CJO Fitness LLC
CJO Fitness LLC is a fitness and recreational sports center located in Cary, North Carolina. The business was financed with an SBA 7(a) loan for a change of ownership of $1.65 million, approved on October 9, 2024, by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Oct 9, 2024
$1,650,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,650,000
- SBA-guaranteed amount
- $1,237,500 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $20,902 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 713940, Fitness and Recreational Sports Centers
- Project location
- Wake County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 77% of acquisition loans in Fitness and Recreational Sports Centers on this site.
- Average acquisition loan in Fitness and Recreational Sports Centers: $1,274,850.
- Average acquisition loan in North Carolina: $1,952,444.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in North Carolina
- Lowke Enterprises Inc, Charlotte
- Invictus Fitness Hickory LLC, Hickory
- True Allies, Inc., Cary
- Adventure Capitalists, Inc., Raleigh