Borrow Money to Buy a Medicap Pharmacy Franchise

Need a loan to buy a Medicap Pharmacy franchise? First-Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Medicap Pharmacy franchise? If so, here's a 2003 SBA franchise loan that you should know about. First-Citizens Bank & Trust was the lender and the entrepreneur was based in Concord, North Carolina.

SBA Loan Borrower

MEDICAL PHARMACY
CONCORD, NC 28027

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

9/24/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Medicap Pharmacy franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Concord NC, you ought to talk with a local Concord SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Concord businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First-Citizens Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First-Citizens Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Dealing With Venture Capitalists

Small Bank Loans in Raleigh, North Carolina

Getting an SBA Loan in North Carolina