SBA Loans Help Couple Build Community Through Fitness

Situation:

Helping others become better versions of themselves is something that comes naturally to Kirk and Amanda Hendrickson.  This is evidenced by both their current business, Iron Jungle CrossFit in Hutchinson, Minn., and by their previous work as youth ministers in the area.

When his dad died Kirk decided it was time to get more physically fit and joined a CrossFit gym. Discovering that his passion for helping others could be channeled in this way, he spoke with Amanda and they decided to jump into something new. Both come from families of entrepreneurs, so starting their own small business made a lot of sense to them. Deciding to move forward, the Hendricksons contacted SBA’s Microloan Program partner, Southwest Initiative Foundation (SWIF), for the technical assistance and capital needed to help start their business.

How the SBA and partners helped:

When the Hendricksons went to SWIF as a start-up business in 2014, they received a microloan that included technical assistance in financial management and marketing.  Three and a half years later, SWIF was again instrumental in helping them obtain financing for a new location.  SWIF also provided endorsements when the Hendricksons sought crowdfunding loans through Kiva. An additional SBA guaranteed loan through Prairieland Economic Development Corporation helped them move into and refurbish their new building early in 2018. 

Impact/Outcome:

When Iron Jungle Fitness opened in 2014, it had only 10 members. It now has 70 active participants. The gym’s programs deliver fitness that is, by design, broad, general and inclusive.  CrossFit is designed for universal scalability, for any committed individual, regardless of age or experience. 

With the help from SWIF and SBA guaranteed loans, the Hendricksons have built a solid business foundation in a new location with the space to provide even more small group-based personal training, mobility and nutrition guidance, and an environment to build a healthier community in southwest Minnesota.