Loans for Pharmacies and Drug Stores

With these loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $1,300,000 was given to a Connecticut entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bethel, Connecticut was able to borrow $1,300,000 from Fairfield County Bank Corp. The SBA made the loan possible by guaranteeing $975,000 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
BETHEL, CT 06801

SBA Loan Lender

FAIRFIELD COUNTY BANK CORP
150 DANBURY RD
RIDGEFIELD, CT 06877

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

8/3/2005

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Understanding Dilution

SBA Approved Banks in Ridgefield, Connecticut

Getting an SBA Loan in Connecticut