Whiteside Finance hands the request on, and the funding partner that looks at it sets any terms.
Racks, reformers, rowers, flooring, studio furnishings or the purchase of a gym that is already open: each cost for a Redwood City, CA gym points to its own product, and a funding partner decides on any offer.
At a glance
- Fitness and Recreational Sports Centers (NAICS 713940), San Mateo County, CA
128 employer establishments (CBP 2023)
- Paid employees at those centers, San Mateo County, CA
2,595 (CBP 2023)
- Centers with five or more employees
86 of 128 (CBP 2023; our arithmetic)
- Fitness and recreational sports centers, ZIP 94063
15 employer establishments (ZBP 2023)
Commercial gym financing for San Mateo County, CA: cable machines, turf lanes and lockers
A commercial gym’s floor is largely machines, which is good news for financing. Cable machines, power racks, benches, plate-loaded stations and a turf lane for sled work can each be listed on a vendor quote and placed on equipment financing, with the equipment backing the agreement. Locker rooms are different: lockers and benches are furnishings a term loan can suit, while shower fixtures and plumbing inside a leased space are building work outside this site.
Many gyms here carry a real staff. Of the 128 establishments under Fitness and Recreational Sports Centers (NAICS 713940) that San Mateo County, CA counted in 2023, 86 had five or more employees, and the trade’s 2,595 paid employees average about 20.3 per center (CBP; our arithmetic).
Fitness equipment loans in Redwood City, CA: studio furnishings, flooring and member software
Studio furnishings cover what turns an empty lease into a room people pay to train in: freestanding mirrors, a sound system, rubber floor tiles and a front desk. Much of that is hard to resell, so a term loan can fit it better than an equipment agreement; lighting and other wiring are building work outside this site.
Illustration only, invented figures: the studio’s furnishing quote is $82,500. Placed on a term loan for six years at an annual rate of 9.75%, it calls for $1,518.00 on each monthly due date, and the six years of installments come to $109,296.00.
Member software is a subscription, a monthly cost rather than equipment. The hardware around it, such as check-in kiosks, tablets and handheld scanners, can join an equipment quote.
Gym business loan requirements for San Mateo County, CA: rowers, assault bikes and rubber flooring
Each funding partner sets its own requirements, and there is no single list. What a gym can put in front of a partner is a clear picture of the purchase and of the membership that pays for it.
- The vendor quote, line by line: rowers, assault bikes, racks and rubber flooring with prices and delivery
- Recent business bank statements showing membership dues coming in
- The number of active members and the monthly dues, from the member software
- The lease and its remaining term
- Time in business, and the owner’s personal credit, which a partner may check during its own review
A gym owner who sends the request form has not applied for credit by doing so. Whether credit gets pulled, and when, is up to the funding partner during the review it does itself.
Gym equipment financing for San Mateo County, CA: reformers, mirrors and studio sound systems
A reformer studio buys fewer, more expensive machines. Reformers, a wall of mirrors and a studio sound system can sit on one equipment financing quote, and the reformers keep a resale value if the studio changes plans.
Illustration only, invented figures: 12 reformers at $4,850 each, mirrors at $6,900 and a sound system at $7,400 make a $72,500 quote. With five years of equipment financing at an annual rate of 10.25%, that quote turns into $1,549.34 per installment and $92,960.40 by the sixtieth one.
A wider count covers owners who work alone: for 2024, Nonemployer Statistics counted 298 businesses with no paid employees in San Mateo County, CA under Other Amusement and Recreation Industries (NAICS 7139), a code that takes in fitness centers along with other recreation businesses.
Business loans for gyms in Redwood City, CA: member software, cardio rows and a second location
Buying an existing gym, or opening a second location, is a term loan question. A partner can ask for the purchase agreement, the equipment list, membership and dues history, the lease and whether the landlord will assign it. The term loans page covers how fixed installments work.
Illustration only, invented figures: a $340,000 gym purchase with $51,000 of the buyer’s cash leaves $289,000 to finance. Spread across seven years of monthly installments at an annual rate of 10.5%, the loan asks $4,872.73 each time; all 84 of them together come to $409,309.32.
The months before a new location fills its member rolls are a timing question. A line of credit can carry rent and coaching payroll through them, and new cardio rows or member software hardware can go on an equipment quote of their own.
ZIP 94063, home to the Whiteside Finance office, held 15 establishments under Fitness and Recreational Sports Centers (NAICS 713940) at physical addresses in 2023 (ZBP). The Redwood City, CA page has more on that ZIP, and the industries page lists salons and shops in the same group.
By Whiteside Finance · Updated