ClubReady Partners with Cross River Bank to Launch Its Quickstart Paycheck Protection Program
ClubReady, the leading provider of full-suite studio fitness and wellness club management software, and Cross River Bank, a leading innovator and provider of banking services for technology companies, today announced a new partnership to offer quick access to Paycheck Protection Program (PPP) loans to its fitness studio customers. This program offers a fully integrated online application, underwriting approval and funding process that is 100% electronically enabled, expediting the fund flow from the bank to the studio, improving the chance of getting approved before the funds are depleted.
The $94 billion fitness industry has taken a brutal hit in a matter of weeks. Across the United States, virtually all studios have been mandated to close their doors. While some studios are pivoting to live-streaming classes, the financial impact is still palpable.
“This has been a devastating period for so many businesses, especially those in the fitness industry,” says Darol Lain, ClubReady President. “We know this is a temporary setback, and we want to partner with our customers to provide them with every resource possible to weather this storm and reopen with the financial and emotional momentum needed to be successful.”