Magnolia Medshoppe LLC
Magnolia Medshoppe LLC is a pharmacy and drug retailer located in Columbia, Mississippi, classified under NAICS code 456110. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.62 million, approved on November 4, 2024 through First Financial Bank.
SBA 7(a) loan, change of ownership, approved Nov 4, 2024
$1,620,000 approvedLender: First Financial Bank12 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,620,000
- SBA-guaranteed amount
- $1,215,000 (75% of the approval)
- Lender
- First Financial Bank, El Dorado, AR
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 12 years (144 months)
- Estimated maturity
- November 4, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $19,127 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 456110, Pharmacies and Drug Retailers
- Project location
- Marion County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 60% 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 Mississippi: $1,688,600.
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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