Borrow Money to Buy a Gold's Gym Franchise

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

Want to borrow money to buy a Gold's Gym franchise? If so, here's a 2006 SBA franchise loan that you should know about. Jpmorgan Chase Bank was the lender and the entrepreneur was based in Urbana, Illinois.

SBA Loan Borrower

FITNESS HOUSE INC
URBANA, IL 61801

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/16/2006

Loan Approval Gross Amount

$802,200

Loan Approval from the SBA

Of the total $802,200 loan amount, the SBA guaranteed $601,650.

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 generate 25 new jobs and retain 25 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $802,200 loan. Remember, if it to be, it is up to me!

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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