Washington Entrepreneur Secures Financing to Buy Gold's Gym Franchise

Need money to buy a Gold's Gym franchise? Cathay Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Renton, Washington needed money to invest in a Gold's Gym franchise back in 2008. Cathay Bank issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

GOLD'S GYM
RENTON, WA 98055

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711211 - Sports Teams and Clubs

Loan Approval Date

1/11/2008

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 25 employees. The loan application indicated that the loan would help retain 25 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Renton WA, you ought to talk with a local Renton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Renton businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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

Determining Proper Capital Structure for a Business

SBA Participating Banks in Los Angeles, California

Getting an SBA Loan in California