National City Bank Provides SBA Loan to Buy Medicine Shoppe Franchise

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

Want to borrow money to buy a Medicine Shoppe franchise? If so, here's a 2000 SBA franchise loan that you should know about. National City Bank was the lender and the entrepreneur was based in Meadville, Pennsylvania.

SBA Loan Borrower

THE MEDICINE SHOPPE
MEADVILLE, PA 16335

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This lender provides SBA bank loans 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.

SIC Code

5912 - Drug Stores and Proprietary Stores

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

4/4/2000

Loan Approval Gross Amount

$570,000

Loan Approval from the SBA

Of the total $570,000 loan amount, the SBA guaranteed $427,500.

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 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Meadville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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