Iowa Entrepreneur Secures Financing to Buy Medicap Pharmacy Franchise

Borrowing money to invest in a Medicap Pharmacy franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

If you live near Adel, Iowa and are interested in buying a Medicap Pharmacy franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Bank Of The West. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MEDICAP PHARMACY
ADEL, IA 50003

SBA Loan Lender

BANK OF THE WEST
5500 WESTOWN PKWY, STE 120
WEST DES MOINES, IA 50266

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

8/3/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Medicap Pharmacy franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, things become real when you believe you can achieve them!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Medicap Pharmacies, Inc.

Alternative Financing

SBA 7A Banks for West Des Moines, Iowa Loans

Iowa SBA Bank Lenders