Loan to Buy Planet Fitness Franchise Issued By Riverside National Bank - Florida

Need money to buy a Planet Fitness franchise? Riverside National Bank - Florida has a history of making these loans and they are guaranteed by the SBA.

If you live near Melbourne, Florida and are interested in buying a Planet Fitness franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Riverside National Bank - Florida. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PLANET FITNESS
MELBOURNE, FL 32955

SBA Loan Lender

RIVERSIDE NATIONAL BANK - FLORIDA
2211 OKEECHOBEE RD
FORT PIERCE, FL 34950

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

5/19/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Fitness franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help create 15 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

We can help you find the best banks for small businesses in Melbourne or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Planet Fitness

Bank Credit Lines

Where to Get an SBA Loan in Fort Pierce, Florida

SBA Florida Lenders