Maryland Entrepreneur Secures Financing to Buy Medicine Shoppe Franchise

Need a loan to purchase a Medicine Shoppe franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Brooklyn, Maryland and are interested in buying a Medicine Shoppe franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Manufacturers & Traders Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

NOORI, LLC DBA MEDICINE SHOPPE PHARMACY
Brooklyn, MD 21225

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
305 W CHESAPEAKE AVE
TOWSON, MD 21204

This lender provides SBA commercial loans 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

9/24/2007

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Medicine Shoppe franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Medicine Shoppe International, Inc.

Attracting Investors

SBA 7A Banks in Towson, Maryland

SBA Maryland Banks