Borrow Money to Buy a Medicap Pharmacy Franchise

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

If you live near Cedar Rapids, 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 2005 by Fairfax State Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GRABE PHARMACIES INC
CEDAR RAPIDS, IA 52351

SBA Loan Lender

FAIRFAX STATE SAVINGS BANK
409 VANDERBILT
FAIRFAX, IA 52228

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $112,500.

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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $225,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

Advice on Getting a Small Business Loan

SBA 7A Lenders in Fairfax, Iowa

SBA Iowa Lenders