The New River Valley Development Corporation board approved a $35,000 loan from the NRVDC revolving loan fund to Portia Thompson for her pharmacy business in Floyd, The Pharm House LLC. Portia was born and raised in Floyd, and after running pharmacies in Texas, she jumped at the opportunity to provide Floyd with the option for a locally-owned, full-service pharmacy.
The Pharm House has grown rapidly since opening in 2018, providing an array of services including immunization, filling prescriptions (including a delivery option), and the capacity to compound specialized drug formulations on site. The staff also provide advice and guidance to help clients maximize health insurance benefits and plan ahead to make sure they can afford their medications, which is especially important for patients with chronic conditions that require ongoing treatments. You can find more information about the Pharm House on their website at this link: https://thepharmhouserx.com/.
The NRVDC board would like to congratulate the Pharm House on their successful loan application!
The NRVDC revolving loan fund has only about $5,000 remaining to lend to qualified small businesses, although more funding will be available as loan recipients pay back their existing loans. The loan fund helps small businesses to buy equipment, upgrade facilities, or secure working capital to expand their operations. Loan terms are flexible, with favorable interest rates.
If you know of a small business that needs low-cost financing to grow, tell them about the NRVDC loan fund! For more information, please visit our website (http://www.nrvdc.org/dcfinance.html ), or contact Patrick O’Brien, [email protected] or 540-639-9313 x 206 to discuss loan options and obtain an application package.