According to the National Community Pharmacists Association, independent pharmacies earn a healthy profit margin of 22.1 percent on average, as compared to other industries. This goes to show that that starting a pharmacy can be a profitable business. However, as attractive as its profitability is, opening a pharmacy can be extremely costly. It is estimated that you will need at least $300,000 in working capital as a start. At CMS Funding, we work with pharmacy owners and tailor our financing solutions to every individual firms to help you get the loans you need. Our affordable and fast business loans have helped many business owners receive the help their need to scale their business to the next level.
Pharmacies are businesses which profits are hugely interlinked with government regulation changes and therefore there is a need for pharmacy owners to be constantly updated with the current government policies related to the health sector. Given the aging population and an increasing emphasis on health, there lies many opportunities that pharmacies owners can exploit to grow and upscale their businesses.
Other than keeping updated with the government regulations and current trends, opening a pharmacy requires an extensive list of equipment which can include, but not limited to, autoclaves, wheelchairs, refrigerators and incubators etc.
Given the nature of this industry, it is recommended that potential pharmacy owners seek out financial and legal advice before entering the business. Having a seamless access to funding options will be beneficial for pharmacies to ensure that they remain compliant with the laws and regulations and to stay relevant in the industry.
Benefits of Our Working Capital Loans
How can pharmacies benefit from our small business loans?
- Cash on hand for pharmacies to pay for expenses such as the operational expenses which include payroll, taxes etc.
- Flexible repayment terms such that pharmacies can manage their cash flow better.
- Provide fundings for pharmacies to comply with new and emerging laws and regulations, which can be expensive.
- A high approval rate, making us a reliable partner for all of your business financing needs.
What CMS Funding Offers for Pharmacies
Below is a list of our key small business loan features:
- Funding up to $500,000 for working capital loans or $2,000,000 for equipment leases
- Funding available within 24 to 48 hours
- Terms ranging from 6 to 24 months
- Non-obligatory application after consultation
- High approval rate
- No collateral required (unsecured loan)
- Low interest rates
- Simple one-page application
- Quick and easy approval process
- Automatic payments
- Excellent customer service
- … and more!
Get the Funding You Need to Grow Your Business Today
CMS Funding has been providing financial solutions for over 20 years. Our team of highly experienced and talented professionals has helped many large and small businesses acquire the funding needed to grow their business without comprising the bottom line. With our quick approval time and competitive interest rates, CMS Funding is your best solution when it comes to getting quick loans for pharmacies. No collateral is needed for our business funding options so you do not have to worry about your assets.