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Premier Fitness + Wellness Experience Opens in New Hampshire

“44 Business Capital is not only attentive and helpful, but they actually share the same enthusiasm I do for business and entrepreneurship. They genuinely want to see you and your business succeed and take great pride in playing such a fundamental role in helping bring your dreams and visions to life. Scott Stevens aligned with my vision and championed my business. He was collaborative, communicative and transparent, providing me with just the right amount of guidance necessary to be able to get my loan approved. Once approved, Dana Neas, Roxanne Selwyn and Mary Kingston helped oversee the loans closing and distribution. What I loved most about working with the closing team was their openness and communication. I always felt comfortable reaching out to them with questions or asking them to clarify details about the loan. The 44 Business Capital team is a true breath of fresh air. It's no wonder they have so many stellar, successful businesses in their portfolio! I feel grateful to have worked with them and even more grateful knowing that I have their continued support as I grow and build my business. I couldn't have asked for a better lending partner!”

Ashley Marand Iwanicki, Founder/Owner
Collective Studios | Londonderry, NH

CHALLENGE

While the borrower was working to secure the financing necessary to build and start The Collective Studios, the largest challenge was finding a financial institute that understood the vision and concept for the studio, but also had the confidence and courage to invest in a fitness business through COVID-19. Being a first of its kind in New Hampshire, many local bankers couldn't understand the value and the market demand that existed. Further complicating financing was the fitness industry (i.e. gyms and studios) were among the top hardest hit industries behind hospitality and tourism. Lenders were saying the business plan was great, the experience was outstanding, this seemed like an incredible business idea, but the bank wasn't going to lend to a fitness-based business during COVID-19.
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