First-Citizens Bank & Trust Provides SBA Loan to Buy Medicap Pharmacy Franchise

Borrowing money to buy a Medicap Pharmacy franchise? First-Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Medicap Pharmacy franchise shouldn't be overly burdensome. In 2000, First-Citizens Bank & Trust issued an SBA franchise loan to an entrepreneur in New Bern, North Carolina. Because Medicap Pharmacy was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

MEDICAP PHARMACY
NEW BERN, NC 28560

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
100 E TRYON RD
RALEIGH, NC 27603

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

8/15/2000

Loan Approval Gross Amount

$163,000

Loan Approval from the SBA

Of the total $163,000 loan amount, the SBA guaranteed $122,250.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours 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.

Banking Deregulation's Effects on Entrepreneurship

SBA Participating Banks in Raleigh, North Carolina

Where to Get an SBA Loan North Carolina