Gym business loans for opening a gym — and for running one
Those are two different money problems, and the lending record shows it. A gym that has not opened yet borrows more than twice what an established one does, for different things, on different terms.
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Speed varies by product. Working capital and lines of credit can fund within a day; SBA loans take 30–90 days.
What gym owners actually borrow for
Fitness businesses are capital-heavy in a specific way: most of the money goes into the room before a single member walks through it, and then the cash-flow pressure moves to the calendar. These are the requests that come up.
- Commercial gym equipment. Racks, plates, cardio, functional rigs, recovery and studio kit. Commercial-grade equipment holds resale value, which is why it is usually financeable against itself.
- Buildout and leasehold improvements. Flooring, mirrors, sound, lighting, changing rooms, ventilation for a room full of people. Frequently the largest single line, and the hardest to finance on its own because it is attached to someone else’s building.
- Working capital through the ramp. Rent, staff and marketing run from day one; membership revenue builds over months. Under-funding this line is a common way a viable gym gets into trouble.
- A second location. Underwritten on the first one, which is why operators with a trading site have materially more options than first-timers.
- Franchise fees and the specified package. Fitness is one of the most franchised industries in small-business lending, and franchisors usually specify the equipment.
- Replacing worn equipment mid-life. Cardio takes the most abuse and is replaced on the shortest cycle. This is an operating cost that arrives as a capital request.
Two of those lines behave very differently from the rest. Equipment secures itself, so it is the easiest thing on the list to finance and the cheapest to price. Buildout secures nothing anyone can repossess and resell, so it usually has to travel inside a larger loan — which is one reason gym openings tend to be financed as a single project rather than piece by piece.
Opening a gym and running a gym are not the same request
Almost every article about gym financing is really about opening one. That is not an accident — it is where most of the lending goes. But if you already have members through the door, advice written for a pre-opening project will point you at the wrong product.
A project, financed as one thing
Buildout, equipment, signage, opening stock and several months of operating cost, requested together. There is no trading history for this site, so the lender is underwriting you, your money, and the model.
In the SBA record, gyms in this position took a median $340,000 over a median 10-year term.
A need, financed on cash flow
New equipment, a refit, a slow quarter, a second site. There are bank statements and a membership base, so the conversation is about what the business already earns rather than what it might.
Gyms trading two years or more took a median $143,000 — well under half the pre-opening figure.
Across every fitness and recreational sports centre, the FY2025 median approval was $264,500 on 1,380 loans — how that compares with other industries is on SBA lending by industry.
The practical consequence: if you are open and trading, you are usually not looking for a whole-project loan. You are looking at equipment financing for a defined purchase, a line of credit for the uneven months, or a term loan for a costed refit — all of which are simpler to arrange than a full opening package.
And if you have not opened, the honest position is that pre-revenue financing is a narrower market. It exists — more than half of all SBA lending to fitness centres went to businesses that had not opened yet — but it is concentrated in SBA-backed lending and in equipment deals where the asset carries much of the risk, and it asks more of your own credit and your own money than an established business would face.
Fitness is one of the most franchised industries in small-business lending
Across FY2020–FY2025 the SBA approved 5,701 7(a) loans to fitness and recreational sports centres, worth $2.34 billion and associated with 58,241 jobs. Two things in that file are not visible anywhere else.
| SBA 7(a) to fitness centres, FY2020–FY2025 | Loans | Median approval |
|---|---|---|
| Startup — loan funds will open the business | 3,092 (54.2%) | $340,000 |
| Trading two years or more | 1,389 (24.4%) | $143,000 |
| New business, two years or less | 795 (13.9%) | $228,000 |
| Change of ownership | 370 (6.5%) | $300,000 |
| All fitness centres | 5,701 | $265,000 |
First, this is overwhelmingly opening money. Taking the two pre-established categories together, 3,887 of 5,701 approvals — 68.2% — went to businesses that were either not yet open or under two years old. For comparison, the median 7(a) loan to a non-franchised business of any kind over the same period was $150,000.
| Franchised vs independent | Loans | Median approval |
|---|---|---|
| Franchised brand recorded | 2,736 (48.0%) | $350,000 |
| Independent | 2,965 (52.0%) | $150,000 |
Second, nearly half of it is franchised. Across all industries, franchised businesses took 12.1% of 7(a) approvals in the same period. In fitness the figure is 48.0% — roughly four times the economy-wide rate — and the franchised median is more than twice the independent one. The most frequently financed brands in the file are boutique and studio formats rather than big-box clubs: Hotworx (356 loans), Anytime Fitness (272), F45 Training (137), StretchLab (95) and D1 Training (89).
Two further details are worth knowing before you talk to anyone. 88.4% of these approvals were recorded as secured, so expect collateral and a personal guarantee to be part of the conversation. And the lending is concentrated: a single lender, Huntington National Bank, accounted for 1,206 of the 5,701 approvals — more than one in five — which is part of why the experience of applying differs so much depending on who you happen to approach.
The size distribution matters too, because it is easy to read a $265,000 median and assume that is the entry price. It is not. 1,992 of these loans — nearly 35% — were under $150,000, and 912 were under $50,000. Smaller, more specific requests are a normal part of this market.
Source: U.S. Small Business Administration, 7(a) FOIA data file FOIA_7a_FY2020_Present_asof_260630.csv, as-of 30 June 2026 (accessed 2 September 2026). Population: 7(a) approvals FY2020–FY2025 under NAICS 713940 (Fitness and Recreational Sports Centers), excluding cancelled approvals and exact duplicate records. “Franchised” means a franchise name was recorded on the approval. Approvals are not originations, and a loan being approved does not mean it was disbursed. Lender counts describe past activity and are not a ranking, a recommendation or a rate comparison. Historical data describes past lending, not current availability or terms.
Financing commercial gym equipment
Equipment is the part of a gym that finances most easily, because the lender can point at the thing it lent against. Three decisions do most of the work.
New or used
Both are financeable. Commercial fitness equipment has a real secondary market, and strength equipment in particular holds value for a long time, which is why used racks and plates are a routine purchase rather than a compromise.
Used, older or private-party purchases may attract a larger down payment or a shorter term, because the lender is pricing a harder asset to value.
Lease or loan
A loan builds ownership from day one and often needs a down payment. A lease keeps the monthly payment lower and leaves an end-of-term decision. The choice maps onto the equipment: cardio takes the most abuse and is replaced on the shortest cycle, while strength equipment lasts.
Match the structure to how long you intend to keep the asset. Buying long-life equipment on a short lease, or leasing something you will still want in ten years, is where the cost quietly appears.
What the facility actually covers
Delivery, installation, assembly and floor protection are real costs on a gym fit-out, and many lenders can bundle these “soft costs” into the same facility rather than leaving you to pay them in cash.
Ask early. Soft-cost treatment varies by lender and some cap it as a percentage of the equipment price, which changes how much cash you need on the day.
On structure generally, equipment financing runs to the useful life of the asset, is secured by a UCC-1 filing on that specific equipment, and normally carries a personal guarantee from owners of roughly 20% or more. Down payments commonly run from nothing to about 20%. The full mechanics are on the equipment financing page.
One boundary worth stating plainly. This page is about financing a fitness business. If you are buying a treadmill or a rack for a home gym, that is consumer financing — usually offered by the retailer or the manufacturer at the checkout — and nothing here applies to it.
Which financing fits the situation you are in?
Gyms rarely need one instrument. A studio opening a second site and a club replacing its cardio floor are solving different problems with different money.
“I am replacing the cardio floor, or kitting out a new studio room.”
Equipment Financing
Secured on the equipment itself and repaid over its working life — the cheapest way to price a defined purchase.
Explore equipment financing“Intake is concentrated in part of the year and I need cover for the quiet months.”
Business Line of Credit
Reusable capacity you draw only in the weeks you need it, which suits a business whose revenue arrives unevenly across the year.
Explore a line of credit“I have costed a refit — flooring, mirrors, sound — and want one predictable payment.”
Business Term Loan
One lump sum on a fixed schedule, which is the right shape for buildout work that secures nothing on its own.
Explore term loans“I am financing a whole opening, or a second location, and I can wait for the right terms.”
SBA Loans
Government-guaranteed lending with long repayment terms — the route most fitness openings in the data actually took.
Explore SBA loans“Rent, payroll and the equipment payment all landed in the same slow month.”
Working Capital Loan
A lump sum sized to everyday operating cost, when the pressure is general rather than a specific purchase.
Explore working capital loans“I am opening a franchised studio and the brand has specified the package.”
Franchise Financing
Fitness is one of the most franchised categories in SBA lending, and franchise openings are underwritten as a whole project.
Explore franchise loansOther industries have their own financing patterns — browse financing by industry, or start with small business loans if you are not sure which product you need.
Gym business loan FAQs
Can I get a loan to open a gym that has not started trading?
Pre-opening financing is a narrower market than financing an operating business, but it is a real one: more than half of all SBA 7(a) lending to fitness centres between FY2020 and FY2025 went to businesses that had not opened yet. It is concentrated in SBA-backed lending and in equipment deals where the asset itself carries much of the risk, and it asks more of your own credit and your own contribution than an established business would face. Availability depends on the lender, so for any individual case it has to be checked rather than assumed.
How much do gyms typically borrow?
In the SBA 7(a) record for FY2020–FY2025, the median approval to a fitness or recreational sports centre was $265,000 — but that single number hides the split. Businesses that had not yet opened took a median $340,000, while those trading two years or more took a median $143,000. About 35% of all these loans were under $150,000.
What credit score do I need to finance gym equipment?
There is no gym-specific threshold. For equipment financing generally, many lenders prefer a personal credit score of 600 or higher, with the best rates going to scores above 680–700, and because the equipment secures the loan some lenders will go lower with a larger down payment or a higher rate. Exact thresholds vary by lender and by product.
Can I finance used gym equipment?
Yes. New and used commercial equipment both qualify with most lenders. Commercial fitness equipment has an established secondary market, which is what makes it financeable. Used, older or private-party purchases may attract a larger down payment or a shorter term, because the lender is valuing a harder asset to resell.
Is gym equipment leasing better than an equipment loan?
Neither is better in general; they solve different problems. A loan gives you ownership from day one and often needs a down payment. A lease keeps the monthly payment lower and defers the ownership decision to the end of the term. Match the structure to how long you expect to keep the asset — that is where the real cost difference shows up.
Why is so much gym lending franchised?
Because a franchised studio brings something a new independent gym cannot: an operating model with a track record a lender can look at. In the FY2020–FY2025 SBA data, 48.0% of loans to fitness centres carried a franchise name, against 12.1% across all industries, and the most frequently financed brands are boutique studio formats rather than big-box clubs.
Can I finance the buildout as well as the equipment?
Usually, but not as a standalone equipment deal. Leasehold improvements do not secure themselves the way a rack or a treadmill does, so buildout normally travels inside a larger facility — a term loan or an SBA loan covering the whole project — rather than being financed on its own.
How does Fundur help?
One application is compared across the options available for your situation, with the differences explained. Fundur is a financing marketplace, not a lender, and is not affiliated with the SBA or any fitness franchisor. Checking your options is a soft inquiry and will not affect your credit score.
Tell us where the gym is today. We will find the financing that fits it.
Opening, refitting or expanding — the right product is different for each, and that is the first thing an advisor will sort out with you.
Fundur is a financing marketplace, not a lender. Fundur does not make credit decisions or guarantee approval, rates, terms, or funding times. A dedicated funding advisor can walk you through any option you receive. Final terms depend on lender approval.