Kettering, OH Entrepreneur Gets SBA Loan to Buy Medicine Shoppe Franchise

Need a loan to purchase a Medicine Shoppe franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Medicine Shoppe franchise may simply require a phone call to a local SBA banker. In 2002, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Kettering, Ohio. Because Medicine Shoppe was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

THE MEDICINE SHOPPE
KETTERING, OH 45429

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

This 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

9/20/2002

Loan Approval Gross Amount

$350,850

Loan Approval from the SBA

Of the total $350,850 loan amount, the SBA guaranteed $263,138.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Medicine Shoppe franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Fifth Third 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.

Related Links:

Medicine Shoppe International, Inc.

SBIR Funding

SBA 7A Banks in Cincinnati, Ohio

Find an SBA Lender in Ohio