WASHINGTON · NAICS 713940
Washington fitness center projects span franchised concepts, boutique studios, climbing gyms, and instruction facilities across the Puget Sound and Spokane corridors. Studies translate membership pricing, penetration, attrition, and trade-area saturation into projections, and reconcile build-out costs and franchise terms against coverage under stress.
FEASIBILITY TRIGGER
Membership-model projections, franchise terms, and trade-area saturation drive study requirements.
Washington generated 375 SBA-disbursed fitness center loans between FY2010 and FY2026, worth $191.4 million in approved 7(a) and 504 financing at an average of $510,000 per deal. Ranked #15 of 38 states for fitness center SBA volume, the state captures 3.2% of national fitness center dollars. 91.2% of the loans ran through 7(a) with 504 covering the remainder; 80 approvals have posted since FY2024.
| Disbursed loans (FY2010–FY2026) | 375 |
| Approved volume | $191.4 million |
| Average loan size | $510,000 |
| 7(a) share | 91.2% |
| Approvals since FY2024 | 80 |
| State rank by loan count | #15 of 38 |
Among the 253 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 Washington projects in this class. Across 375 SBA loans averaging $510,000, 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 Washington 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.
Washington projects most 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, decisive in a Puget Sound market where land costs run high. 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.
Puget Sound and Spokane corridors carry membership-model fitness demand across the state.
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.
Compare neighboring markets: Virginia, West Virginia, Texas.
Public SBA and CDC program records, cited as program evidence
$4M SBA 504 building purchase through TMC Financing with 10 percent down
Franchise building purchase, 2020, national program evidence
Watsonville, Santa Cruz County, California
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
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.
California, Texas, Florida, New York, Illinois, Georgia, New Jersey, Ohio, Pennsylvania, Michigan, Arizona, Colorado, Washington, Virginia, Minnesota, Maryland, Wisconsin, Missouri, Indiana, South Carolina, Oregon, Connecticut, Nevada, North Carolina, Tennessee, Massachusetts, Nebraska, New Mexico, West Virginia, Idaho, Montana, Maine, New Hampshire, Rhode Island, Delaware, Iowa, Kansas, Wyoming.