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May 6, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > My Gym Children's Fitness Cent Loan | ||||
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Raising Money in Powell, Ohio With SBA Loans
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Borrow Money to Buy a My Gym FranchiseNeed money to purchase a My Gym franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. My Gym franchise loans are available to Powell, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a My Gym franchise in 2003. We've got all the details on this Ohio small business loan. SBA Loan Borrower MY GYM CHILDREN'S FITNESS CENT SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 8/26/2003 Loan Approval Gross Amount $154,000 Loan Approval from the SBA Of the total $154,000 loan amount, the SBA guaranteed $115,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a My Gym franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the funding would help generate 6 new jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: My Gym Children's Fitness Centers Where to Get an SBA Loan in Livingston, New Jersey
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