Newnan, GA Entrepreneur Gets SBA Loan to Buy World Gym & Fitness Center Franchise

Borrowing money to purchase a World Gym & Fitness Center franchise? First Charter Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a World Gym & Fitness Center franchise? If so, here's a 2002 SBA franchise loan that you should know about. First Charter Bank was the lender and the entrepreneur was based in Newnan, Georgia.

SBA Loan Borrower

WORLD GYM AND FITNESS CENTER
NEWNAN, GA 30265

SBA Loan Lender

FIRST CHARTER BANK
165 NASH ST
LAWRENCEVILLE, GA 30045

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/13/2002

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

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 loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

World Gym & Fitness Center

The Art of Bootstrapping

Find an SBA Lender in Lawrenceville, Georgia

Where to Get an SBA Loan Georgia