Raising Money for Pharmacies and Drug Stores

With these business loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $680,000 was given to a New Jersey entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newark, New Jersey was able to borrow $680,000 from Columbia Bank. The SBA made the loan possible by guaranteeing $510,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
NEWARK, NJ 07104

SBA Loan Lender

COLUMBIA BANK
RTE 4 EAST, STE 304, BERGEN M
PARAMUS, NJ 07652

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

7/9/2003

Loan Approval Gross Amount

$680,000

Loan Approval from the SBA

Of the total $680,000 loan amount, the SBA guaranteed $510,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Newark 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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Paramus, New Jersey

Getting an SBA Loan in New Jersey