Where to Get Capital for Pharmacies and Drug Stores

With these SBA loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $115,000 was given to an Alabama entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Pelham, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Central State Bank, based in Calera, Alabama.

SBA Loan Borrower

COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
PELHAM, AL 35124

SBA Loan Lender

CENTRAL STATE BANK
11025 HWY 25
CALERA, AL 35040

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

4/13/2001

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Central State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 - Getting Venture Capital

Find an SBA Lender in Calera, Alabama

SBA Participating Banks in Alabama