FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


Fintech Startup LeaseQ Helps Former NFL Player Expand Fitness Venture

January 29, 2016, 07:17 AM
Filed Under: Fitness

LeaseQ 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.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.