SBA 504 Fitness Center Feasibility Study in Georgia

Fitness centers in Georgia borrow under 504 at a median of $1.1 million, which is 1.46x the nationwide 504 fitness median, and half of the 32 loans fall between $544,750 and $1.9 million. The cell totals $45.2 million for FY2017 to FY2026. Georgia is seventh nationally on loans counted, and the use stands ninth of 39 among the state's classes. Franchised projects are 21.9% of loans, so roughly one in five borrowers is joining a gym brand while the rest build or buy independently. The unusual size, well above the national norm, points to purchased or purpose-built buildings rather than leased storefronts.

Three companies, one from out of state

The lender table lists Capital Partners Certified Development Company with 10 loans and $15.3 million, Florida Business Development Corporation with 8 and $9.0 million, and Small Business Access Partners, Inc. with 6 and $9.1 million. A Florida-named company in a Georgia table is notable, and the record does not explain it. Small Business Access Partners, Inc. makes fewer loans than its neighbour in the table but each is bigger. This is a register of who holds notes, with no assessment of any of them. By county, Gwinnett has 5, Fulton 4, DeKalb 3, and Hall, Henry and Muscogee 2 each.

Gaps in the years

Approvals were 3 in FY2017, 1 in FY2018, 5 in FY2019 at $7.5 million, then 2, 2 and 3. FY2023 had none. The recovery was sharp: 6 loans and $9.9 million in FY2024, 6 and $8.1 million in FY2025, and 4 and $7.1 million in FY2026. After a lull, borrowing for gyms recovered with larger projects than before.

Rates not given

Too few Georgia fitness loans exist for any cancellation or charge-off percentage to be printed. No reader should replace a blank with a zero, and a lender who wants those facts will have to look to the borrower's own record.

What a Georgia gym study has to settle

With the real estate financed, a study should value the building both as a gym and as ordinary retail or light commercial space, two values that can differ widely. It should estimate membership from households within a short drive, price points against nearby clubs, the churn of members after the first year, and the share of revenue from classes and personal training. A budget operator and a boutique studio have different economics, so the format must be named. First-year membership well below plan should be run through coverage, and the budget must carry equipment financing and replacement cycles.