MINNESOTA · NAICS 713940
Minnesota fitness center deals run on membership-model projections, franchise terms, and trade-area saturation. Fitness and recreation centers drew $11.1 million across 33 calendar 2025 loans in one of the country's most active states for the class.
FEASIBILITY TRIGGER
Membership-model projections, franchise terms, and trade-area saturation drive study requirements.
SBA 7(a) and 504 lenders funded 491 fitness center projects across Minnesota between FY2010 and FY2026, moving $161.9 million in approved capital at an average ticket of $330,000. That volume places Minnesota at #7 of 38 states measured for fitness center SBA activity, or 2.7% of national fitness center dollars. The 7(a) program carried 89.2% of the loan count, with 504 taking the balance, and 67 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 491 |
| Approved volume | $161.9 million |
| Average loan size | $330,000 |
| 7(a) share | 89.2% |
| Approvals since FY2024 | 67 |
| State rank by loan count | #7 of 38 |
Among the 371 seasoned loans in this segment (approvals FY2010–FY2021), 5.9% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for fitness center is 10.9%, against 7.3% across all industries. That performance runs below the national benchmark for this asset class, a credit-positive signal for lenders.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 5.9% adverse-resolution rate below the national fitness center benchmark of 10.9% supports the credit story for well-underwritten Minnesota projects in this class. Across 491 SBA loans averaging $330,000, that track record does not eliminate the need for a third-party feasibility study, but it means a rigorous study reinforces rather than defends the projections.
Every Minnesota fitness centers project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Minnesota projects often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and the state's calendar 2025 average rate ran 0.63 points below the national figure. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Fitness and recreation centers drew $11.1 million across 33 calendar 2025 Minnesota loans in one of the country's most active states.
For a national view of this asset class, see our fitness center SBA feasibility overview, and read our related analysis in the fitness center lending research on our blog.
Public SBA and CDC program records, cited as program evidence
SBA 504 through B:Side Capital with Central Bank
Swim instruction facility, national program evidence
Colorado
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Book a MeetingOur SBA feasibility study consultants prepare gym, boutique fitness and recreation studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
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