Borrow Money to Buy a Medicap Pharmacy Franchise

Need a loan to purchase a Medicap Pharmacy franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Medicap Pharmacy franchise? If so, here's a 2004 SBA franchise loan that you should know about. Stearns Bank was the lender and the entrepreneur was based in Olyphant, Pennsylvania.

SBA Loan Borrower

MEDICAP PHARMACY
OLYPHANT, PA 18447

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

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

12/29/2004

Loan Approval Gross Amount

$254,000

Loan Approval from the SBA

Of the total $254,000 loan amount, the SBA guaranteed $190,500.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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