How we picked
Filtered to lenders that fund recurring-revenue service businesses with equipment-heavy build-outs. POS-embedded options ranked first when applicable — Square and Clover both serve fitness studios. Equipment financing prioritized for Reformers, cycling bikes, and rigs. Generalist MCA included for fast working capital when membership revenue is verifiable. SBA reserved for build-out, acquisition, or second-location expansion. Lower-credit-tier MCA included for studios rebuilding credit post-pandemic.
Top picks at a glance
| Lender | Best for | Amount | Speed | Min credit | Action |
|---|---|---|---|---|---|
| Square Capital | Best for Square-using fitness studios | $300 – $250,000 | Funds as soon as next business day | No FICO pull — Square underwrites entirely against your Square sales history | Apply → |
| Clover Capital (Fiserv) | Best for Clover-using fitness studios | $500 – $1,000,000 | Funding in 1 – 3 business days | No FICO check — uses Clover sales history | Apply → |
| Credibly | Best fast working capital for membership-funded studios | $5K – $600K | As fast as 4 hours | 550+ | Apply → |
| Greenbox Capital | Best for credit-recovering studio operators (500+) | $5K – $250K (MCA); other products vary | 24 – 48 hours | Flexible — accepts down to 500 on some programs | Apply → |
| Live Oak Bank | Best SBA 7(a) for studio build-out and second-location expansion | $25,000 – $25,000,000+ | 30 – 90 days underwriting (SBA standard) | 680+ typical | Apply → |
| Currency Capital | Best for Reformer fleets and cycling-bike inventory financing | $10,000 – $2,000,000 | Funding in 24 – 72 hours after approval | 600+ | Apply → |
Advertiser disclosure: Fundnode may earn referral fees from funders listed on this page when you apply through us. This does not affect editorial rankings — see our methodology.
Detailed reviews — our 6 picks
#1 · Best for Square-using fitness studios
Square Capital
Max amount
$250,000
Cost
Single fixed fee (typically 10 – 16% of loan amount)
Speed
Funds as soon as next business day
Min credit
No FICO pull — Square underwrites entirely against your Square sales history
Why we picked it
Many small boutique studios run Square for retail (apparel, supplements) and complementary booking. Pre-qualified offers in the Square dashboard. No FICO check. Single fee 5-14% priced off Square processing volume. Fast deposit. Best first option when studio retail sales are meaningful and run through Square — strips out application friction entirely.
The strength
Most merchant-friendly headline structure in the industry: one fixed fee, no APR equivalents, no daily/weekly debits — repayment is a flat percentage of daily Square card sales until paid off. Eligibility check appears in your Square dashboard with no application. Approval typically arrives in minutes.
The watch-out
Square chooses who they offer to — you can't apply if Square doesn't surface an offer. Loan amount usually caps at ~1.4× monthly Square sales. The single fixed fee on a 9-month payback typically works out to 30–60% APR-equivalent, similar to mid-tier MCA. Only available to active Square sellers — if you stop processing, repayment converts to fixed daily debits.
Qualifications
12 months
$10,000+ in Square card sales typical floor for meaningful offers
No FICO pull — Square underwrites entirely against your Square sales history
#2 · Best for Clover-using fitness studios
Clover Capital (Fiserv)
Max amount
$1,000,000
Cost
Single fixed fee disclosed at offer (10 – 16%)
Speed
Funding in 1 – 3 business days
Min credit
No FICO check — uses Clover sales history
Why we picked it
Clover is common in studios that combine retail (apparel, supplements, juice bar) alongside class revenue. Pre-qualified offers in the Clover dashboard. Single-fee structure, fast deposit, no FICO check. Useful for studios that want capital without leaving the POS they already use.
The strength
Embedded in Clover dashboard (Fiserv-owned POS platform). Single fee structure like Square Capital. Repayment as percentage of daily Clover card sales. Strong fit for Clover-equipped restaurants, retail, salons.
The watch-out
Only available to Clover POS merchants. Eligibility controlled by Clover/Fiserv — can't apply. Less brand recognition than Toast Capital or Square Capital.
Qualifications
6 months
Clover processing volume drives offers
No FICO check — uses Clover sales history
#3 · Best fast working capital for membership-funded studios
Credibly
Max amount
$600K
Cost
Factor 1.11+ (MCA)
Speed
As fast as 4 hours
Min credit
550+
Why we picked it
Best generalist MCA when a studio has consistent monthly-membership ACH revenue ($15K+/mo). 550+ credit, 6+ months TIB. Funds in as fast as 4 hours. Multi-product (MCA + LOC + term) covers instructor payroll bridges, marketing pushes ahead of New Year membership campaigns, or equipment refreshes that don't justify standalone equipment financing.
The strength
March 2026 API V2 + Cloudsquare integration — most modern submission UX in MCA. $3B+ deployed, 60K+ SMBs. Publishes factor rates honestly (starting 1.11 for A-paper).
The watch-out
The 1.11 headline is the A-paper floor; average factor is closer to 1.32. ISO commission terms aren't public.
Qualifications
6 months
$15,000
550+
#4 · Best for credit-recovering studio operators (500+)
Greenbox Capital
Max amount
$250K (MCA); other products vary
Cost
Factor varies
Speed
24 – 48 hours
Min credit
Flexible — accepts down to 500 on some programs
Why we picked it
Lowest published credit floor among generalist MCAs that fund fitness. Many independent studios took a credit hit during 2020-2022 closures and rebuilt revenue faster than credit. Greenbox will fund single-location studios at lower revenue thresholds than most competitors. Published ISO commission caps bound broker markup.
The strength
Five products under one roof: MCA, invoice factoring, equipment financing, collateral loans, LOC. White-label contracts let brokers run the deal under their own brand. Priority 1 status for new ISOs.
The watch-out
$250K MCA cap is below competitors. Marketing tilts broker-friendly more than merchant-transparent.
Qualifications
6 months
$15,000
Flexible — accepts down to 500 on some programs
#5 · Best SBA 7(a) for studio build-out and second-location expansion
Live Oak Bank
Max amount
$25,000,000+
Cost
SBA 7(a) APR prime + 2.75% to 4.75%
Speed
30 – 90 days underwriting (SBA standard)
Min credit
680+ typical
Why we picked it
Boutique fitness build-out and franchise (Club Pilates, Pure Barre, CycleBar, F45) acquisition are well-trafficked SBA 7(a) categories. Live Oak funds these routinely. $150K-$1M typical. Prime + 2.75-4.75% APR. 10-year term. Wrap Reformers, bikes, flooring, mirrors, AV, and working capital into a single SBA package — dramatically cheaper than MCA on any deal over $150K. 60-90 day timeline.
The strength
Largest SBA 7(a) lender in the US by dollar volume for 7+ consecutive years. Industry-specialty teams (veterinary, dental, funeral homes, self-storage, agriculture, hotels). Deep understanding of niche-vertical underwriting. Dramatically cheaper than MCA for qualifying merchants.
The watch-out
Long underwriting timeline (45-90 days typical). Requires strong credit (680+), 2+ years operating, clean financials. Industries outside their specialty get less attention.
Qualifications
24 months
$20,000+
680+ typical
#6 · Best for Reformer fleets and cycling-bike inventory financing
Currency Capital
Max amount
$2,000,000
Cost
APR 8 – 22% (varies by equipment + credit)
Speed
Funding in 24 – 72 hours after approval
Min credit
600+
Why we picked it
Strong commercial equipment financing for Pilates Reformers ($3K-$10K each, $40K-$120K for a full studio fleet), Peloton-style cycling bikes ($1,200-$2,500 each), Concept2 rowers, and Rogue rigs. APR 8-22% with the equipment as collateral, dramatically cheaper than MCA for $30K+ equipment buys. Section 179 friendly. Best path when refreshing equipment outside of an SBA build-out cycle.
The strength
Equipment-specific financing with strong tech platform. Online application, fast approval. Equipment serves as collateral — lower rates than unsecured MCA equivalents. Strong industries: trucking, construction, manufacturing.
The watch-out
Equipment-only — financed funds must be used for specific equipment purchase. Equipment-as-collateral means default risks the equipment.
Qualifications
6 months
$10,000+
600+
Frequently asked questions
- How do I finance a full Pilates Reformer studio build-out?
- If the total build-out (Reformers + flooring + mirrors + AV + build-out cost) is over $150K, wrap it into an SBA 7(a) via Live Oak — prime + 2.75-4.75% APR over 10 years is structurally cheaper than any MCA or standalone equipment financing combo. Below $150K or when speed matters, Currency Capital for Reformer-only financing at APR 10-18% with the Reformers as collateral. Avoid funding a build-out purely on MCA — the daily/weekly remit will choke a pre-revenue or ramp-stage studio.
- Can a studio qualify for an MCA on Mindbody and ClassPass revenue?
- Yes, and the recurring-billing model actually helps — generalist MCAs (Credibly, Forward Financing, Greenbox) underwrite primarily off bank-statement deposit patterns. Recurring Mindbody ACH and ClassPass payouts look identical to subscription revenue. $15K+/mo in verifiable deposits, 6+ months operating, 550+ credit gets approved. ClassPass concentration can be a flag if it's over 50% of revenue — diversify membership and drop-in mix before applying.
- Should I open a second studio location on SBA or wait and self-fund?
- If the first location is at 75%+ class utilization and has been profitable 12+ months, SBA 7(a) via Live Oak is the right path — $150K-$500K typical for a second-location build-out wrapped with equipment and working capital, prime + 2.75-4.75% APR over 10 years. Self-funding off the first location's cash flow is structurally slower and exposes the original studio to the second's ramp risk. SBA isolates the new-location risk to that loan.
- What revenue do I need to qualify as a fitness studio?
- Square Capital / Clover Capital: based on POS-processed volume (typically $5K+/mo POS volume opens pre-qualified offers). Credibly MCA: $15K+/mo, 6+ months TIB, 550+ credit. Greenbox MCA: $10K+/mo with 500+ credit. Currency equipment financing: revenue-flexible (the equipment is collateral) — 6+ months operating, 600+ credit. Live Oak SBA: $25K+/mo and 680+ credit for a $150K+ build-out. Match yourself at /match.
Related reading
- Best MCA funders for fitness gyms 2026
- Best MCA funders for yoga studios 2026
- Best MCA funders for fitness instructors 2026
- Best equipment financing 2026
- The full 2026 ranking — 100 funders
Methodology
How we chose
Ranking criteria
- Use-case fit — funder must qualify the merchant profile this page targets (credit, time-in-business, revenue, industry).
- Pricing transparency — published factor-rate or APR-equivalent disclosure outweighs marketing-only quotes.
- Speed-to-fund — verified time from signed contract to ACH deposit, not 'as fast as' marketing claims.
- Contract terms — daily/weekly debit structure, prepayment treatment, COJ / personal guarantee posture.
- Customer-experience signals — BBB profile, Trustpilot, ISO chatter, and direct merchant feedback collected via Fundnode applications.
Sources consulted
- Funder-published rate cards, contract templates, and disclosure pages (refreshed quarterly).
- Public regulatory filings — California DFPI commercial-financing disclosures, New York commercial-financing disclosure law filings.
- Direct merchant feedback collected through Fundnode's /qualify funnel (n > 200 since 2026-01).
- ISO desk operator interviews — anonymized commentary on approval patterns and stipulations.
Update cadence
Reviewed quarterly. Last updated 2026-06-24.
Conflict of interest
Fundnode may earn referral fees from funders listed on this page when merchants apply through us. Rankings are editorial and independent of fee economics — funders cannot pay for placement.