Loan to Buy Medicine Shoppe Franchise Issued By Camden National Bank

Need money to invest in a Medicine Shoppe franchise? Camden National Bank has a history of making these loans and they are guaranteed by the SBA.

Medicine Shoppe franchise loans are available to Lewiston, Maine entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Camden National Bank, based in Bangor, Maine, issued an SBA franchise loan for a Medicine Shoppe franchise in 2006. We've got all the details on this Maine small business loan.

SBA Loan Borrower

THE MEDICINE SHOPPE
LEWISTON, ME 04240

SBA Loan Lender

CAMDEN NATIONAL BANK
145 EXCHANGE ST
BANGOR, ME 04401

This debt financing 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

7/21/2006

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

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 15 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Camden National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Camden National 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.

Related Links:

Medicine Shoppe International, Inc.

Obtaining Funding - Getting Venture Capital

Small Business Banks in Bangor, Maine

SBA Participating Banks in Maine