Main Street Registry

Friendly City Pharmacy on 2nd

Tifton, GA · Pharmacies and Drug Retailers · NAICS 456110

Friendly City Pharmacy on 2nd, located in Tifton, Georgia, operates in the pharmacies and drug retailers industry (NAICS 456110). The business was financed with an SBA 7(a) loan for a change of ownership of $1.6 million, approved on March 8, 2024 by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Mar 8, 2024

$1,600,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,600,000
SBA-guaranteed amount
$1,200,000 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.35%, variable
Term
10 years (120 months)
Estimated maturity
March 8, 2034 (estimated, approval date plus term)
Estimated monthly payment
$21,455 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 4, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
456110, Pharmacies and Drug Retailers
Project location
Tift County, GA
SBA district office
Georgia District Office
Congressional district
GA-08
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 57% of acquisition loans in Pharmacies and Drug Retailers on this site.
  • Average acquisition loan in Pharmacies and Drug Retailers: $1,715,134.
  • Average acquisition loan in Georgia: $2,017,638.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Georgia