There are over 42,500 licensed pharmacists in Canada, working at more than 10,000 pharmacies. Keep on top of industry changes and compound your independent pharmacy’s success with up to $500,000 in funding from Greenbox Capital® in as little as 24 hours.
Pharmacy Funding You Can Trust
Traditional lenders often consider independent pharmacies to be “low risk” thanks to healthy profit margins, high revenue, and the stability of operating a needs-based service that is less dependent on disposable income. While you may be able to get the pharmacy funding you need from a traditional lender like a bank or the Canada Small Business Financing Program, the application process can take months and approval is never guaranteed. Opportunities to grow or expand your pharmacy can easily vanish while you wait.
With a streamlined online application and flexible approval requirements, Greenbox Capital® can approve more pharmacy funding than traditional lenders—and we can approve your pharmacy funding faster, with funds deposited in as little as 24 hours. With several pharmacy funding options from as low as $3,000 up to $500,000, Greenbox Capital can help grow pharmacies in all specialties in Canada, including retail pharmacies, compounding pharmacies, and all other specialties.
How To Use Pharmacy Funding
There are no restrictions on how you can use pharmacy funding from Greenbox Capital. Pharmacy funding is typically best used for supporting growth initiatives that will increase your revenue, such as:
- Adding new services, such as compounding or blood pressure screenings
- Purchasing inventory, equipment, and pharmacy supplies
- Investing in specialized training for pharmacists
- Offering special off-site health programs like flu shot clinics
- Adding on-site patient services such as a walk-in clinic
- Expanding to, or acquiring, a new location
- Hire staff so you can expand your practice’s services and take on more patients
- Upgrade or invest in new equipment or lab supplies
- Develop a secure website to offer new services like online booking or virtual care
- Energize your marketing and advertising to bring in more patients
- Purchase a new location or expand your current practice
- Renovate your office to offer a more comfortable patient experience
Alternative pharmacy funding can also help when you need a quick influx of working capital to meet the unique challenges of running a pharmacy, such as:
- Decreased reimbursement rates
- Exclusion of Medicare prescription drug plans
- Delays receiving payments from insurance companies
- Changing customer demands, such as short wait times and assistance dealing with insurance companies
- Competition from chain pharmacies and large retailers
- Government regulations and supply chain restrictions
- Ongoing licensing and certification fees
How Pharmacy Funding Works
Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.
A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.
Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.
Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.
Will You Qualify for Pharmacy Funding?
Exact qualification requirements depend on the type of pharmacy funding you are seeking. Approval for pharmacy funding from Greenbox Capital isn’t based solely on your credit score or financial history. Instead, we focus on the overall health of your practice, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Pharmacy Funding Q&A
I am an independent pharmacy needing to expand my lab. Should I get alternative pharmacy funding for this project?
Yes, alternative pharmacy funding is ideal for expanding your lab so you can increase your revenue. We always recommend using pharmacy funding to grow your business.
What do I need to do to qualify for a small business loan?
We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.
How do I get funding for a pharmacy?
You can get funding for a pharmacy from traditional lenders like federal funding programs or a bank, as well as from alternative lenders like Greenbox Capital. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business. Contact one of our Funding Advisors to learn more.
My inventory is getting low and I need to restock. What kind of loan do you suggest?
We have several funding options that could work for you. To identify and select the right loan, please contact one of our knowledgeable Funding Advisors.
Why should I consider an alternative lender for my pharmacy funding?
Traditional lenders can take weeks or months to review and approve your loan application, and most applicants are rejected. As an alternative lender, we have different approval requirements, and can approve funding for “high risk” industries. We can provide you with the funds you need to cover project expenses, operating costs, supplies, and more, often in less than 24 hours.