Where to Get Capital for Pharmacies and Drug Stores

With these small business loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $805,000 was given to a Michigan entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with United Bank Of Michigan, out of Grand Rapids, Michigan. The loan was granted and they received $805,000 to help grow their Wayland, Michigan business.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
WAYLAND, MI 49348

SBA Loan Lender

UNITED BANK OF MICHIGAN
900 E PARIS AVE SE
GRAND RAPIDS, MI 49546

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

11/28/2006

Loan Approval Gross Amount

$805,000

Loan Approval from the SBA

Of the total $805,000 loan amount, the SBA guaranteed $603,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

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

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

This SBA loan was for $805,000. How would you spend $805,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Borrowing Money from Friends and Family

SBA Banks in Grand Rapids, Michigan

SBA Lenders in Michigan