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April 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > World Gym Of Cape Cod Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Borrow Money to Buy a World Gym & Fitness Center FranchiseNeed a loan to buy a World Gym & Fitness Center franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. If you live near Mashpee (mashpee Center), Massachusetts and are interested in buying a World Gym & Fitness Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower WORLD GYM OF CAPE COD SBA Loan Lender BANK OF AMERICA The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 7/10/2001 Loan Approval Gross Amount $19,000 Loan Approval from the SBA Of the total $19,000 loan amount, the SBA guaranteed $9,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a World Gym & Fitness Center franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Providence, Rhode Island Browse All Business Loan Sources for Rhode Island
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