Borrowing Money for Pharmacies and Drug Stores

Looking for bank loans for pharmacies and drug stores? The SBA may be the answer. This $53,800 pharmacies and drug stores loan was issued by an Iowa bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Iowa, out of Shenandoah, Iowa. The loan was granted and they received $53,800 to help grow their Shenandoah, Iowa business.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
SHENANDOAH, IA 51601

SBA Loan Lender

BANK IOWA
701 W SHERIDAN
SHENANDOAH, IA 51601

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.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

3/20/2003

Loan Approval Gross Amount

$53,800

Loan Approval from the SBA

Of the total $53,800 loan amount, the SBA guaranteed $45,730.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Iowa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Iowa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Borrowing Money for Pharmacies and Drug Stores