Loan to Buy Medicap Pharmacy Franchise Issued By The Frost National Bank

Need a loan to buy a Medicap Pharmacy franchise? The Frost National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mcallen, Texas needed money to invest in a Medicap Pharmacy franchise back in 2003. The Frost National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

M & G MEDPHARM, INC.
MCALLEN, TX 78501

SBA Loan Lender

THE FROST NATIONAL BANK
809 MAIN ST
ALAMO, TX 78516

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

4/21/2003

Loan Approval Gross Amount

$388,000

Loan Approval from the SBA

Of the total $388,000 loan amount, the SBA guaranteed $291,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Medicap Pharmacy franchise. At the time of the loan, the company had 17 employees. The SBA loan documents indicated that the loan would help create 4 new jobs.

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

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Frost National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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