Loan to Buy Medicine Shoppe Franchise Issued By Camden National Bank

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

An entrepreneur in Lewiston, Maine needed money to invest in a Medicine Shoppe franchise back in 2006. Camden National Bank issued an SBA franchise loan. Here are 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

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

7/25/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Medicine Shoppe franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Camden National Bank 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:

Medicine Shoppe International, Inc.

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Small Bank Loans in Bangor, Maine

SBA Lenders in Maine