- June 29, 2021
- Posted by: Stratford Team
- Category: Business
JACKSON, Miss.–(BUSINESS WIRE)–It’s only been a few weeks since Dr. Andrew Clark opened the doors of Northtown Pharmacy, and he already feels at home and optimistic about the business’s future at the corner of Old Canton Road and Northtown Drive in Jackson, Mississippi.
The independent pharmacy opened June 1 with a loan from BankPlus that was combined with a $100,000 Small Business Boost (SBB) loan from the Federal Home Loan Bank of Dallas (FHLB Dallas) and BankPlus that provided gap funding.
SBB is offered by FHLB Dallas through member financial institutions like BankPlus to provide financing for qualified small business transactions by filling the gap between the loan amount that an FHLB Dallas member institution can fund and the loan request made by an eligible small business. SBB loans are unsecured and subordinate to the primary loan made by the member financial institution.
“The Small Business Boost loan allowed me to free…