Fitness and Recreational Sports Centers acquisitions in Minnesota: SBA loan data
Since FY2018, SBA lenders have approved 20 7(a) loans to buy an existing business classified as Fitness and Recreational Sports Centers in Minnesota, totaling $7M. The median loan was $235,500. That is 1.1% of the 1,778 acquisition loans in Minnesota.
Seller note standby terms and third-party consents are reviewed before closing.
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How this compares
The median Fitness and Recreational Sports Centers loan in Minnesota is 48% lower than the $450,000 median for all Minnesota acquisitions, and 21% lower than the $298,450 median for Fitness and Recreational Sports Centers acquisitions nationwide (646 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 9.8% of seasoned Fitness and Recreational Sports Centers acquisition loans were charged off, and 3.2% of seasoned Minnesota acquisition loans of any type.
Fitness and Recreational Sports Centers acquisition loans in Minnesota by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.3M | $1,275,000 | |
| FY2019 | 4 | $1.7M | $425,800 | |
| FY2020 | 1 | $147K | $146,500 | |
| FY2021 | 1 | $245K | $245,000 | |
| FY2022 | 1 | $84K | $84,000 | |
| FY2023 | 4 | $1.8M | $416,100 | |
| FY2024 | 3 | $709K | $180,000 | |
| FY2025 | 3 | $241K | $65,500 | |
| FY2026 | 2 | $840K | $419,850 |
How often do these acquisition loans fail?
Fewer than 20 Fitness and Recreational Sports Centers in Minnesota acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Merchants Bank, National Association | 2 | 10.0% | $1.4M | |
| 2 | Bell Bank | 2 | 10.0% | $393K | |
| 3 | BankVista | 2 | 10.0% | $270K | |
| 4 | Old National Bank | 1 | 5.0% | $1.3M | |
| 5 | Live Oak Banking Company | 1 | 5.0% | $700K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Anytime Fitness | 4 | 20.0% | $2M | |
| 2 | Snap Fitness | 2 | 10.0% | $406K | |
| 3 | Farrell's eXtreme Bodyshaping | 1 | 5.0% | $254K | |
| 4 | Club Pilates | 1 | 5.0% | $147K | |
| 5 | Burn Boot Camp Fitness | 1 | 5.0% | $84K |
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Questions buyers ask
How much do SBA loans for Fitness and Recreational Sports Centers acquisitions in Minnesota run?
The median SBA 7(a) loan was $235,500 across 20 loans (FY2018 to FY2026), with the middle half between $120,150 and $535,625. 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 Minnesota?
Merchants Bank, National Association (2), Bell Bank (2), BankVista (2), Old National Bank (1), Live Oak Banking Company (1). 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 Minnesota?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Fitness and Recreational Sports Centers acquisitions in Minnesota?
10 of the 20 loans (50%) involved a franchise brand, most often Anytime Fitness (4).
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Related
- All Minnesota acquisitions
- 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 Washington
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Small samples move a lot: each loan in this combination is 5% of the count. Industry is the NAICS code the lender recorded. See the methodology.