Pennsylvania Entrepreneur Secures Financing to Buy Gold's Gym Franchise

Need a loan to buy a Gold's Gym franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

If you live near Thorndale, Pennsylvania and are interested in buying a Gold's Gym franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Business Loan Center, LLC. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GOLD'S GYM
THORNDALE, PA 19372

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

12/20/2000

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 6 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, 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.

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