Borrow Money to Buy a Gold's Gym Franchise

Borrowing money to purchase a Gold's Gym franchise? Commerce Bank/harrisburg Natl has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in York, Pennsylvania needed money to invest in a Gold's Gym franchise back in 2000. Commerce Bank/harrisburg Natl issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

GOLD'S GYM
YORK, PA 17404

SBA Loan Lender

COMMERCE BANK/HARRISBURG NATL
1249 MARKET ST
LEMOYNE, PA 17043

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to American small businesses.

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

6/19/2000

Loan Approval Gross Amount

$461,000

Loan Approval from the SBA

Of the total $461,000 loan amount, the SBA guaranteed $345,750.

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 20 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

Related Links:

Gold's Gym Franchising

Obtaining Funding - Friends and Family

SBA 7A Banks in Lemoyne, Pennsylvania

Where to Get an SBA Loan Pennsylvania