Purchase a CrossFit Gym or Franchise With This SBA Loan Option

Didier Malagies • May 3, 2022

SBA loan programs are designed to help small businesses get off the ground and grow. If you are looking to purchase a CrossFit gym or franchise, it is important that you have the right financing in place.

The SBA 7(a) for Cross-fit Gyms


Financing a CrossFit Gym is easy. The Government has SBA 7(a) programs that allow businesses to borrow up to $5 million. Lenders and borrowers can negotiate the interest rate, but it may not exceed the SBA maximum. You can get revolving credit lines up to 10 years. You can qualify in as little as 5 days.

Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan the lender may include trading assets (using 10% of current book value for the calculation), and must take available equity in the personal real estate (residential and investment) of the principals as collateral.



Another SBA option for CrossFit gyms is the SBA 504


The Government has SBA 504 programs which are designed to help gyms purchase equipment or real estate that they need in order to expand their business. This type of financing can be used by any business regardless of size or industry but there are different requirements depending on the type of property being purchased.


The applications can be tricky and you need a commercial advisor who knows what he's doing when it comes to applying for these types of loans. You also need someone who has experience working with local banks and lending institutions because not all lenders will approve every loan application that comes across their desk.



To talk to a commercial advisor, contact us today! Or start your commercial loan application.

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Need working capital for your business?

By DDA Mortgage • July 5, 2022
If you need working capital for your business, you’ve come to the right place. We can get you up to $150,000 in financing in as little as 2 weeks. And unlike traditional banks and other lenders, we are here to help you throughout the process to make sure you get funded. Our program is designed to give businesses like yours access to cash when they need it most. The best part? There is no cash flow analysis, no debt refi, no equipment requirement - just working capital. You can get 30% of your top line, gross revenue from your last tax returns. To qualify for the loan you will need: To be self-employed for 2 years. Have a 680 FICO score or higher. Have a 155 biz score or higher. Access to working capital can help your business in many ways: Working capital loans can help with covering payroll. Some businesses have cash flow problems because they have to pay their employees before they get paid. This can be a problem for startups, especially if the business owner is also an employee. Working capital loans can help you cover payroll and other expenses until you receive payment from clients. Working capital loans can help with buying inventory. The cost of inventory is one of the biggest expenses for most businesses. Working capital loans can help you buy inventory quickly and easily so that you don't have to wait for your customers to pay their bills before they can receive it. Working capital loans can help with rent and building expenses. Rent and building expenses are ongoing costs that must be paid every month regardless of whether or not there have been any sales in that month. Working capital loans help businesses pay these bills on time so that they don't fall behind. There is no obligation to start the lending processes. Just an obligation to yourself to figure out what's best for you. Find out more about how much you can borrow to help you finance your working capital! Complete the form below and one of our advisors will reach out to you. Or, give us a call at (727) 784-5555 and we will be happy to answer all of your questions.

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