Borrow Money to Buy a Medicine Shoppe Franchise

Need money to buy a Medicine Shoppe franchise? First New Mexico Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Deming, New Mexico and are interested in buying a Medicine Shoppe franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by First New Mexico Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MEDICINE SHOPPE #1801
DEMING, NM 88030

SBA Loan Lender

FIRST NEW MEXICO BANK
300 S GOLD
DEMING, NM 88030

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business 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

12/5/2003

Loan Approval Gross Amount

$392,000

Loan Approval from the SBA

Of the total $392,000 loan amount, the SBA guaranteed $294,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Medicine Shoppe franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 First New Mexico Bank 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:

Medicine Shoppe International, Inc.

Determining Proper Capital Structure for a Business

SBA 7A Banks in Deming, New Mexico

Getting an SBA Loan in New Mexico