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44 Business Capital Closes SBA Loan for Bradley Drugs

October 02, 2014, 04:05 PM
Filed Under: Retail

44 Business Capital recently closed on a $750,000 SBA loan for Bradley Drugs, of Bethesda, Maryland. Bradley Drugs is a specialty pharmacy serving the pharmaceutical needs of patients in Montgomery County, Maryland and the surrounding area.

Greg Poehlmann, President of 44 Business Capital describes Bradley Drugs particular financing challenge. “Revenues had doubled in recent years and the company needed some permanent working capital to help facilitate the growth. The business did not have adequate collateral for a conventional bank line of credit but exhibited excellent management and debt service coverage.” said Poehlmann.

“An SBA 7a loan was structured to consolidate existing debt and pay down accounts payable thus strengthening the company’s buying power with its vendors.” said Poehlmann.

David Posner, President of Bradley Drugs described working with 44 Business Capital. “44 Business Capital was about the 30th lender I spoke to when seeking financing for my specialty pharmacy.” said Posner. 

According to Posner, “Jeff Peisach, Senior VP at 44 Business Capital, took the time to understand my business and realized that it was a viable and good loan.” “Jeff worked with me through the entire process and put me in touch with the leadership at 44. They took the time to talk to me about my business operations and understood my payment system. They helped me gain financing when banks just said no without discussion.” said Posner.

44 Business Capital is a subsidiary of Parke Bank which is a preferred SBA lender serving Philadelphia, Pennsylvania, New Jersey, Delaware, Baltimore MD, Northern VA, Washington DC.

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