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Serrano Medical Pharmacy, Inc.

Los Angeles, CA · Pharmacies and Drug Retailers · NAICS 456110

Serrano Medical Pharmacy, Inc. is a pharmacy and drug retailer in Los Angeles, California, classified under NAICS 456110. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1.8 million, approved on July 30, 2024, by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Jul 30, 2024

$1,800,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,800,000
SBA-guaranteed amount
$1,350,000 (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
10.5%, variable
Term
10 years (120 months)
Estimated maturity
July 30, 2034 (estimated, approval date plus term)
Estimated monthly payment
$24,288 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 14, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
456110, Pharmacies and Drug Retailers
Project location
Los Angeles County, CA
SBA district office
Los Angeles District Office
Congressional district
CA-33
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 65% 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 California: $1,688,228.

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 California