First Fidel. Bank Provides SBA Loan to Buy Little Gym Franchise

Need a loan to purchase a Little Gym franchise? First Fidel. Bank has a history of making these loans and they are guaranteed by the SBA.

Little Gym franchise loans are available to Scottsdale, Arizona entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Fidel. Bank, based in Scottsdale, Arizona, issued an SBA franchise loan for a Little Gym franchise in 2003. We've got all the details on this Arizona small business loan.

SBA Loan Borrower

THE LITTLE GYM OF SCOTTSDALE
SCOTTSDALE, AZ 85258

SBA Loan Lender

FIRST FIDEL. BANK
7401 E CAMELBACK RD
SCOTTSDALE, AZ 85251

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Little Gym franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Family and Friend Investors - Your First Financiers

Where to Get an SBA Loan in Scottsdale, Arizona

Arizona SBA 7A Lenders