Loan to Buy Fitness Together Franchise Issued By Community Banks Of Colorado

Borrowing money to buy a Fitness Together franchise? Community Banks Of Colorado has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Englewood, Colorado needed money to invest in a Fitness Together franchise back in 2007. Community Banks Of Colorado issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

FITNESS TOGETHER
ENGLEWOOD, CO 80111

SBA Loan Lender

COMMUNITY BANKS OF COLORADO
406 N MAIN ST
PUEBLO, CO 81003

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

812990 - Personal Services

Loan Approval Date

8/9/2007

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fitness Together franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Banks Of Colorado had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Banks Of Colorado made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Fitness Together Franchise

SBIR Funding

SBA 7A Lenders in Pueblo, Colorado

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