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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Abilene, Business Loans > First Finan Bank Abilene Business Loans > Gold's Gym Loan | ||||
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How to Get SBA Loans in Abilene, Texas
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Borrow Money to Buy a Gold's Gym FranchiseNeed a loan to buy a Gold's Gym franchise? First Finan Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Abilene, Texas and are interested in buying a Gold's Gym franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by First Finan Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower GOLD'S GYM SBA Loan Lender FIRST FINAN BANK This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 7/25/2007 Loan Approval Gross Amount $286,000 Loan Approval from the SBA Of the total $286,000 loan amount, the SBA guaranteed $214,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Gold's Gym franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Finan Bank and they will explain how you can get an SBA loan for your company. 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: Where to Get an SBA Loan in Abilene, Texas
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