Raising Money for Pharmacies and Drug Stores

With these business loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $24,169 was given to a Texas entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Paso, Texas was able to borrow $24,169 from Bank Of The West. The SBA made the loan possible by guaranteeing $20,544 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
EL PASO, TX 79912

SBA Loan Lender

BANK OF THE WEST
500 N MESA ST
EL PASO, TX 79901

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 to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5912 - Drug Stores and Proprietary Stores

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

1/29/2003

Loan Approval Gross Amount

$24,169

Loan Approval from the SBA

Of the total $24,169 loan amount, the SBA guaranteed $20,544.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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SBA Participating Banks in El Paso, Texas

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