Pennsylvania Entrepreneur Secures Financing to Buy Medicap Pharmacy Franchise

Borrowing money to purchase a Medicap Pharmacy franchise? Ncb, Fsb has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Medicap Pharmacy franchise shouldn't be overly burdensome. In 2003, Ncb, Fsb issued an SBA franchise loan to an entrepreneur in Erie, Pennsylvania. Because Medicap Pharmacy was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

MEDICAP PHARMACY
ERIE, PA 16511

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the 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

4/23/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 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 loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Ncb, Fsb and they will explain how you can get an SBA loan for your company.

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.

Borrowing Money from Friends and Family

SBA 7A Banks in Hillsboro, Ohio

Ohio SBA Banks