As a successful pharmacy and small business owner, you may have obtained capital in the past from specialty loans, use of liquid investments, seller financing or funding from friends, family and other supporters. The terms for this existing debt may not be ideal, whether it be the interest rate or term—or both. You may feel like you’re never going to generate the kind of cash flow you need to meet the needs of your pharmacy, extinguish debt and experience the achievement you dreamed of when you first set out to start your business.

The good news is that the pharmacy lending experts at Live Oak Bank are ready to help. You can refinance your existing debt, significantly decrease your current monthly payments and begin to see real growth for your pharmacy with help from our financing experts.

With a pharmacy refinance loan from Live Oak, you can restructure your debt into a more manageable repayment plan. While not all types of debt are eligible for a Live Oak refinance loan, if you meet the requirements of the policy, this could be an ideal way for you to reduce pressure from your previous lenders and start seeing more money going into your business. Typical Live Oak pharmacy loan terms are 10 years, and there are no prepayment penalties for loans with terms of less than 15 years.

There are no upfront costs or fees associated with our pre-approval and underwriting processes. These are the three main steps you can expect when you connect with a loan specialist to get your pharmacy refinance loan started.


Our pharmacy lending experts will talk to you in detail about your existing debt, then send you an email containing loan application forms. Once the application is received, you can expect it to take 24-48 business hours to determine if you are for pre-approved on your loan request. During that time, we will be conducting due diligence on our end, including running a preliminary cash flow and credit analysis. If you’ve been pre-approved, your pharmacy lender will then issue a proposal letter to you with information on rates, terms and all collateral requirements.


Once the proposal is signed and returned, your underwriter will work alongside a credit officer to obtain final approval for your loan. All refinance loans are unique, so although technology streamlines our process, all credit decisions are made by our team of financing experts. On average, underwriting takes one to two weeks, and if approved, you will receive a commitment letter outlining the details of your approval.


Once you have returned the signed commitment letter, your loan will be assigned to a pharmacy loan closing specialist. Closing takes approximately 45-90 days. Your dedicated lending team only works solely on pharmacy loans every day, so they understand the intricacies of your business and will work closely with you to get your loan closed on time.

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