Why Choose Us?
Our business loan service for gym owners provides:
- Market leading rates
- Fast service - finance within 5 to 7 days
- Access to specialist lenders
- Expert advice - professional service
Types of Business Loans We Can Source for Gyms
Business loans for:
- Unsecured business loans
- Secured business loans
- Working capital loans
- Revolving credit facilities
- Merchant cash advances
- R&D tax credit loans
- Commercial mortgages
- Bridging loans
- Development Finance
- Refurbishment finance
- Asset finance
- Loans to buy a business
- Invoice finance
Next Steps
As a specialist property finance broker, Clifton Private Finance can provide a clear picture of the options available to you. We will assess your specific set of circumstances and arrange a finance solution tailored to your needs.
The health and fitness industry has grown substantially in recent years, which has led to an increase in gyms opening all around the UK.
It may be an expensive venture to run a gym with various outgoings such as the cost of the premises, the salaries of your personal trainers if you employ them, repairing the equipment or even purchasing new state-of-the-art gym equipment.
Forecasting every expense your gym is likely to incur is impossible. When you need funding in a short space of time, you may need business loan funding.
Traditional Lenders
When time is tight, it might not be your best option to apply for the finance you need from a traditional lender. Traditional lenders’ applications can take up to several weeks or even months to process; a delay of this kind may put your gym in further financial difficulty.
Typically, traditional lenders will not provide a business loan without:
- A number of years’ worth of tax returns
- Your business’ future forecast
- A business plan
- Profit and loss accounts
It could be inconvenient and time-wasting to locate all the documents listed above, especially if your application is rejected.
Specialist business lenders
You could approach a specialist business finance lender if you need a business loan quickly. A private lender’s application process is often faster than an application with a traditional lender. This is because private lenders do not require a long list of documents in relation to your gym; instead, private lenders often prioritise your ability to repay the loan.
Merchant cash advances for gyms
Fitness centres require extensive upkeep to operate.
You'll want to ensure your centre has the latest equipment available to provide your clients with the highest quality services.
One aspect of this is replacing outdated equipment with more modern items that could be more effective and popular with your customers.
In addition, you will need to restock your equipment and ensure that you can maintain all your items properly. It can also be costly to keep your employees around.
Maintaining your business requires a sufficient amount of funds. Here's where merchant cash advances can help:
- Getting a business cash advance gives you access to the money you need to run your business.
- You can use a merchant cash advance to pay for your business's needs.
- It is possible to repay the money using a percentage of your daily debit and credit card receipts. With a cash advance provider, you are selling the future card machine revenue you will generate to an advance provider who will give you the funds you need now.
It's easier to apply for than a traditional business loan, and it gives you money sooner.
