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Building a thriving gym business requires more than sweat—it needs capital
One of the biggest challenges gym owners face is rising operational costs. Rent, utilities, and insurance increase year after year, even before considering equipment maintenance and upgrades. Machines break down, weights wear out, and soon enough, you’re facing a hefty bill to overhaul your facility. Managing rising costs can quickly become overwhelming.
Member retention is another struggle. While new sign-ups are exciting, keeping members coming back month after month is a different challenge. New Year’s resolutions often fizzle out, and gym fatigue sets in, leaving businesses with an unstable membership base. Cash flow fluctuates, and what starts as a packed gym in January can quickly dwindle by spring, adding more strain.
The fitness boom is here, and capital could be your key to thriving growth.
The good news is the fitness industry is booming, and there are plenty of opportunities for growth. According to industry reports:
- The fitness market (excluding home gyms) is projected to grow by 6.1% by 2030, up from its current value of $28.46 billion.
- With the rise of GLP-1 drugs, fitness businesses have new opportunities to expand.
While the fitness market offers plenty of opportunities, securing the capital to grow or improve your business is crucial. That’s where First Bank of the Lake comes in. With our expertise in SBA 7a and 504 loans, we’ve helped fitness businesses of all sizes access the funds they need to thrive.
An SBA 7a loan is ideal for working capital needs, like hiring staff, expanding marketing, or upgrading software. For larger investments—such as new equipment, facility renovations, or expansion—an SBA 504 loan provides long-term, fixed-rate financing.
First Bank of the Lake has the experience and the know-how to help you navigate the complex funding process. With over $1.1 billion in SBA loans provided, we understand the challenges fitness businesses face and are here to guide you every step of the way. Our team is ready to help you secure the financing you need to take your gym to the next level—because we know you have enough on your plate keeping your members motivated!
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The First Bank of the Lake rep and I bonded over faith, fishing and finance. They got my loan done in under 30 days in very, very trying circumstances.
Issac Reed
President, Reed’s Moving Services
If we ever need business capital, my first call would be to First Bank of the Lake. Why would I look elsewhere?
Barry Norfleet
Co-founder, Lifetime Green Coatings - Kentucky
I got my $345,000 SBA loan approved from First Bank of the Lake in 35 days!
Kasia Anderson
President, Woof Gang Bakery - Bradenton, FL
First Bank of the Lake was the best banking experience I have ever had.
Andy
Co-founder, President, Winter Park Ski Rental
The bank process was as easy it could be. The biggest thing is how transparent and reliable they were.
Tyler Green
Co-founder, President, Freelite AZ
My First Bank of the Lake rep was great – Easily the finest banker I have dealt with in my life.
Dan Billings
President, Tint World - San Antonio
Big thanks to Emil and the First Bank of the Lake team. I would recommend them to anyone else in a heartbeat and I would absolutely use them again.
Rock Katic
President, Perfect Moving
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