SBA 504 Fitness Center Feasibility Study in Colorado

Colorado fitness center lending in SBA's records

In Colorado, SBA 504 approved 32 loans in the fitness center class. Across FY2017 to FY2026 in Colorado that came to $40.2 million gross. Counting fitness center loans, Colorado ranks 7 across states for fitness center under this program, and fitness center sits 6 of 39 among Colorado classes. A median of $997,500 is 1.27x of the national fitness center median under SBA 504, so Colorado runs above the norm. For fitness center in Colorado, the middle half spans $475,250 to $1.7 million, and franchise flags mark 12.5% of Colorado fitness center loans.

Who holds the fitness center loans, and where

The largest named fitness center holder in Colorado is B:Side Capital: 21 loans worth $22.5 million; behind it Preferred Lending Partners, 6 loans ($7.6 million). Holders in Colorado are those SBA currently lists. The Colorado fitness center county count starts with Larimer at 6, El Paso at 5, Jefferson at 4, Denver at 3, Arapahoe at 2.

Timing of Colorado approvals

The Colorado fitness center calendar shows 4 loans ($3.4 million) in FY2019, then in Colorado 3 in FY2020 ($2.4 million), and in Colorado 2 in FY2021 ($5.0 million), 2 in FY2023 ($1.6 million) and 3 in FY2024 ($3.8 million) against Colorado's peak of 7 in FY2026.

Fitness center cancel and charge-off floors

Because Colorado has so few fitness center approvals, the Colorado cancellation rate for fitness center is withheld, not printed. The fitness center cohort funded in Colorado is too small, so Colorado holds no stable charge-off rate for fitness center loans in Colorado funded FY2017 to FY2021; Colorado withholds the rate, and Colorado lenders should not read it as zero.

Colorado gyms under SBA 504

A gym financed under SBA 504 makes the Colorado study defend the building as well as the business: households in reach, rival gyms and studios, the format's pricing, and membership growth and churn through the year. Equipment and improvements belong against the $997,500 median, coverage must hold through an opening year with slower sign-ups, and an appraiser will want to know what other tenant could fill a large open floor plate.

Colorado gyms: reading note

No coding caveat is recorded for fitness centers, so the Colorado figures describe them directly.