Where to Get Capital for Pharmacies and Drug Stores

Looking for SBA loans for pharmacies and drug stores? Talk to a banker who works with the SBA. This $388,000 pharmacies and drug stores loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Gardena, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Inland Commun Bank, based in Duarte, California.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
GARDENA, CA 90247

SBA Loan Lender

INLAND COMMUN BANK
1801 HUNTINGTON DR
DUARTE, CA 91010

This commercial 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.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$388,000

Loan Approval from the SBA

Of the total $388,000 loan amount, the SBA guaranteed $291,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Inland Commun 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.

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