Fitness and Recreational Sports Centers acquisitions in Florida: SBA loan data
Since FY2018, SBA lenders have approved 33 7(a) loans to buy an existing business classified as Fitness and Recreational Sports Centers in Florida, totaling $19.7M. The median loan was $280,000. That is 0.9% of the 3,624 acquisition loans in Florida.
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How this compares
The median Fitness and Recreational Sports Centers loan in Florida is 63% lower than the $751,700 median for all Florida acquisitions, and 6% lower than the $298,450 median for Fitness and Recreational Sports Centers acquisitions nationwide (646 loans).
On losses, 15.0% of seasoned Fitness and Recreational Sports Centers loans in Florida were charged off, 162% higher than the 5.7% rate for all Florida acquisitions, and 53% higher than the 9.8% rate for the industry nationally.
Fitness and Recreational Sports Centers acquisition loans in Florida by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $1.1M | $272,400 | |
| FY2019 | 6 | $1.7M | $214,000 | |
| FY2020 | 4 | $3.2M | $514,000 | |
| FY2021 | 5 | $3.6M | $600,000 | |
| FY2022 | 1 | $398K | $398,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $190K | $190,000 | |
| FY2025 | 5 | $5.9M | $610,000 | |
| FY2026 | 6 | $3.6M | $157,750 |
How often do these acquisition loans fail?
Of the 20 Fitness and Recreational Sports Centers in Florida acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 3 have been charged off by the SBA, a rate of 15.0% by loan count and 5.5% by dollars. 9 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Fitness and Recreational Sports Centers in Florida is 326% higher than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 7 | 21.2% | $6.3M | |
| 2 | The Huntington National Bank | 4 | 12.1% | $2M | |
| 3 | Pathward National Association | 2 | 6.1% | $3.8M | |
| 4 | TD Bank, National Association | 2 | 6.1% | $2.1M | |
| 5 | Stearns Bank National Association | 2 | 6.1% | $576K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Anytime Fitness | 10 | 30.3% | $9.5M | |
| 2 | Workout Anytime | 2 | 6.1% | $1.9M | |
| 3 | Burn Boot Camp Fitness | 2 | 6.1% | $826K | |
| 4 | 9Round | 2 | 6.1% | $312K | |
| 5 | Retrofitness | 1 | 3.0% | $2M |
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Questions buyers ask
How much do SBA loans for Fitness and Recreational Sports Centers acquisitions in Florida run?
The median SBA 7(a) loan was $280,000 across 33 loans (FY2018 to FY2026), with the middle half between $150,000 and $615,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Fitness and Recreational Sports Centers acquisitions in Florida?
Live Oak Banking Company (7), The Huntington National Bank (4), Pathward National Association (2), TD Bank, National Association (2), Stearns Bank National Association (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Fitness and Recreational Sports Centers acquisition loans fail in Florida?
15.0% of 20 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Fitness and Recreational Sports Centers acquisitions in Florida?
19 of the 33 loans (58%) involved a franchise brand, most often Anytime Fitness (10).
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Florida acquisitions
- Financing one? How to get an SBA loan to buy a fitness center
- Fitness and Recreational Sports Centers nationally
- Fitness and Recreational Sports Centers in Texas
- Fitness and Recreational Sports Centers in Georgia
- Fitness and Recreational Sports Centers in New York
- Fitness and Recreational Sports Centers in New Jersey
- Fitness and Recreational Sports Centers in Michigan
- Fitness and Recreational Sports Centers in Virginia
- Fitness and Recreational Sports Centers in Minnesota
- Fitness and Recreational Sports Centers in Washington
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Small samples move a lot: each loan in this combination is 3% of the count. Industry is the NAICS code the lender recorded. See the methodology.