Pharmacy Business Loans

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Pharmacy financing

Best Business Loans for Pharmacy Businesses

Pharmacies are essential pillars of the community, and help support anyone in need of healthcare advice or medicine. Their essential nature makes them a profitable venture, but it’s not often easy to grow or expand your pharmacy business without external funding. Pharmacy financing can get you the capital you need to start or expand a pharmacy business.

Applying for a pharmacy business loan is fast and easy:

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What are pharmacy business loans?

Pharmacy financing is any type of funding that provides you with the capital you need to purchase, maintain, or expand a pharmacy business.

The way in which a pharmacy business loan works will depend on the financing product you choose and the lender you decide to work with.

That said, many financing options will involve borrowing a lump sum of money which you then have to pay back over an agreed amount of time, with added interest.

Best Pharmacy Business Loans

Here are the top five pharmacy business loans offered by online lenders:

1. OnDeck

OnDeck offers short-term loans from $5,000 to $250,000 with terms of up to 24 months and interest rates from 35%.

They also offer business lines of credit from $6,000 to $100,000 with an interest rate starting from 35.9%.

As long as you meet their eligibility requirements, you can receive funding in just 24 hours.

OnDeck Business Loan Review


Funding: Borrow $5,000 - $250,000
Minimum Credit Score: 600
Loan term: up to 36 months
Funding turnaround: as soon as same business day

OnDeck offers fast business loan options such as term loans, business lines of credit, and SBA PPP loans and funding as fast as 24 hours. Minimum requirements include: at least 1 year in business, 600 credit score, $100,000 in gross annual revenue and a business checking account.

2. BlueVine

BlueVine offers a business line of credit of amounts up to $250,000 with interest rates as low as just 4.8%.

You only need to have been in business for at least six months to qualify and you can receive same-day funding.



Funding: Borrow $5,000 - $250,000
Minimum Credit Score: 600
Loan term: 6-12 months
Funding turnaround: 24-48 hours

With BlueVine, borrowers can get approval as fast as 24 hours and obtain a business line of credit for short term capital needs while only paying interest on the funds you borrow.

3. Kabbage

Kabbage offers a business line of credit of up to $150,000 for pharmacy financing. Interest rates start at only 1.5% per month with repayment terms of 6, 12, or 18 months.

Kabbage Business Loan Review


Funding: Borrow $1,500 - $150,000
Minimum Credit Score: 640
Loan term: 6, 12 or 18 months
Funding turnaround: As soon as 1-3 business days

Kabbage offers borrowers a credit line up to $150,000 with monthly repayment options and no prepayment penalties. Approval as fast as same business day.

4. FundBox

FundBox caters to those with low credit, with term loans of up to $100,000 or up to $150,000 for those with good to excellent credit. You will be given repayment terms of either 24 or 52 weeks with interest rates of 8.33% to 18%.

FundBox Business Loans


Funding: Borrow $2,500 - $150,000
Minimum Credit Score: 600
Loan term: 12-24 months
Funding turnaround: as fast as next business day

Fundbox requires minimal documentation and access to a revolving line of credit without origination or maintenance fees. Borrowers are not required to have collateral (with exception of larger credit lines which are subject to a personal guarantee).

5. Credibly

Credibly offers pharmacy business loans from $5,000 to $400,000 with an average interest rate of about 36%.

With eligibility requirements of only 6+ months in business, $15,000+ monthly income, and a credit score as low as 500+, this is a good option if you don’t meet the requirements of other online lenders.

How profitable is owning a pharmacy?

In 2017, according to Drug Channels, owning an independent pharmacy had a profit margin of 21.8%, though this has been slowly declining over the last few years. However, this is still a strong profit margin and one that is much higher than many other industries in the market.

What are the benefits of pharmacy financing?

There are several benefits that come from taking advantage of pharmacy financing, such as:

  • it can be used to cover expenses during quiet business periods
  • it can be used to purchase equipment
  • it can be used to employ skilled members of staff
  • it can be used to expand into other locations
  • it can be used to remodel or update a pharmacy

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How to get a pharmacy business loan

If you are looking to finance a pharmacy, there are a number of options available to you, depending on your eligibility and need for a loan.

  • Bank Loan: If you are able to qualify, the most affordable pharmacy financing option will be a bank loan due to the long repayment terms and low interest rates. If you have been in business for two years or more and have an excellent credit score, this should be your first choice for a pharmacy loan provided you don’t need fast funding, as the application process can take some time.
  • SBA Loan: SBA loans are sought after by many small business owners as they are guaranteed by the Small Business Association, with relatively low interest rates and long repayment terms. This type of financing can be used to buy commercial real estate, as working capital, or to cover equipment costs, but qualification requirements can be strict and the application process can take up to 12 weeks.
  • Business Line of Credit: If you are not sure how much capital you need and when exactly you need it, you might want to consider a business line of credit. This type of pharmacy financing gives you access to a credit line which you can draw from whenever you need to and pay interest only on what you use. Once you repay what has been withdrawn, you can use that money over and over again until the business line of credit is closed.
  • Equipment Financing: If you are simply looking to gain the funding you need to purchase equipment, you should look toward equipment financing. A lender will give you up to 100% of the equipment costs which you then pay back with interest. The equipment itself acts as collateral so there is less risk to the lender, and you are likely to receive approval with lower interest rates.
  • Short-Term Loan: If you have bad credit that prevents you from qualifying for other pharmacy financing options, you should still be able to qualify for a short-term loan with an alternative online lender. Just remember that a short-term loan may have a repayment period of as little as three months, and a low credit score means much higher interest rates.

What are the pros and cons of pharmacy financing?


  • can receive funding fast
  • can help to increase your business credit score
  • allows you to make smaller, manageable payments
  • can be used for virtually all aspects of pharmacy businesses


  • can be expensive due to interest payments
  • often required to provide collateral
  • difficult to qualify for the best products without an excellent credit score

How much does a pharmacy business loan cost?

The cost of your pharmacy business loan will depend on several factors, including loan amount, lender, repayment terms, and interest rate.

Use our calculator to find out how much a pharmacy business loan is estimated to cost you:

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How to Qualify for a Pharmacy Business Loan

The requirements needed to qualify for a pharmacy business loan will depend on the individual lender and the type of loan you choose.

That said, for the best financing products, you can expect to need:

  • a good to excellent credit score
  • at least two years in business, although there are options for newer businesses
  • an annual revenue of at least $150,000

Remember that the higher your credit score the better rates you will be offered and the more financial options you will open yourself out to. There will be an option for you with low credit, but it will be particularly costly.

How to Get a Pharmacy Business Loan

Pharmacy business loans from alternative online lenders are likely to have a very fast application process whereas a bank will have a longer application process. With this in mind, if you are looking to receive funding fast, although the most affordable, a bank loan will not be right for you.

For all applications, however, you can expect to be asked to provide:

  • business information, such as business name and address, time in business, and licenses, etc.
  • financial information, such as annual revenue, tax returns, personal income, and Social Security number
  • loan amount, and in some cases, your reason for taking out the loan
  • Any details about what you’re willing to put up for collateral, if applicable

Compare and Apply Now

Whichever pharmacy financing option you decide is the right one for you and your businesses, you need to make sure that you compare each lender carefully to determine which is most affordable for you.

Use our tables to compare loan options and rates and follow the application process to obtain the financing you need to expand your pharmacy business.

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