Where to Get Capital for Pharmacies and Drug Stores

Looking for SBA loans for pharmacies and drug stores? The SBA may be the answer. This $1,400,000 pharmacies and drug stores loan was issued by a West Virginia bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Commun Bank, out of Bluefield, West Virginia. The loan was granted and they received $1,400,000 to help grow their Peterstown, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
PETERSTOWN, WV 24963

SBA Loan Lender

FIRST COMMUN BANK
211 FEDERAL ST
BLUEFIELD, WV 24701

This bank 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

5/27/2005

Loan Approval Gross Amount

$1,400,000

Loan Approval from the SBA

Of the total $1,400,000 loan amount, the SBA guaranteed $1,050,000.

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 23 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Determining Proper Capital Structure for a Business

SBA 7A Banks for Bluefield, West Virginia Loans

West Virginia SBA 7A Lenders