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GE Capital Provides $45MM to Fitness Club Chain YouFit

December 19, 2014, 07:41 AM
Filed Under: Fitness Clubs

GE Capital announced it is providing a $45 million credit facility to YouFit, LLC., a chain of fitness clubs. The facility will be used to support the company’s future growth plans and for general working capital needs.

YouFit is headquartered in Deerfield Beach, FL, and has more than 75 locations in 13 states. YouFit provides customers with budget-friendly, month-to-month membership options. They are also committed to sustainability, outfitting gyms with energy-efficient choices and recycled materials.

“As we expand into new markets and support our existing locations, we needed a lender who could provide us with both financing and expertise,” said Rick Berks, founder and CEO of YouFit. “GE Capital offers us both, which will help us realize our growth plans.”

“Our financial solution will help YouFit with their short- and long-term business goals,” said Bob McCarrick, chief commercial officer—lending at GE Capital, Corporate Finance. “Additionally, we are excited to provide access to insight and expertise from the greater GE network to the YouFit team, which we feel will help their company reach the next level of success.”

GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses expanding in North America, Asia and Europe. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: aerospace; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; oil and gas; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE’s best practices to help build their business.

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