Salida, CA Entrepreneur Gets SBA Loan to Buy My Gym Franchise
Need money to buy a My Gym franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Salida, California and are interested in buying a My Gym franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
MY GYM CHILDREN'S FITNESS CENT
SALIDA, CA 95368
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
9/30/2002
Loan Approval Gross Amount
$108,400
Loan Approval from the SBA
Of the total $108,400 loan amount, the SBA guaranteed $92,140.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a My Gym franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? 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.
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