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SBA Loans
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You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 15
Thread images: 5
File: parkour-girl.png (1 MB, 800x1182) Image search: [iqdb] [SauceNao] [Google]
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I need $150,000 to lease a gym, buy equipment, and cover expenses while revenue builds up. I've managed this kind of operation before and know firsthand it's feasible.

I only have $30,000 of my own money to invest so I want to borrow the remaining $120,000. The problem is that there's a 30% down payment requirement for SBA loans.

Could I have a friend loan me $21,000 so between that and my own $30k I have $51,000 for the down payment on a $170,000 loan, then pay the friend back his full $21,000 out of the $170,000?
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It would have to a loan at interest to avoid being considered a gift, and the bank will probably ask about it.
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>>579938
This

Plus if you only have a small amount to put in prolly not a good idea.
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>>579936
Also
>1.32MB
>800x1182

Jesus fuck.
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>>579936
ya.. what the world really needs for you to do with 150k of capital is to make another gym...

fucking dipshit.
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>>579938
Thanks anon. I suppose I could structure it as a loan but you're right, it would probably look riskier to the lender.

What if someone were to just borrow the friend's money now, then season it in the account for a few months to avoid the bank's questions?
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>>579953
You could be fair to your friend and make him a silent partner, buying him out later when the business can afford it.
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>>579956
>buying him out later
The $170k loan is already a little more than I'd need. Therefore I could easily pay back the borrowed $21k immediately (plus some interest).
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>parkour
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>>579944

totes agree.

completely unnecesary. you can run outside and do pushups and squats anywhere. a gym is a pretty big waste.
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>>579944
>>579992
>totally missing point of bread

Subleasing a gym for one night a week earned me the first $20k you fucking useless NEET faggots. I've created other gyms and know how to make them turn a good profit, now it's my turn.
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>>580000
Truth to quads.
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>>580000
What kind of gym are we talking about here?

tell me about it
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>>580000
So... It seems as though you have a proven strategy which works, but you are attempting to leverage into a strategy which has unknown results.

Might you consider subleasing a gym, say, 2 nights a week for $40K and testing the waters to see if it scales well?

If real estate investing has taught me anything, its that the rental/leasing market is fairly efficient. I wouldn't expect that "owning a gym" brings more than an addition 5% to your bottom line.
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>>580018
Parkour and free running. All kinds of bars, walls and structures to jump and swing around on. Bounce floor over much of the surface.

>>580029
We're subleasing one night a week at a cheerleading gym and there aren't any other suitable places that are available to rent. The current place has the other 6 days booked solid with other things.

We also can't store our equipment at the one night a week subleased gym so the current arrangement is limiting our growth. We average over 100 paid attendees per week and they pay $5 to $10 apiece so it's not like we can't find members.

I've also helped build other parkour gyms around the country and have seen firsthand what has worked and what hasn't.
Thread replies: 15
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Thread DB ID: 26286



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