Getting an SBA Loan for Pharmacies and Drug Stores

Looking for business loans for pharmacies and drug stores? The SBA may be the answer. This $700,000 pharmacies and drug stores loan was issued by a New York bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Manufacturers & Traders Trust, out of Binghamton, New York. The loan was granted and they received $700,000 to help grow their Binghamton, New York business.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
BINGHAMTON, NY 13905

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
58-68 EXCHANGE ST
BINGHAMTON, NY 13901

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

2/10/2006

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

SBA 7A Lenders in Binghamton, New York

New York SBA 7A Banks