Mandan, ND Entrepreneur Gets SBA Loan to Buy Medicine Shoppe Franchise

Need money to buy a Medicine Shoppe franchise? Starion Financial has a history of making these loans and they are guaranteed by the SBA.

If you live near Mandan, North Dakota and are interested in buying a Medicine Shoppe franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Starion Financial. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LBG PHARMACY, INC.
MANDAN, ND 58554

SBA Loan Lender

STARION FINANCIAL
333 N 4TH
BISMARCK, ND 58501

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5912 - Drug Stores and Proprietary Stores

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$620,000

Loan Approval from the SBA

Of the total $620,000 loan amount, the SBA guaranteed $465,000.

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 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Starion Financial so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Bismarck, North Dakota

SBA Lenders in North Dakota