Grimes, IA Entrepreneur Gets SBA Loan to Buy Medicap Pharmacy Franchise

Need money to invest in a Medicap Pharmacy franchise? Charter Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Grimes, Iowa and are interested in buying a Medicap Pharmacy franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Charter Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MEDICAP PHARMACY
GRIMES, IA 50111

SBA Loan Lender

CHARTER BANK
5526 NW 86TH ST
JOHNSTON, IA 50131

This small business 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

8/16/2001

Loan Approval Gross Amount

$171,500

Loan Approval from the SBA

Of the total $171,500 loan amount, the SBA guaranteed $128,625.

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 documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $171,500. How would you spend $171,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

Advice on Getting a Small Business Loan

SBA 7A Lenders in Johnston, Iowa

Iowa SBA 7A Lenders