From Banking to Business Innovation

Like many young people, David Galvez had a dream of what he wanted to be when he grew up. But unlike kids who aspired to be famous pop stars, athletes, or astronauts, David had a different vision—he wanted to be a banker. That’s right—banking and finance were his passion from the start.

Throughout his career, David has noticed a common theme among his peers in the banking industry. At industry events, the conversation often turns to how they ended up in finance. Most stumbled into it by chance rather than by design. But for David, banking wasn’t an accident—it was always the plan.

With a career spanning over two decades, primarily at Citizens Business Bank, David has spent years helping entrepreneurs secure funding for their businesses. Now, he finds himself on the other side of the table, launching his own venture.

A Gym Frustration Sparks an Idea

Beyond finance, David is committed to his physical well-being, making regular workouts a part of his weekly routine. And like any gym-goer, he knows the annoyance of dealing with a sweaty towel—constantly dropping it on the floor, not having a convenient place to put it, or struggling to keep it within reach.

The idea for his new business struck him a few years ago while working out at a friend’s garage gym.

“My friend, a trainer on the side, started a small gym in his garage,” David recalled. “I hated how my towel kept falling on the floor or how I had to place it somewhere inconvenient. I looked around at all the metal equipment and thought, ‘Wouldn’t it be great if I could just stick my towel to these machines or even to the garage door?’ That’s when it clicked.”

And just like that, MagneFit Sports was born.

The Magnetic Gym Towel

David and his wife launched MagnetFit Sports with a vision to solve the everyday gym towel struggle. Their flagship product is a gym towel equipped with a removable magnet—designed to easily attach to metal surfaces like workout machines, lockers, and even garage doors.

While magnetic gym towels already exist, David saw a major flaw in existing designs.

“Most other towels have magnets that aren’t removable, meaning they can’t be machine washed or dried. They’re hand-wash only,” he explained. “Other designs use bulky, hard-to-remove magnets. So, my design team and I created a simple solution—a button-like magnet that snaps on and off the towel effortlessly. Since nothing like it was available on the market, we applied for a design patent, and we’re currently in ‘patent pending’ status.”

Gaining Momentum

MagneFit Sports recently launched and is actively building brand awareness on social media while expanding into wholesale and white-label opportunities.

“Less than a month in, we reached out to a national fitness equipment company, and they were immediately interested,” David said. “Once they got their hands on our towel, they saw how well it worked with their machines. They placed a custom order with their company’s logo, making them our first commercial client.”

Shortly after, a local company ordered the towels for their employee wellness program, incorporating them into upcoming wellness seminar gift baskets.

Looking Ahead

So far, MagneFit has been self-funded, but David acknowledges that could change if large retailers, such as sporting goods stores or big-box chains, start placing large orders.

“It’ll be a great problem to have when we get there,” he said with a smile. “And luckily, I know a few people in the banking business.”