California Entrepreneur Secures Financing to Buy My Gym Franchise

Borrowing money to buy a My Gym franchise? Visalia Community Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Visalia, California needed money to invest in a My Gym franchise back in 2004. Visalia Community Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

MY GYM VISALIA LLC
VISALIA, CA 93291

SBA Loan Lender

VISALIA COMMUNITY BANK
120 N FLORAL ST
VISALIA, CA 93291

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

12/27/2004

Loan Approval Gross Amount

$168,000

Loan Approval from the SBA

Of the total $168,000 loan amount, the SBA guaranteed $126,000.

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 5 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Visalia Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Visalia Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

My Gym Children's Fitness Centers

Obtaining Funding - Friends and Family

Where to Get an SBA Loan in Visalia, California

California SBA 7A Lenders