Corpus Christi, TX (PRWEB) December 22, 2013
Ironwood Finance (http://www.ironwoodfinance.com), providers of unsecured, short-term capital financing for small businesses, today announced a new financing program specifically designed for gyms, fitness centers, and sports supplements stores. The new program allows owners to borrow for new equipment or expansion based on cash flow, not credit, so they can expand their operation and take advantage of the growing demand for health and physical fitness services.
Fitness centers particularly are a growth market. Obesity in the United States continues to rise and over 72 million Americans, one-third of the U.S. population, are considered clinically obese. The International Health, Racquet & Sportsclub Association (IHRSA) estimates that there are more than 51 million U.S. health club members and the industry revenue represents $21.4 billion. There are currently 30,000 health clubs in the U.S. and that number has been growing steadily.
“Demand for health club services continues to rise as more Americans head to the gym, yoga classes, Pilates classes – you name it,” stated Kevin Donahue, founder and CEO of Ironwood Finance. “The demand for sports and nutritional supplements continue to build. Unfortunately, the economy is still recovering and banks don’t tend to invest in health clubs and vitamin shops, even when their markets are clearly growing. Ironwood Finance can help fill the gap by providing capital for new equipment or expansion.”
The nutritional supplements industry (commonly referred to as Vitamins, Minerals and Supplements or VMS) also has demonstrated tremendous growth. According to Nutrition Business Journal, the VMS industry hit $32 billion in 2012 and is projected to double to $60 billion by 2021. In a time when other retailers are closing their doors, the demand for sports and health nutrition specialty stores continues to grow.
Ironwood Finance offers capital to facilitate any aspect of business expansion, including equipment rental, advertising and marketing, private labeling, facilities upgrades and expansion, and more. Business owners can borrow up to 10 percent of their gross annual revenue for immediate working capital.
About Ironwood Finance
Based in Corpus Christi, Texas, Ironwood Finance helps small business grow by offering working capital when they need it. Loans are approved based on cash flow, not credit history, and Ironwood Finance boasts a 90-percent loan approval record. Loans of up to $500,000 are available for up to 18 months to help with equipment leasing, working capital, or other aspects of business operations.
For more information, please visit http://www.ironwoodfinance.com.