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Fitness Mantra LLC

San Jose, CA · Fitness and Recreational Sports Centers · NAICS 713940

Fitness Mantra LLC is a fitness and recreational sports center located in San Jose, California, classified under NAICS code 713940. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,210,000, approved on May 7, 2024, by Plumas Bank.

SBA 7(a) loan, change of ownership, approved May 7, 2024

$1,210,000 approvedLender: Plumas Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,210,000
SBA-guaranteed amount
$907,500 (75% of the approval)
Lender
Plumas Bank, Quincy, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, fixed
Term
10 years (120 months)
Estimated maturity
May 7, 2034 (estimated, approval date plus term)
Estimated monthly payment
$15,165 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
713940, Fitness and Recreational Sports Centers
Project location
Santa Clara County, CA
SBA district office
San Francisco District Office
Congressional district
CA-18
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 62% 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 California: $1,688,228.

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 California