No words can describe the gratitude I have for working with Matt Putnam. He was the best referral I have had in my lifetime, and we consider him a part of our CycleBar family! The SBA process is a tremendous amount of information to digest, but Matt was very patient and available through the entire process, always looking out for our best interests. The entire team I encountered was extremely professional, patient, and helpful. I absolutely would and have already recommended Matt and Dogwood State Bank to other small business owners.
Client Profile
Red Dog CycleBar is a premier indoor cycling studio located in Winter Garden, Florida. As a boutique fitness studio, Red Dog CycleBar offers a level of service and premium amenities not found in big box gyms. At a Red Dog CycleBar class, clients can expect a low-impact, high intensity cycling experiences for all ages, body types and fitness levels. Each ride is fueled with custom music playlists called CycleBeats® in their state-of-the-art CycleTheatre®. CycleBar is an inclusive brand that seeks to be an integral and inspiring part of the community.
Loan Profile
After gleaning more than 25 years of technical experience in the corporate world, owners Lynette and Steve decided to open the Winter Garden CycleBar, along with two other CycleBar franchises in Central Florida. An avid cyclist herself, Lynette is eager to share the CycleBar experience with the community. After struggling initially to find a lender who would finance the franchise startup without a business partner, Lynette was referred to Matt Putnam at Dogwood State Bank. Together, they determined an SBA 7(a) with an SBA Express LOC to be the best option. The SBA loan program allowed Lynette to remain a sole owner of the business, while providing several other benefits including a low interest rate, unique loan structure, and flexible terms. Ultimately, the SBA loan provided the funding necessary to get the business up and running.
The SBA loan program helps open doors to small business owners who may not otherwise qualify for a conventional loan. Visit our website to learn more about our SBA Loan Programs and get to know Business Lending Specialist Matt Putnam.
