SBA 504 Loan Program Helps Bring CrossFit Franchise to the First Coast
Getting franchise projects approved in today’s Small Business Administration (SBA) lending environment can present many challenges, including eligibility issues.
Borrowers need to be able to rely on experienced lenders to help them get these types of deals done as efficiently and quickly as possible.
Jody Prince and Cathy Mittelstadt were looking for a way to replace a recently closed gym that they had previously attended when the opportunity to bring a CrossFit gym franchise to the Bunnell Flagler County Florida area presented itself.
The project involved the purchase of a vacant 19,157 square-foot parcel of land and the ground-up construction of a 2,450 square-foot building. In order to gain approval for the $355,000 project and navigate the SBA’s stringent franchise requirements, the borrowers turned to Florida First Capital for its experience and success in getting these type of deals done.
Working closely with the experts at Florida First Capital, Prince and Mittelstadt were able to bring this health training franchise to the North Florida area in a timely manner.
“Being able to maneuver within the SBA’s franchise guidelines is a critical skill that we bring to the table on behalf of our borrowers and one that requires constant diligence to successfully complete these types of transactions,” said Kristen Tackett, Florida First Capital Vice President and Business Development Officer for Northeast Florida.
For more information about SBA 504 loans in Florida, South Alabama or South Georgia, contact a Florida First Capital Loan Officer or email us at firstname.lastname@example.org. Phone: 850.681.3601 or toll-free at 888.320.5504.