Borrow Money to Buy a Gold's Gym Franchise

Need money to invest in a Gold's Gym franchise? First 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 2002 SBA franchise loan that you should know about. First Bank was the lender and the entrepreneur was based in Murfreesboro, Tennessee.

SBA Loan Borrower

GOLD'S GYM OF MURFREESBORO
MURFREESBORO, TN 37130

SBA Loan Lender

FIRST BANK
615 MEMORIAL BLVD
MURFREESBORO, TN 37219

This lender issued this loan under the SBA's 7A loan, 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.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/26/2002

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $250,000 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:

Gold's Gym Franchising

Borrowing Money from Friends and Family

Small Bank Loans in Murfreesboro, Tennessee

SBA Tennessee Lenders