Financing for independent pharmacies
An independent pharmacy competes on service, stock and proximity while waiting on payer reimbursement. We help you explore capital to carry that operation, or financing to buy the store.
GROW™ — capital for your next stage
GROW™: up to $350,000, up to 10-year terms, no prepayment penalty and no specific personal collateral required.
What owners typically invest in
- Medication inventory and stock
- Dispensing and billing systems
- Clinical services and immunization
- Front-of-store improvements
- Working capital while reimbursement arrives
OWN™ — buy the building where you operate
A pharmacy lives on being found: patients return to the same place every month. The dispensing area, security and controlled storage build-out stay with the building. Owning it protects the location and steadies cost against margins that are already thin.
What lenders typically review
Lenders usually review how long the business has operated, its cash flow, the owners’ credit and margin per prescription and the reimbursement cycle. For GROW™, reference guidelines include three or more years in operation, a personal FICO of 650 or above, a minimum SBSS score of 165, personal and business debts current, repayment capacity with a minimum DSCR of 1.25x and no bankruptcy in the last seven years. GROW™ does not require specific personal collateral, though limited business collateral requirements may apply. To buy the property through OWN™, your business must occupy most of the building.
Frequently asked questions
Does capital help with the reimbursement cycle?
Yes, working capital is contemplated to carry inventory while payer reimbursement arrives.
Can I buy the store I rent?
In many cases, yes, if your pharmacy occupies most of the property, with amounts up to $5 million or more.
Is buying another pharmacy considered?
Eligible business acquisitions are considered in specific industries. We review it before the file goes out.
Is there a prepayment penalty?
No. GROW\u2122 has no prepayment penalty.
Related uses of capital
Every rent payment builds your landlord's equity. With owner-occupied SBA financing, you can buy the building you rent today and turn that monthly payment into an asset you own.
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Buying a business that already works gives you customers, staff and cash flow from day one. SBA financing can cover the acquisition and, when it applies, the building too.
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The right equipment lets you serve more customers, work faster and offer new services. With working capital you can invest in it without draining your operating account.
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Find out what your business may qualify for
Answer a few questions and an advisor will review your case, with no obligation.
All financing is subject to approval, financial analysis and lender terms.