Business Loans and Financing for Gyms and Fitness Clubs

Opening a gym and fitness club in Canada comes with its own unique set of challenges. There are many costs to start up a business of this nature, such as equipment, a facility and much more. The good news is that as far as gym and fitness clubs go, there are business loans available to help passionate entrepreneurs succeed at their endeavours. This is important because they are ultimately contributing a very important form of value to the community, especially considering the state of today’s obesity levels.

When it comes to taking care of expenses that are related to gym and fitness clubs, the good news is that through Smarter Loans you’ll be able to secure one very easily. Obtaining a gym and fitness club business loan takes place entirely online. This means that you don’t need to navigate through tons of paperwork or wait times in order to do so. The major task at hand is simply determining a provider that is most suitable for what you aim to accomplish. With that being said, you’ll be able to access a directory below where you’ll find that we’ve listed the most reputable gym and fitness club business loans in Canada all onto a single page. From there, you’ll be able to simply apply to the provider that is most ideal for what you aim to accomplish.

Compare terms, rates and offers and then from there, click “Apply Now” to proceed with the provider that is most ideal for you. Alternatively, Smarter Loans is happy to assign you a qualified loan company from Canada if that is something you’d prefer.

We can help connect you with the top business financing providers in Canada.

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Top Business Loans and Financing for Gyms and Fitness Clubs Providers in Canada

Interest Rate
$5,000 - $500k
6 -12 months
$15,000 - $1 Million
Starting at 8%
3 - 24 Months
Starting at 7.99%
3-24 months
$5,000 - $500,000
4 - 12 months
Starting at 7.99%
Fixed, 4-18 months
$5,000 - $500,000
Starting at 7.99%
6 - 24 Months
$500 to $300,000
Starting at 8.39%
2, 3, 4, 6, 9, 12, 18 or 24 month terms
$5,000 - $50M
Starting at 7%
5 - 96 months
$5,000 - $300,000
Starting at 7.99%
3 - 12 months
$5000 - $800,000
Starting at 7.99%
6 - 24 Months
$10,000 - $250,000
3 - 12 months
$250 - $1,000,000
Starting at 10%
3 months - 60 months
$5,000 - $250,000

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What Types of Business Loans Are Best for Gym or Fitness Centers in Canada?

Canada Small Business Financing Program (CSBFP) Loans

If you can qualify for a CSBFP loan, you will have access to better rates for a gym loan. The CSBFP works with lenders, splitting the risk so they can offer you lower interest rates.

Term Loans

A business term loan is often the best choice for a gym or fitness center. They are best used to fund expansions, major purchases, hiring expenses, and other large expenses.

Revolving Line of Credit

One of the most useful financing options for a gym is a revolving line of credit. If you will need selective access to funds throughout the near future, a line of credit is a more open-ended financing option for you.

Equipment Loans

Gym and fitness center equipment is a huge expense. In many cases, gym equipment loans are the best options you will have. Gym equipment loans are a lot like term loans. The main difference is that they use your purchased equipment as collateral.

Merchant Cash Advance (MCA)

An MCA is a simple advance that is given in exchange for a portion of future credit card sales. MCAs are not like the business loan options, but they are typically quickly approved and have low borrower requirements. If you need funding very fast, MCAs are worth looking into.


What Are the Main Purposes for a Gym or Fitness Center Loan in Canada?

Franchise fees

Franchising is an important step for many gym businesses. Franchise fees are necessary for many gyms and fitness centers, so managers may take loans to pay for them.

New Equipment

Gyms and fitness centers very often find themselves in need of new equipment. New equipment is expensive, which is why it’s one of the most common reasons to take a gym loan.

Legal costs

Among the many large expenses of running a gym, legal costs can be one of the highest. Licensing and contracts with members are essential to any gym or fitness center. Of course, on-site injuries can lead to large and sudden expenses. These costs often lead gyms and fitness centers to take loans.

Liquid Assets

Any liquid asset can be financed through a business loan. Franchises often require their locations to have liquid assets worth hundreds of thousands of dollars. Gym loans can help you meet these expectations.

Working Capital

The day-to-day expenses of a gym add up quickly. Business loans, especially lines of credit, are used to help finance these operations when a gym’s cash conversion cycle isn’t ideal.

Staff costs

Payroll is one of the most important expenses to make sure you don’t miss. Fast loans can help you make sure you never miss it.


As a large, regular expense, rent can be covered by a business loan. Rent can also fall under the category of working capital. There are several types of loans that can be used to cover rent, including lines of credit and working capital loans.

New location

When there’s nothing to do to become more profitable but expand, a gym loan can cover the payment for a new location.

Advertising and Marketing

Marketing expenses can bring a huge return on investment when used properly. Gyms can pay for advertising and marketing with loans.


How do I apply for a Small Business Gym or Fitness Loan?

Gym loans can come from a wide variety of lenders. So, to find a gym loan, your first step will be to find and compare the available lenders. Your credit score and business financial information will determine which lenders will loan you money and the terms they will offer you.

To get a gym loan, you must send a loan application to the lender you want to work with. The lender will look at your recent business financials and pull your credit score. They will use the information you give them to decide on the terms of any offer they send you.

If you are sent an offer, you must decide whether to accept it. If you do, the lender will transfer you the money and the terms of your loan will be applied.


Frequently Asked Questions about Gym & Fitness Loans

How long does it take to get a loan for a gym/fitness center?

Wait times for any business loan are determined by a few factors:

The type of lender

Banks and government programs can take anywhere from a couple weeks to a couple months to send you funding. Alternative lenders can take anywhere from one day to one week, in most cases.

The type of loan

Lines of credit may take longer than term loans. Typically, merchant cash advances are the fastest.

Can I get a business loan for a gym/fitness center with bad credit?

Yes, you can. Many lenders will loan money to a gym owner with bad credit. If your credit score is low, some lenders will reject you while most others will offer you worse rates. Alternative lenders are more open to lending to borrowers with lower credit scores.

How big of a business loan can I get?

Lenders can potentially provide hundreds of thousands of dollars in business financing. The amount a lender is willing to give you will depend on your credit score and business financial information.

How to open a gym/fitness center in Canada?

Starting a gym in Canada requires you to cover a few areas:

  • Legal requirements
  • Franchising
  • Equipment

The easiest way to start a gym is to join an existing franchise. This provides you with an existing and successful business model to follow.

If you want to start your own gym or fitness center, you will have little or no help. You will, however, be able to make your own decisions and come up with your own rules and business model.

What are Canada’s top fitness center franchises?

Right now, Goodlife is rated as the top gym in Canada by Best Health Magazine’s Best Gym Awards poll. Other prominent franchise fitness brands that are popular in Canada include:

  • F45
  • 30 Minute Hit
  • 3rd Degree Training and Actual Nutrition
  • 9Round Franchising
  • Anytime Fitness
  • Barre Fitness
  • Crunch Fitness Canada
  • Eat the Frog Fitness
  • Greco Fitness
  • LIVE WELL Exercise Clinic
  • Orangetheory Fitness
  • Oxygen Yoga and Fitness
  • Planet Fitness
  • Snap Fitness
  • Trainers On Site

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