 6 new jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into South Shore Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Participating Banks in Massachusetts