Where to Get Capital for Pharmacies and Drug Stores

Looking for small business loans for pharmacies and drug stores? Talk to a banker who works with the SBA. This $490,000 pharmacies and drug stores loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Iowa City, Iowa was able to borrow $490,000 from Iowa St. Bank & Trust. The SBA made the loan possible by guaranteeing $367,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
IOWA CITY, IA 52245

SBA Loan Lender

IOWA ST. BANK & TRUST
102 S CLINTON ST
IOWA CITY, IA 52240

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

11/22/2005

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Iowa St. Bank & Trust 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:

Business Line of Credit

Small Business Banks in Iowa City, Iowa

SBA Iowa Lenders