Santa Maria, CA Entrepreneur Gets SBA Loan to Buy Gold's Gym Franchise

Borrowing money to invest in a Gold's Gym franchise? Santa Lucia Bank has a history of making these loans and they are guaranteed by the SBA.

Gold's Gym franchise loans are available to Santa Maria, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Santa Lucia Bank, based in Atascadero, California, issued an SBA franchise loan for a Gold's Gym franchise in 2007. We've got all the details on this California small business loan.

SBA Loan Borrower

GOLD'S GYM
SANTA MARIA, CA 93456

SBA Loan Lender

SANTA LUCIA BANK
7480 EL CAMINO REAL
ATASCADERO, CA 93422

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/18/2007

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

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 42 employees. The SBA loan documents indicated that the loan would help retain 42 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Advice on Getting a Small Business Loan

Small Bank Loans in Atascadero, California

California SBA 7A Lenders