South Dakota Entrepreneur Secures Financing to Buy Anytime Fitness Franchise

Need a loan to invest in an Anytime Fitness franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Anytime Fitness franchise loans are available to Rapid City, South Dakota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for an Anytime Fitness franchise in 2008. We've got all the details on this South Dakota small business loan.

SBA Loan Borrower

ANYTIME FITNESS #0945
RAPID CITY, SD 57703

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/23/2008

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 3 employees. This SBA loan request indicated that the funding would help generate 3 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $350,000 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:

Anytime Fitness

The Friends and Family Network

Small Bank Loans in Livingston, New Jersey

New Jersey SBA 7A Banks