Fintech Startup LeaseQ Helps Former NFL Player Expand Fitness Venture
Fintech Startup LeaseQ Helps Former NFL Player Expand Fitness Venture
Steadfast Fitness & Performance finds perfect financing option, plans to open new facility Saturday
BURLINGTON, Mass. (Jan. 28, 2016) – LeaseQ, an online marketplace that connects business owners, equipment sellers, and lenders to make selling and financing equipment fast and easy, today announced support for the expansion of Steadfast Fitness & Performance, a personal training facility developed by former NFL player and Super Bowl Champion Isaiah Stanback and former University of North Texas Wide Receiver Jared Harrison. By financing equipment through LeaseQ, Stanback and Harrison can now expand their facility by 9 times the size to 14,000 square feet, to become one of the largest fitness training facilities in Dallas–Fort Worth.
In 2013, Stanback and Harrison opened Steadfast Fitness & Performance in a 1,500 square-foot facility with 900 square feet of usable training space. Within two years, the facility began to run out of space, and the business partners began visiting banks and knocking on doors seeking funding to grow. The process was frustrating, given their limited time in business and desire for a large expansion, until a South Carolina equipment vendor recommended LeaseQ.
“Banks can love your idea and see your progress, but at the end of the day, they look at one or two factors,” Stanback said. “We started to expect to hear no and pray for yes. LeaseQ was the total opposite of what we’d been running into. It was a very clean process and every time we spoke with them, we’d ask, ‘Is this really happening?’”
LeaseQ identified multiple lenders that could help Stanback and Harrison finance the equipment they needed to expand their business. To get the best financing terms, LeaseQ split the financing into two separate leases and matched Steadfast Fitness & Performance with its perfect lender, American Capital. American Capital not only provided competitive rates, but also helped facilitate and structure both leases.
“As a marketplace, we’re uniquely positioned to ensure Isaiah and Jared have options available to them and receive the best solution,” said David Trost, director of business development at LeaseQ. “We’re excited because this isn’t just a story about replacing an old piece of equipment. It’s a perfect example of helping a customer truly expand their business and take it to the next level.”
For Stanback and Harrison, “the next level” means providing more access to affordable fitness training and different levels of service. The expanded facility will offer personal training options for everyday people as well as professional athletes, new classes, and rentable spaces for kids’ soccer practices.
“We’re tired of what the training industry has been, so we’re not pricing people out of the service,” Stanback said. “I love sports. I love mentoring. And I love seeing people succeed. That’s awesome.”
Steadfast Fitness & Performance will celebrate the grand opening of its new facility on Saturday, Jan. 30. For more information, visit www.steadfastfp.com.
About LeaseQ
LeaseQ is an online marketplace that connects businesses, equipment sellers, and equipment finance companies to make selling and financing equipment fast and easy. The LeaseQ platform is a free, cloud-based SaaS solution with a suite of on-demand software and data solutions for the equipment leasing industry. LeaseQ provides business process optimization (BPO) and information services that streamline the purchase and financing of business equipment across a broad array of vertical industry segments. For more information about LeaseQ, visit www.leaseq.com.
About Steadfast Fitness & Performance
Steadfast Fitness & Performance is a personal training facility developed and facilitated by Isaiah Stanback, former Dallas Cowboy, Super Bowl XLVI Champion, and Jared Harrison, former University of North Texas wide receiver. Understanding that people have varying fitness goals, our trainers will work with each client to provide a uniquely tailored fitness and nutritional program to promote a healthy lifestyle.
Steadfast Fitness & Performance is also committed to the development and success of aspiring athletes, from little league to professionals. Steadfast Fitness & Performance will provide the training and mentorship required for athletes to reach their full potential. We also accommodate prenatal and postnatal clients with specialized fitness programs tailored to meet their fitness goals. For more information about Steadfast Fitness & Performance, visit www.steadfastfp.com.