Fitness Center & Gym Loans up to $725,000
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If you’re starting or expanding a fitness center or gym, you know that it can be expensive. That’s where gym loans come in – they can help you get the money you need to buy gym equipment, renovate your space, open new locations, and more. These loans come in various shapes and sizes, so it’s essential to understand your options before settling on one. In this article, you’ll discover everything you need to know about how to apply for, use, and repay gym loans.
What Are Gym Loans?
Gym loans are a type of financing fitness centers and gym owners can use them to strategically grow and expand their gym or fitness club. Loans help pay for significant expenses without cutting into a gym’s financial safety net. A variety of gym loan types are available, so you should understand your options before selecting one.

Ways to Use Gym Loans to Your Benefit
Gym loans enable businesses to bridge the gap between “a good gym” and “the best gym.” A gym owner can use the funds to upgrade their facility, hire professional trainers, and install top of the line gym equipment.
Bring on New Employees
A solid staff roster is required to provide regular equipment maintenance, hourly cleaning, flexible class scheduling, and extended operating hours. By hiring more employees, gym-quality will not suffer from short-staffing. Gym financing can help you cover overheads until membership dues and training packages cover the costs.
New or Upgraded Gym Equipment
Member satisfaction increases when the atmosphere is clean, convenient, and motivational. Part of this includes providing quality equipment for your members to use. For example, personal display monitors, Bluetooth, charging ports, and cooling fans offer a much more enjoyable experience. Working capital loans for gyms can cover the expense of acquiring modern equipment while spreading out the cost over several years.
Cover Legal Fees and Insurance Costs
Most businesses require a license and insurance to operate. In gyms, members may injure themselves on your premises despite signing liability waivers. In the long run, a suitable insurance carrier will protect your business. Gym loans can help cover fees and dues during periods of reduced cash flow.
Provide New Services or Products
Expanding class offerings, adding a juice bar, or building out a wellness spa provides new service offerings to members while simultaneously opening up extra streams of revenue for your gym. Investing in new programs requires access to working capital for funding and development. Gym loans can be used to hire specialized contractors and build out additional amenities for your members.
Sales and Marketing
A gym’s revenue is largely derived from membership fees and professional training packages. You can grow your revenue quickly by getting more customers to sign up. Marketing and sales campaigns are essential for reaching new gym members. Your gym business loan can cover the cost of hiring an advertising and outreach specialist.
Gym Member Management Software
A member management system is essential for gyms and fitness clubs. It organizes billing, contact information, personal training sessions, and member privileges. Fitness software companies cater directly to the industry. Business loans for gyms can cover initial software purchase and installation costs.
Liquid Capital and Cash Flow Requirements
Running a successful gym requires adequate amounts of liquid capital and cash. Hiring more professional trainers, expanding equipment offerings, and extending business hours require access to money. Gyms tend to operate on steady, recurring income in monthly membership dues. Gym loans can provide a financial cushion for growth activities and business expansion.
Digital Fitness Equipment and Online Security
Smart home gyms and connected fitness equipment are all the rage. By offering live classes and streamed trainings through remote gym memberships, local gyms can adapt to the digital world. In order to set up a streaming service for public use, it is necessary to protect customer data and sensitive information. You can launch your digital offerings with gym and fitness center loans.
What Gym Financing Options Are Available?
Financing options for gyms and fitness centers vary depending on individual needs.
For new gyms just getting started or borrowers with bad credit, merchant cash advances and invoice financing are alternative ways for gym business owners to access working capital quickly.
Merchant cash advances (also known as MCAs) are available in amounts up to $500,000 and can be funded to your business bank account by the next working day. Application approval is based upon your gym’s earning potential and overall business health, not your credit history.
Depending on individual financing needs, many options are available to fund gyms and fitness centers. Paying back a merchant cash advance involves daily or weekly withdrawals from your business bank account based on sales. MCA payment amounts automatically adjust to accommodate changes in business revenue.
Term loans, gym equipment financing, and SBA loans are additional funding options to consider. Funding options include term loans, gym equipment financing, and SBA loans. In order to qualify for a loan, lenders require good credit, two years of business experience, and strong financial statements.
Gym owners can take advantage of various loan programs offered by the Small Business Administration. The SBA offers loans to purchase commercial real estate, hire extra personal trainers, and cover gym franchise costs.
Equipment loans use purchased equipment as collateral and do not require additional assets. Most types of loans are repaid through fixed-rate monthly payments until the entire amount plus interest is paid back.
A business line of credit and credit card work the same way, with interest paid only on funds used. As the account balance is paid down, funds become available again. The credit lines and credit cards are renewed annually and remain open until the business owner closes the account. Credit lines have lower interest rates than credit cards and are usually a better option.
How Do Gym Loans Work?
Loans for gyms and fitness centers work just like any other type of loan. As soon as a loan application has been approved, funds are released to the fitness business as a large one-time payment. Following the cash exchange, a borrower is legally responsible for repaying the lender the total cost of the loan plus interest via fixed monthly payments.
Qualifying for Gym Loans With the Best Rates
When reviewing business financing applications, lenders look for the same criteria. You must have good financial statements, an excellent credit history, two years of experience and collateral.
What Credit Score Is Needed to Get a Gym Loan?
Most traditional lenders want to see a minimum credit score of 670 to take out a loan. An alternative method for financing for those who may not meet credit score requirements is a merchant cash advance. If your personal credit score is 500 or above, cash advances through MCA are available up to $500,000.

Where to Get Gym Business Loans
Fitness businesses can be funded with a conventional bank loan or through an online lender. Once you have decided which type of financing you need and what you may qualify for, you can begin shopping around for lenders.
Online lenders might offer more flexibility and have less strict requirements. Consider applying for a merchant cash advance if you don’t have collateral or two years of established business history.
How to Apply for the Best Gym Funding
Eligibility Requirements
To be approved by mCashAdvance™, you must meet the following requirements:
- Must be a U.S. citizen or legal resident
- Must be at least 18 years old
- Your gym or fitness club must be at least six months old
- Must have a 500+ credit score or higher
Funding Limits
Your fitness business’s financial health determines the amount of funding you can receive, but you may be eligible for up to $500,000.
Term Length
The repayment period depends on how much funding you receive and how much business you conduct.

Pros and Cons of Gym Loans
Advantages
Small business loans for a gym or fitness center generally offer better interest rates and terms than other forms of business financing for those who qualify. For the duration of the loan, payments are made monthly in fixed amounts and won’t change based on business performance.
Small business financing can give you direct access to working capital to help fuel growth and business expansion.
Disadvantages
In cases where interest rates are high or loan terms aren’t the best, the total cost of the loan will be significantly more than you initially borrowed. Interest and added fees will inevitably cut into the profitability of your business until your debt is paid up in full.
Additionally, conventional loans are tough to get. In 2021, Forbes reported only 13.6% of all small business loan applications were approved. As a result, many new business owners or established gyms with weak profit margins will not meet the stringent criteria needed for lender approval. In those instances, merchant cash advances may offer a better alternative until credit history and overall business health improve.
Other Industries We Finance
Frequently Asked Questions
Almost all loans for gyms can be used for working capital and new gym equipment purchases. Equipment loans, in particular, maybe the better option; rates tend to be lower due to the availability of gym equipment for collateral.
Small business loans generally require at least two years of business history as part of the loan application criteria. However, to open a new gym or fitness center, you may be able to take out a personal loan instead. Personal loans may have higher rates than a business loan but can give you a financial head start with careful budgeting and planning.
The minimum credit score required for most lenders is 670+. As an alternative, MCA offers merchant cash advances up to $500,000 for those with a credit score of 500 and above.

Funding Your Business Is Our Business
Gym Loans Can Help Grow Your Business
Many options are available to help you finance your gym or fitness center. Whether you’re looking to hire more trainers, introduce the latest equipment, or offer the newest technology – you can use a gym loan to take your location(s) to the next level. Contact mCashAdvance™ to apply for financing and learn more about our innovative direct lending options.
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