Loan to Buy Anytime Fitness Franchise Issued By Wells Fargo Bank

Borrowing money to buy an Anytime Fitness franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in White Bear Lake, Minnesota needed money to invest in an Anytime Fitness franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

ANYTIME FITNESS (MJ NUTRITION,
WHITE BEAR LAKE, MN 55110

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/10/2005

Loan Approval Gross Amount

$88,450

Loan Approval from the SBA

Of the total $88,450 loan amount, the SBA guaranteed $75,182.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Anytime Fitness franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Anytime Fitness

Obtaining Funding - How to Decide How Much to Raise

Where to Get an SBA Loan in Minneapolis, Minnesota

Minnesota SBA Banks