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Iron Physique Gym LLC

Rochester, MN · Fitness and Recreational Sports Centers · NAICS 713940

Iron Physique Gym LLC is a fitness and recreational sports center in Rochester, Minnesota, classified under NAICS 713940. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $515,000 approved on March 31, 2026, through lender Readycap Lending, LLC.

SBA 7(a) loan, change of ownership, approved Mar 31, 2026

$515,000 approvedLender: Readycap Lending, LLC10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$515,000
SBA-guaranteed amount
$386,250 (75% of the approval)
Lender
Readycap Lending, LLC, Berkeley Heights, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
10 years (120 months)
Estimated maturity
March 31, 2036 (estimated, approval date plus term)
Estimated monthly payment
$6,594 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 22, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
713940, Fitness and Recreational Sports Centers
Project location
Olmsted County, MN
SBA district office
Minnesota District Office
Congressional district
MN-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 9% of acquisition loans in Fitness and Recreational Sports Centers on this site.
  • Average acquisition loan in Fitness and Recreational Sports Centers: $1,274,850.
  • Average acquisition loan in Minnesota: $1,482,119.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Minnesota