NE1 Fitness Club lands £20K Start Up Loan, tops 100 members
What's the deal? Newcastle-based NE1 Fitness ClubDealroom has a profile for this one. Try Dealroom → has secured a £20,000 Start Up Loan through the British Business Bank to fund its expansion. The debt financing was delivered with support from Business Enterprise Fund North East (BEF North East)Dealroom has a profile for this one. Try Dealroom →.
Why now? Founder Josh HallDealroom has a profile for this one. Try Dealroom → launched the community-focused gym in March 2023, growing it through group training sessions. As membership rose, the business outgrew its original premises and needed a larger site to keep expanding.
What's the endgame? The loan let Hall relocate to a new site minutes from the original, invest in equipment, and build a space for a growing team. Since moving, the club has passed 100 members and hit its year-end turnover targets ahead of schedule.
Hall has also hired two part-time staff and plans to recruit a head coach within the next 12 months. "I wanted to do things properly rather than cut corners," he said. "The Start Up Loan gave me the additional funding I needed to make the move and invest in the business with confidence."
Rowan GreenDealroom has a profile for this one. Try Dealroom →, associate investment manager at BEF North East, called the club "a fantastic example of a business that has grown organically through hard work, dedication and a strong connection with its community."
The signal: Government-backed Start Up Loans continue to fill a gap for small founders who lack access to conventional bank finance, giving community businesses a route to scale without giving up equity.
Read more: Insider Media
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