Loan to Buy Medicap Pharmacy Franchise Issued By Valley National Bank
Borrowing money to invest in a Medicap Pharmacy franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Stevens, Pennsylvania needed money to invest in a Medicap Pharmacy franchise back in 2003. Valley National Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
MEDICAP PHARMACY
STEVENS, PA 17578
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
446110 - Pharmacies and Drug Stores
Loan Approval Date
3/21/2003
Loan Approval Gross Amount
$196,500
Loan Approval from the SBA
Of the total $196,500 loan amount, the SBA guaranteed $147,375.
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. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Valley National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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