This Hazelbank Financial article answers where a gym owner in Kearney, Nebraska can find a loan for equipment or a larger space. It covers Buffalo County, NE fitness figures, the lender types, labeled equipment and relocation examples, buying an existing gym, a checklist and owners' questions.
Where Can I Find a Loan for a Gym Business? The Direct Answer
For racks, cardio machines and flooring, look to equipment financing: the equipment secures the loan, so the request rests on the quote and the gym's revenue. For a move to a larger space, a build-out or the purchase of an existing gym, look to a term loan. For the months before new members pay, working capital.
Hazelbank Financial matches a gym's request with funding partners; the partner decides. Business loans by industry includes a note on gyms and fitness studios.
Fitness Businesses in Buffalo County, NE
County Business Patterns counted 4 fitness and recreational sports employers in Buffalo County, NE in 2023, with 163 employees and $1.9 million in payroll (County Business Patterns 2023). Nonemployer Statistics separately counted 31 businesses without paid employees in the broader other amusement and recreation group, which includes fitness studios and independent trainers, in 2024 (Nonemployer Statistics 2024).
Those two counts measure different things and are not added together.
Gym Equipment Financing Worked Out
Illustration only, invented figures: a Kearney, NE studio buys racks, rowers, bikes and rubber flooring for $62,000, puts $6,200 down and finances $55,800 over 60 months at an invented 10% annual rate, about $1,186 a month (our arithmetic).
At $55 a month per membership, that payment equals the dues of about 22 members (our arithmetic). The partner wants to see the gym already has, or can show it will add, that margin above its other costs.
A Bigger Space Worked Out
Illustration only, invented figures: moving to a larger space costs $110,000 in build-out, showers and fit-out. The owner brings $22,000 and finances $88,000 over 84 months at the same invented rate, about $1,461 a month (our arithmetic). If the new space adds an invented 40 members at $55, that is $2,200 a month in added dues before the higher rent (our arithmetic).
Check zoning for a gym use before signing the lease. The Kearney, NE zoning and building permits guide lists the city divisions.
Gym Business Loans: What Partners Read
- Membership counts and dues revenue by month.
- Cancellations and how many members stay a year or longer.
- Bank statements, including card and recurring-billing deposits.
- Returns and a current profit and loss statement.
- The lease and the landlord's contribution to any build-out.
- Equipment quotes and the build-out bid.
Recurring billing is a strength in a gym's file, since it shows revenue that arrives on a schedule.
Buying an Existing Gym in Kearney, NE With Its Members and Lease
Buying a gym means buying its members, equipment, lease and brand. A partner reads membership trends, the condition of the equipment and the lease term. Buying a business in Kearney, NE explains how buyer cash, a seller note and a loan fit.
Prepaid memberships sold by the seller are a liability the buyer may inherit; settle how they are handled in the purchase agreement.
Group Fitness Studios and Personal Training Spaces
A studio built around classes or personal training buys less heavy equipment than a full gym but spends more on sound systems, mirrors, flooring and booking software. The equipment can be financed; the software is a subscription that belongs in the operating budget.
Studios that sell class packs collect cash before the classes are taught. That prepaid revenue is a liability until it is used, and a partner reading the bank statements will want to know how much of the balance is already owed to members. Keeping a simple report of unused class credits makes the request clearer.
Leasing Gym Equipment Instead
Leasing keeps cash in the business and can make an upgrade at the end of the term straightforward. Owning builds equity in equipment that can last many years. Compare every lease payment and the buyout with the loan's total before choosing.
A Checklist for a Gym Loan Request
- Get the equipment quote and any build-out bid.
- Pull membership and dues reports and bank statements.
- Confirm zoning and the lease terms for any new space.
- Work out the payment as a number of memberships.
- Phone (308) 310-7648 or send the online form.
Before sending, read the wording of the required consent box at the end of the form, then check it.
By Hazelbank Financial · Updated
