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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Bremer Bank Saint Cloud Business Loans > Gold's Gym Of Blaine White Bea Loan | ||||
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Small Business Banks for St. Cloud, Minnesota Businesses
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Minnesota Entrepreneur Secures Financing to Buy Gold's Gym FranchiseNeed a loan to invest in a Gold's Gym franchise? Bremer Bank has a history of making these loans and they are guaranteed by the SBA. Gold's Gym franchise loans are available to St. Cloud, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bremer Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Gold's Gym franchise in 2004. We've got all the details on this Minnesota small business loan. SBA Loan Borrower GOLD'S GYM OF BLAINE WHITE BEA SBA Loan Lender BREMER BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 10/21/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 91 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 91 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: The Friends and Family Network SBA 7A Lenders in Saint Cloud, Minnesota
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