Bowling and bowling centers have been making a dramatic comeback in recent years. With 3,696 bowling alleys and 45 million participants around the country, bowling has become a four billion dollar industry—and the foremost participator sport among U.S. adults over the age of 18.
A majority of bowling centers saw profits increase between 2014 and 2015, as the post-recession economy rebounded and lower gas prices and rising employment rates encouraged increased patronage. The last few years have seen an annual growth of 30 to 50 new facilities that feature bowling lanes. And even though bowling centers have had to re-invent themselves for each generation, bowling alley owners have a notorious knack for creating a fun environment. Today, more youth and women are participating in the sport, and seniors– who spend 4-6% of their annual income on entertainment—consider bowling a social fitness alternative.
Why Seek Funding?
Savvy business owners are boosting their profit opportunities by creating one-stop entertainment shops to attract a wider guest demographic. By supplementing their centers with arcades, miniature golf, go-karts, skating rinks and dining areas, bowling alleys are experiencing a resurgence in popularity.
But opening a new bowling center or expanding the offerings of your existing center requires capital. And that’s where we come in. Cornerstone Capital Lending is your one-stop-shop for securing bowling alley loans that give you the funding you need to grow your business.
Funding Types and Options
SBA 7(a) Loans
The most popular SBA financing option is the SBA 7(a) loan. Bowling alley owners can secure up to $5 million to finance the following projects or goals:
- Purchasing or expanding property for bowling alleys
- Purchasing an existing business
- Purchasing a leased property
- Purchasing new technology for expansion
- Refinancing current debt
SBA 504 Loans
SBA 504 loans are another option for business owners who want to purchase real estate or equipment for their long-term growth. These loans are also known as Certified Development Company loans, or CDC loans. Businesses can take out SBA 504 loans for:
- Purchasing existing buildings or property that is being leased
- Purchasing new technology or equipment that will expand your bowling alley business
- Purchasing new buildings or renovating current facilities
Bowling alley owners looking to buy or refinance commercial real estate have the option to take out a conventional loan. Our expert team can help you determine if this option is right for you.
The Loan Financing Process
As you decide to reach for your goals, take the first step. Explore if conventional or SBA bowling alley loans are right for you by getting in touch with a lender you can trust. The Cornerstone Capital Lending experts have decades of experience securing SBA and bowling alley loans. And we’re putting that knowledge to work for you, to navigate you through finding the bowling alley loans that are right for you.
Take The Next Step
Starting a new business is exciting and comes with unique challenges. The certified lenders at Cornerstone Capital Lending can help you find and secure the right loan for your business, fast. Contact us to learn more about conventional and SBA bowling alley loans.