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April 25, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > The Privatebank Atlanta Business Loans > Snap Fitness Loan | ||||
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Tips for Getting a Franchise Loan
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The Privatebank Provides SBA Loan to Buy Snap Fitness FranchiseBorrowing money to buy a Snap Fitness franchise? The Privatebank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Atlanta, Georgia needed money to invest in a Snap Fitness franchise back in 2006. The Privatebank issued an SBA franchise loan. Here are the details on this Georgia small business loan. SBA Loan Borrower SNAP FITNESS SBA Loan Lender THE PRIVATEBANK This lender provides SBA bank 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 11/16/2006 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Snap Fitness franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 1 new job. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Atlanta, Georgia Where to Get an SBA Loan Georgia
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