Broad Fit Financial announced its official launch as an equipment finance company dedicated to providing financing for businesses acquiring fitness equipment and related equipment. Providing equipment finance solutions for the health, wellness, and fitness industries, Broad Fit Financial will support the funding needs of businesses from large corporations to independent for-profit gyms.
“Broad Fit Financial is singularly focused on providing financing solutions that enable businesses in a variety of settings to acquire the fitness and related equipment necessary to offer wellness to their end users,” Stephanie Taylor, president and co-founder of Broad Fit Financial, said. “We recognize the unique financial challenges that businesses face when seeking to procure this type of collateral and have tailored our services to support these specific needs. We bring knowledge, experience and a commitment to supporting the fitness industry.”
According to Broad Fit Financial, the U.S. fitness industry is projected to generate more than $30.8 billion in revenue in the U.S. in 2023. Broad Fit Financial will provide access to the funds needed for fitness equipment acquisitions. The company will serve multiple markets, including include real estate developers, commercial office buildings, homeowner associations (HOAs), apartment communities, senior centers, hospitality centers, country clubs, nonprofits (YMCAs and JCCs), municipal entities (community, park and recreation centers), colleges and universities, professional sports facilities, corporate wellness programs, and traditional for-profit gyms.
“Broad Fit Financial is uniquely positioned to support the industry through our collective careers working in varied roles throughout the vendor, lender and end-user sides of the business,” Daniella Douglas, vice president and co-founder of Broad Fit Financial, said. “This invaluable insight provides us with a deep understanding of the challenges our partners face when it comes to equipment financing and how best to support them.”
Prior to forming the company, Taylor spent 16 years specializing in the sports, health and wellness industry while at Cybex and Macrolease. Although Broad Fit Financial was formed in May 2022, the founders spent a year establishing a customer serving infrastructure and the processes necessary to support client needs.
“We intentionally spent the time building a foundation focused on software, speed and applicable offerings,” Taylor said. “As a result, we were able to enter the market with impressive capabilities in terms of tech, capacity and ability to efficiently serve the fitness industry. Since our soft launch in June, we’ve quickly established ourselves as the go-to source of funding for roughly 50-plus equipment distributors throughout the U.S.”
