SBA 7(a) Fitness Center Feasibility Study in Oklahoma

Oklahoma gyms: modest loans, a low cancellation floor and a clean cohort

Fitness centers rank fifth of 39 among Oklahoma classes in SBA 7(a) lending, even though the state is 33 on the national table. The cell recorded 91 loans worth $25.3 million across FY2017 to FY2026. The median loan is $200,400, which is 0.81x the national level, and the middle band stretches from $91,000 to $368,700. Franchise brands appear on 40.7% of loans, so the typical borrower either follows a brand's playbook or runs an independent studio.

Holders and counties

BancFirst holds 18 of these loans in SBA's data, worth $2.7 million, and Arvest Bank holds 10, also worth $2.7 million. Five loans each belong to First United Bank and Trust Company ($2.3 million), First Pryority Bank ($2.0 million) and The Huntington National Bank ($1.2 million). These are entries of record. Oklahoma County has 29 loans and Tulsa 27, with Cleveland at 13 and Canadian at 5. The yearly counts are steady, between 6 and 13 loans, and the high points were 13 loans in FY2023 and FY2025 with $3.5 million and $4.2 million.

Outcome floors

Cancellation was light: 5.9% of approvals through FY2024, and 5.9% again on the broader reading. Of 37 early funded loans, 2.7% show a charge-off to date, yet the first five years read 0.00%, so the losses surfaced after year five. With loans still open, both are floors.

A study for an Oklahoma fitness centre should open with the concept: big-box gym, boutique studio, group training or a franchise. Each has its own revenue per member and equipment cost. It should count competing clubs and studios in the trade area, test the size of the membership base needed to cover debt, and show the join pace and attrition expected in the first year. Oklahoma City, Tulsa and Norman draw different demographics from smaller towns, and the study should make the local case. Lease term against equipment life is important, as is the landlord's consent to the use. Coverage should be shown with weaker membership growth, and an appraisal will treat equipment and leasehold improvements as the main collateral. Lenders weigh the study; no approval is promised.