How to Get a Loan for Pharmacies and Drug Stores

With these commercial loans for pharmacies and drug stores, the SBA guarantees the lender that the loan will be repaid. This pharmacies and drug stores loan for $436,000 was given to a Texas entrepreneur in 2006.

J&j Henderson, Inc. Dba Lamar Plaza Drug S knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Compass Bank, based in Birmingham, Alabama.

SBA Loan Borrower

J&J Henderson, Inc. dba Lamar Plaza Drug S
1132 S. Lamar
Austin, TX 78704

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$436,000

Loan Approval from the SBA

Of the total $436,000 loan amount, the SBA guaranteed $327,000.

More Information on This SBA Loan

The borrower, J&j Henderson, Inc. Dba Lamar Plaza Drug S, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Getting an SBA Loan For Your Business

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Raising Venture Capital

SBA Approved Banks in Birmingham, Alabama

Getting an SBA Loan in Alabama

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.