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Business Expansion

Washington D.C. Pharmacy Gets Written the Winning Prescription from Biz2Credit

State Pharmacy is a Washington D.C.-based pharmacy that is owned and operated by Marie Bibum, a Doctor in Pharmacy (often abbreviated PharmD). Founded in 2003, State Pharmacy offers its customers a variety of prescription medications and over-the-counter items, such as vitamins and supplements. Bibum has always prided herself on operating a thriving pharmacy with a robust and loyal clientele, but when the COVID-19 pandemic hit in early 2020, Bibum knew that she would need financial assistance to get her through such unprecedented times.
"COVID-19 has greatly affected my business. our clientele has decreased greatly for a variety of reasons. People have moved out of the local area, people don’t want to leave their homes as much as they used to, and unfortunately, some people have passed away."
Marie Bibum
State Pharmacy

Bibum ultimately chose to seek out additional financing, as sales at her pharmacy had significantly reduced, and she needed help in keeping her business afloat. Financing was needed to purchase medications, fund payroll, and help cover other day-to-day expenses. At first, Bibum applied for a Small Business Administration (SBA) loan but was left discouraged due to the long application and approval wait times.

“It took a while, in fact, I have still not received the funds that I initially applied for with the SBA. It is a very lengthy process, and I did not expect that to be the case.”
Marie Bibum
State Pharmacy

As Bibum was beginning the search for a lender who matched her needs, her payroll processor, Paychex, sent her an email with information on Biz2Credit and the different types of small business lending that they provided. After reading through their offerings, Bibum called Biz2Credit where she learned she could get financing quickly.*

“When they said I could receive funds, I thought it was too good to be true! To be sure, I ended up sending an email to Paychex just to confirm that Biz2Credit was authentic. I wanted to make sure they were real before I gave them any of my documentation and thankfully, Paychex quickly wrote back and confirmed their authenticity.”

After receiving confirmation from Paychex, Bibum compiled all the necessary documents and submitted her application to Biz2Credit. To her pleasant surprise, she was approved for funding and received the money in her bank account not long after. She recounted that she had never received any kind of financing that quickly in the entire nearly 20-year history of her pharmacy.

“The funding I received with help from Biz2Credit has helped me very much. When I received the funds, the first thing I did was pay any past-due bills that I had with my pharmaceutical vendors.”
Marie Bibum
State Pharmacy

For an in-depth guide on the different loans available to pharmacist’s check out this helpful guide on Pharmacy Loans from Biz2Credit. One of the highlights of Bibum’s experience with Biz2Credit was the funding specialist that she worked with.

“I have never worked with someone so nice. He was very professional and truthful about every step of the application and approval process. He delivered exactly what he promised during our initial call, and I really could not have had a better experience.”

When asked what her favorite part of running her business is, Bibum expressed her passion for interacting with and serving the people of her community and providing them with the medications that they deserve. She credits Biz2Credit with allowing her to be able to continue doing what she loves.

“I will be referring Biz2Credit to any small business owner. If it happened to me that quickly, it can happen to anybody. Without Biz2Credit, I would have been under immense financial pressure to keep my business afloat. Thank you Biz2Credit for such a wonderful experience.”

Are you a small business owner in need of financing for your business? With Biz2Credit, you can get funds in your bank account in as little as 24 hours. Click here to get pre-qualified for funding.

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