Oklahoma City, OK Entrepreneur Gets SBA Loan to Buy Fitness For Life Franchise Corp Franchise

Need a loan to buy a Fitness For Life Franchise Corp franchise? Kirkpatrick Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Fitness For Life Franchise Corp franchise? If so, here's a 2000 SBA franchise loan that you should know about. Kirkpatrick Bank was the lender and the entrepreneur was based in Oklahoma City, Oklahoma.

SBA Loan Borrower

FITNESS TOGETHER
OKLAHOMA CITY, OK 73120

SBA Loan Lender

KIRKPATRICK BANK
15 E 15TH ST
EDMOND, OK 73013

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

8/28/2000

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $57,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fitness For Life Franchise Corp franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

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

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 Kirkpatrick 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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