Minnesota Entrepreneur Secures Financing to Buy Anytime Fitness Franchise

Borrowing money to buy an Anytime Fitness franchise? Western Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Mounds View, Minnesota and are interested in buying an Anytime Fitness franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Western Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ANYTIME FITNESS
MOUNDS VIEW, MN 55112

SBA Loan Lender

WESTERN BANK
2711 NE HWY 10
MOUNDS VIEW, MN 55112

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/14/2007

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Anytime Fitness franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the funding would help create 4 new jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Western Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Anytime Fitness

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SBA 7A Banks in Mounds View, Minnesota

Minnesota SBA 7A Lenders