Pelham Road Fitness LLC
Pelham Road Fitness LLC is a fitness and recreational sports center in Jacksonville, Alabama, and is a Workout Anytime franchise. The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $750,000 from The Huntington National Bank, approved on December 17, 2024.
SBA 7(a) loan, change of ownership, approved Dec 17, 2024
$750,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $750,000
- SBA-guaranteed amount
- $562,500 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,120 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 13, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 26
- Business type
- Corporation
- NAICS
- 713940, Fitness and Recreational Sports Centers
- Franchise
- Workout Anytime
- Project location
- Calhoun County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 35% 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 Alabama: $1,764,717.
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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