Lincoln, NE Entrepreneur Gets SBA Loan to Buy Medicap Pharmacy Franchise

Borrowing money to invest in a Medicap Pharmacy franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Lincoln, Nebraska needed money to invest in a Medicap Pharmacy franchise back in 2007. Stearns Bank issued an SBA franchise loan. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

MEDICAP PHARMACY
LINCOLN, NE 68521

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

8/15/2007

Loan Approval Gross Amount

$466,300

Loan Approval from the SBA

Of the total $466,300 loan amount, the SBA guaranteed $349,725.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Medicap Pharmacy franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Medicap Pharmacies, Inc.

Microlending as a Small Business Funding Source

SBA Participating Banks in Saint Cloud, Minnesota

SBA Minnesota Lenders