SBA 7(a) Fitness Center Feasibility Study in Maine

Cumberland County and very small loans

Maine gyms and fitness studios use SBA 7(a) for small loans, and the file adds some context. It holds 52 approvals from FY2017 to FY2026 worth just $9.0 million, with a median of $92,500 that lands at 0.38x of the 7(a) national figure for fitness operators. Half of Maine's loans fall between $50,000 and $203,500. The state ranks 38 by count, though the class holds 4 of 39 among Maine asset types, so fitness is a steady Maine borrower in a low-volume state. Franchises make up 13.5%. Geography is lopsided: Cumberland County has 35 loans and York has 12, leaving the rest of the state with a handful, so a Maine study usually concerns one of two markets.

A cancellation floor of nothing

The cancellation floor reads 0.00%, meaning no loan in the FY2017 to FY2024 approvals is confirmed cancelled, while counting undisbursed loans lifts the ceiling to 2.7%. That is the cell's cancellation floor. It does not prove that every closed loan performed; an early charge-off rate cannot be printed, and it is not zero. The ceiling that counts undisbursed loans is 2.7%, so the range between floor and ceiling is narrow, and both figures cover only approvals through FY2024.

Banks and years

Maine's savings banks lead the lender table, at 12 loans and $1.6 million for Bangor Savings Bank, then 10 and $1.2 million for Norway Savings Bank, then 5 and $695,900 for Maine Community Bank, each named by SBA as present holder. Approvals peaked at 9 in FY2024 with $2.3 million, against a single loan in FY2023 of $280,800.

Testing a Maine studio or gym

Any Maine fitness plan has to confront seasonality and a catchment that may be small. The study should model memberships, attrition and the mix of recurring dues versus classes or personal training, then show how many members cover rent, payroll and the loan. With loans this small, most projects are leasehold build-outs and equipment, so the study should itemize them and test a realistic opening ramp. An appraisal matters less than cash flow here, and the personal guarantor's resources and the lease term matter as much as the business plan.