What to Do When More Financing is Needed


The truth is that a pharmacy is a huge undertaking. This is especially true when the business is independent. Three years in and they had their first real need for financing. They wanted to expand to be able to compete with the national chains and were going to need about $400,000 to do it.

Deciding on the Right Financing


They needed a long payback period and there was really no immediate urgency for funding. So they decided an SBA loan was the best fit for them. And they both had great credit, 2 years of profitability and a strong business expansion plan so they thought they’d be a great candidate for approval.

Getting Approved


They were right. Their application was eventually approved and they received funds in 90 days. They immediately set their expansion plans in motion and are now one of the busiest pharmacies in the state. They both say that it would never have been possible without their SBA loan.



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