Pharmacies and Drug Stores Commercial Loans

With these commercial loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $903,000 was given to a Nevada entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Borrego Springs Bank, out of Borrego Springs, California. The loan was granted and they received $903,000 to help grow their Incline Village, Nevada business.

SBA Loan Borrower

COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
INCLINE VILLAGE, NV 89450

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

3/8/2001

Loan Approval Gross Amount

$903,000

Loan Approval from the SBA

Of the total $903,000 loan amount, the SBA guaranteed $677,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Borrego Springs Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Borrego Springs Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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