SBA 504 Loan Allows Local Pharmaceutical Company to Expand Patient Care Offerings
The SBA 504 Loan Program ensured Montana’s only closed-door pharmacy was able to continue providing vital services to Montanans in need.
Operating out of a 3,000 square foot space and faced with substantial growth opportunities, Big Sky Managed Care (BSMC) needed a larger space to continue their pharmacy services for the state of Montana. BSMC specializes in compliance med packaging as well as medical supplies to underserved communities including assisted living facilities, skilled nursing homes, jails, group homes and mental health communities. With the help of the SBA 504 Loan through High Plains Financial, BSMC is now occupying a 10,000 square foot space that required only 10% equity injection, coupled with 50% bank financing, and the remaining 40% utilizing the new 25-year debenture with a low, fixed interest rate.
“We aim to be the gap between the patient and the provider.”
Big Sky Managed Care was started in 2015. In 2016, BSMC expanded into the medical supply market and has been able to provide a complete medical package to their clients and facilities they serve. This expansion gives them the extra room needed to grow their medical supply and pharmacy sales along with adding a state of the art sterile IV room.
In addition to expanding their square footage, BSMC was also able to provide high wage jobs for the Great Falls community and increase their workforce by 12 employees, bringing their total to 40 and counting.
“Montanans should be taking care of Montanans.”
BSMC is the only closed-door pharmacy based in Montana. Larger corporate pharmacies distribute out of larger metropolitan hubs, adding time and cost to vital medications, medical goods and equipment. With a hub in central Montana, BSMC is able to provide quick delivery of goods at a low cost – a win for all Montanans.
To learn more about Big Sky Managed Care, visit their website at https://bigskymanagedcare.com/
10% input from the entrepreneurs
50% input from the bank
40% Low, fixed interest rate
SBA 504 Loan
To learn more about the SBA 504 loan program and how it can benefit your business, contact Jill Kohles at JKohles@GrowGreatFalls.org or by phone at (406) 590-1056.