Orlando, FL Entrepreneur Gets SBA Loan to Buy World Gym & Fitness Center Franchise

Need money to purchase a World Gym & Fitness Center franchise? Banco Popular De Puerto Rico has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Orlando, Florida needed money to invest in a World Gym & Fitness Center franchise back in 2001. Banco Popular De Puerto Rico issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

WORLD GYM AEROBICS AND FITNESS
ORLANDO, FL 32837

SBA Loan Lender

BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

3/13/2001

Loan Approval Gross Amount

$485,000

Loan Approval from the SBA

Of the total $485,000 loan amount, the SBA guaranteed $363,750.

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

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Popular De Puerto Rico 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.

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