SBA 504 loans for Fitness Center and Gyms
Over the last decade, gym and fitness studio owners have used SBA 504 financing to fund more than $2.4 billion in real estate, construction, and equipment. We help you secure the same financing — with 25-year fixed rates and a team that knows the 504 program inside out.
The Fitness and Gym SBA 504 market, by the numbers
What ten years of Fitness and Gym SBA 504 loans — pulled directly from the SBA's own data — tell us about how operators finance this business.
Source: SBA 504 loan approvals for NAICS 713940 , FY2016–FY2025. Data via FOIA request, updated quarterly.
What an SBA 504 loan covers for a Fitness and Gym
SBA 504 financing is built for long-term assets — the real estate, infrastructure, and major equipment that anchor a Fitness and Gym business.
Property purchase & land
Own the building your gym fills instead of renting it. Whether you're buying the space you already operate in or a new spot with the ceiling height and parking a gym needs, 504 lets you take down the real estate with as little as 10% down.
- The building you currently lease
- Freestanding gym and studio buildings
- High-visibility retail and end-cap spaces
- Buying out your current lease
- Converting a warehouse or big-box to a gym
Ground-up construction
Build a facility around how your members actually train. 504 covers the shell and the specialized build-out — the reinforced flooring, the locker rooms and showers, the HVAC that keeps a packed floor comfortable — everything a gym needs to open.
- Ground-up gym and studio builds
- Reinforced and specialty flooring
- Locker rooms, showers, and restrooms
- High-capacity HVAC and ventilation
- Studios, courts, and pool areas
Expansion & second locations
A full floor at peak hours is the signal to grow. Use 504 to add square footage, build out new studio space, or open a second location — without draining the membership revenue that keeps the current club running.
- Second and third locations
- Adding floor space or studios
- Building out group-class or recovery rooms
- Acquiring another operator's gym
- Renovating a space you've taken over
Equipment with long lives
The strength and cardio equipment that fills the floor — and lasts long enough to finance. 504 is built for big-ticket gear with a long useful life, so you spread the cost over the years it'll actually serve your members.
- Strength machines and free-weight systems
- Cardio equipment floors
- Functional training rigs and racks
- Turf, flooring, and matting
- Front-desk, access, and member-management systems
How SBA 504 financing is structured
Three pieces of capital come together so you only put 10% down on a project that might cost millions.
First lien (50%)
APC funds this directly — we're a private direct lender, not a broker. Term and rate quoted upfront.
SBA 504 / CDC (40%)
Second lien, fixed for 25 years through a Certified Development Company. Rates locked at funding.
Borrower equity (10%)
Cash down, retained equity in existing real estate, or seller carry-back in some cases.
What a 504 project for a Fitness and Gym looks like
Three illustrative examples showing typical deal structures, financing splits, and project scopes.
A gym operator with an established business built a ground-up facility with a turfed training floor, a full rig setup, locker rooms, and the high-capacity HVAC a packed floor demands. As an experienced operator on a special-purpose build, it was structured at 15% down. One 504 loan wrapped the land, the building, and the buildout at a long fixed rate.
A full-service gym that had rented the same space for years bought the building outright as the lease came up for renewal. As an established, membership-funded business, the purchase came together at 10% down. The 25-year fixed 504 rate turned an unpredictable lease into an owned asset with a payment that won't jump at renewal.
A boutique studio with a loyal member base opened a second location across the metro to cut waitlists for its peak classes. Rather than draining the flagship's revenue, the owners used a 504 loan at 15% down to buy and build out the new studio. The long fixed term protected cash flow while the second location built its membership.
Owning your Fitness and Gym property beats leasing — here's the math
Slide the inputs to match your situation. The equity number on the right is what you'd have in 10 years if you owned instead of leased.
Where Fitness and Gym SBA 504 money is going
Geography, deal sizes, top CDCs, and the banks making it happen — all pulled from a decade of SBA data.
Top 10 states by loan volume
| State | Loans | Total funded | |
|---|---|---|---|
| 1 | Texas | 74 | $110M |
| 2 | Florida | 70 | $64M |
| 3 | California | 69 | $99M |
| 4 | Massachusetts | 52 | $73M |
| 5 | Illinois | 47 | $54M |
| 6 | Minnesota | 46 | $34M |
| 7 | Georgia | 32 | $40M |
| 8 | Wisconsin | 31 | $30M |
| 9 | Colorado | 31 | $37M |
| 10 | Indiana | 29 | $24M |
Deal size distribution
Top CDCs financing Fitness Center and Gyms
These Certified Development Companies have funded the most Fitness and Gym SBA 504 deals over the past decade. Click any CDC for their full profile.
Top 10 third-party lenders for Fitness and Gym deals
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | The Huntington National Bank | 16 | $23M |
| 2 | JPMorgan Chase Bank | 16 | $21M |
| 3 | Rockland Trust Company | 12 | $18M |
| 4 | Bank of America | 9 | $15M |
| 5 | Old National Bank | 8 | $7M |
| 6 | Zions Bank, A Division of | 8 | $12M |
| 7 | Wells Fargo Bank | 8 | $9M |
| 8 | Harvest Commercial Capital, LLC | 8 | $12M |
| 9 | Glacier Bank | 7 | $18M |
| 10 | TD Bank | 7 | $17M |
What it takes to qualify
SBA 504 has clear, objective criteria. Most Fitness and Gym operators we work with qualify.
Business requirements
- For-profit businessSBA 504 is for operating companies, not investors or holding companies.
- Owner-occupied useYou operate the Fitness and Gym — you're not just buying real estate to lease out.
- US-based and below SBA size limitsMost Fitness and Gym businesses qualify under SBA's small business size thresholds.
- Demonstrated ability to repayCash flow, credit, and business experience all matter — but no perfect score required.
Project requirements
- 51% owner-occupancyYour business must occupy at least 51% of the financed property.
- Eligible use of fundsReal estate, ground-up construction, major equipment, and certain refinances qualify.
- Long useful lifeEquipment financed under 504 must have a useful life over 10 years.
- 10% equity contributionCash, retained property equity, or seller carry — structured to fit your situation.
Most Fitness and Gym operators qualify. The fastest way to know is a 10-minute call. 1-855-504-LOAN
Built for Fitness and Gym financing
We're a direct lender that specializes in SBA 504 — not a broker, not a generalist.
Explore SBA 504 loans by industry
A decade of loan data, case studies, and deal structures for each of the property types we finance most.
Ready to finance your Fitness and Gym project?
Schedule a 15-minute call. No application fee, no obligation.