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May 1, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Lincoln, Business Loans > Union Bank And Trust Company Lincoln Business Loans > Fitness Together Loan | ||||
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Advice for Getting a Franchise Loan
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Shawnee, KS Entrepreneur Gets SBA Loan to Buy Fitness For Life Franchise Corp FranchiseNeed a loan to purchase a Fitness For Life Franchise Corp franchise? Union Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Shawnee, Kansas needed money to invest in a Fitness For Life Franchise Corp franchise back in 2007. Union Bank And Trust Company issued an SBA franchise loan. Here are the details on this Kansas small business loan. SBA Loan Borrower FITNESS TOGETHER SBA Loan Lender UNION BANK AND TRUST COMPANY This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 1/12/2007 Loan Approval Gross Amount $114,000 Loan Approval from the SBA Of the total $114,000 loan amount, the SBA guaranteed $57,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Fitness For Life Franchise Corp franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Good Banks for Small Business in Lincoln, Nebraska
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