Des Moines, IA Entrepreneur Gets SBA Loan to Buy Medicap Pharmacy Franchise

Need money to buy a Medicap Pharmacy franchise? First American Bank has a history of making these loans and they are guaranteed by the SBA.

Medicap Pharmacy franchise loans are available to Des Moines, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First American Bank, based in Fort Dodge, Iowa, issued an SBA franchise loan for a Medicap Pharmacy franchise in 2003. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

MEDICAP PHARMACY
DES MOINES, IA 50310

SBA Loan Lender

FIRST AMERICAN BANK
1207 CENTRAL AVE
FORT DODGE, IA 50501

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

7/8/2003

Loan Approval Gross Amount

$209,600

Loan Approval from the SBA

Of the total $209,600 loan amount, the SBA guaranteed $157,200.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

VC Firms on Twitter

Who Lends Money to Small Businesses in Fort Dodge, Iowa

Browse All Business Loan Sources for Iowa