$1,047,000 | SBA 7(a) Loan | Hurst, TX
A repeat CapitalSource client, Appling Enterprises, secured an SBA loan within 30 days, allowing them to expand pharmacy operations.
When presented with the opportunity to expand his business by purchasing the name and assets of Carrie Boyd’s Compounding Pharmacy—a Hurst, Texas pharmacy in operation for 45 years with a strong and loyal client base—pharmacist and owner of Denton Prescription Shop Rick Appling knew he had to take it.
Having secured financing through CapitalSource repeatedly over the past three years, Mr. Appling also knew to turn to CapitalSource—a firm committed to timely and efficient loan processing.
Starting out with firsthand knowledge of Mr. Appling’s positive loan history put us ahead of the curve. That coupled with the fact that Mr. Appling was purchasing a compound pharmacy similar to his already successful and proven compound operation, made offering Appling Enterprise a new loan easier and allowed us to move even more quickly. Conducting additional due diligence, where we learned about the strength behind Boyd’s Compounding name and its assets, made offering Appling Enterprise a highly leveraged loan at 100% LTV possible.