Building Business Muscle with 24e

Wayne Alford, founder of 24e, was in medical sales prior to his venture to create 24e when one of his favorite gyms closed. While at first this was a disappointment, he also recognized it as an opportunity to buy the old equipment and lease a space in Hoover to start 24e. When talking to Adam Galey, the financial controller for the company, he talked of just how rewarding it was working with Wayne. Especially watching people improve their health and live healthier lives and to build this sense of a gym community. When Wayne decided he wanted to expand the company, a local bank recommended he partner with Alliance Capital Corporation to explore the option of an SBA loan.

While Wayne’s first loan was to help him gain the capital to expand, later loans allowed him to perform renovations and to purchase new equipment. Adam talked of how a competitor came into town and before they could even move in, Alliance Capital was able to help them obtain the loan they needed to upgrade their facilities. He went on to say: “The Alliance Capital team streamlined the process in a way to make everything faster and easier.” Adam explained that the average time it took Sam to get the loans they needed typically only took a couple of months and that most of the idle wait time was gathering final cost documents. Adam also mentioned that the ease of the entire process that Sam and his team provided was a highlight. They kept it simple, kept track of all the information, and helped with sorting through the legal and financial documents. As well as mentioning if there was ever a hiccup, Alliance was already on top of the situation and helping them through every step. “Everyone who asks who we worked with; we give them Sam’s name without hesitation due to his experience throughout the process. I do not think that there is anyone in the area who can compete with the quality of service that Sam and his team provide.”

24e is a prime example of a small business on the rise. During the 2020 Pandemic when they were shut down, the 24e team decided to go all in and upgrade their clubs as a team. They did some renovations together to make their gyms even better for when things reopened. On top of the loans and expansions that 24e has already undergone, they are looking to do even more! Adam and Wayne have already reached out to Alliance Capital to look into another loan to build a new Gardendale facility to replace their existing location. While the current facility is 24e’s smallest location it also has the second highest member base. They are looking at doing a 504-construction loan to provide a new facility slated to be more than five times the size of its current location. We are excited to watch Wayne and his team continue to grow their businesses and help their clients get stronger!

Alliance is ready to come alongside you in your business journey. Give us a call at (205) 982-7900 and let us show you the difference having the right ALLIANCE can have on your success.