Powerhouse Gym Bridgeport
Powerhouse Gym Bridgeport, located in Stratford, Connecticut, operates in the fitness and recreational sports centers industry (NAICS 713940). The business financed real estate or equipment through an SBA 504 loan of $1,311,000, approved on December 21, 2023, with TowneBank as the bank partner and Community Investment Corporation as the certified development company.
SBA 504 loan, approved Dec 21, 2023
$1,311,000 SBA portionCDC: Community Investment Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,311,000
- Bank portion
- $1,600,000
- Estimated project size
- $3,234,444 (estimated)
- Estimated owner equity
- $323,444 (estimated, about 10% of the project)
- Bank lender
- TowneBank, Portsmouth, VA
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- December 21, 2048 (estimated, approval date plus term)
- First disbursement
- Apr 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 713940, Fitness and Recreational Sports Centers
- Franchise
- Powerhouse Gym
- Project location
- Greater Bridgeport County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-3
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 29% of expansion loans in Fitness and Recreational Sports Centers on this site.
- Average expansion loan in Fitness and Recreational Sports Centers: $2,194,028.
- Average expansion loan in Connecticut: $2,313,333.
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 Connecticut
- Solaris Racquet Club, Stamford