Pharmacy owner Trent Moore with Sav-Mor Pharmacy in Neoga Illinois joins First Financial Bank's Pharmacy Division Loan Officer Mr. Bo Garmon for our 3rd part of the series on strategic planning, expansion, and lending.  Pharmacy ownership is a big step that commonly requires gathering large sums of money in the form of bank loans. It can be difficult for prospective pharmacy owners to secure commercial loans because most banks are asset-based lenders. One of an existing pharmacy’s biggest assets is the prescription files. Without understanding how pharmacies operate, commercial banks can place little value on these “blue sky” assets, despite their worth of potentially many hundreds of thousands of dollars. First Financial Bank (FFB) is a customer-oriented community bank headquartered in El Dorado, Arkansas, and a national lender that specializes in industry-specific loans to pharmacists and veterinarians. Their pharmacy lending team includes current and past pharmacy owners with more than 75 years of combined pharmacy experience. Their expertise in working with independent pharmacies allows them to offer a range of flexible terms tailored to the unique situation of pharmacy ownership.  Schedule a time to plan your pharmacy expansion:  https://www.ffb1.com/loans/pharmacy-loans/our-pharmacy-lenders.html 

Today's podcast is part 2 of the second series from the team at First Financial Bank's Pharmacy & Veterinary Divisions. Today we talk with Drew Hegi, MBA Loan Officer at First Financial Bank and Schwanda Flowers, PharmD Veterinary Practice Lender at First Financial Bank.   On this episode we learn about:  What is POLA? How and when did POLA start? What are the benefits of participating in POLA? How much does it cost to attend? What topics and activities do you cover at POLA? How can interested students and colleges get more information about attending? About P.O.L.A. Opportunity is on the horizon for student pharmacists interested in ownership. With an aging demographic of independent pharmacy owners, there has never been a better time to consider ownership. The Pharmacy Ownership and Leadership Academy (POLA) was developed to prepare student pharmacists for this exact opportunity. Twenty-five students from eleven colleges of pharmacy across the country arrived at the University of Arkansas for Medical Sciences (UAMS) College of Pharmacy on June 17th for a week long academy focused on leadership, personal and professional development, pharmacy financials, business planning and team building. The week began with assessing the attendees entrepreneurial spirit, leadership styles and emotional intelligence. They were welcomed with a picnic sponsored by First Financial Bank and had the opportunity to get to know each other and network with a team of lenders who truly understand pharmacy. The second day was a huge success; programming focused on writing a business plan, pharmacy lending, tools and support from the National Community Pharmacists Association (NCPA), and ended with a networking dinner with current Arkansas pharmacy owners. Students had the opportunity to connect with a professional mentor who can provide real-world advice and encouragement for these young entrepreneurs. Days three and four provided unique sessions on marketing, Community Pharmacy Enhanced Services Network (CPESN), and developing a vision for your business. 

First Financial Bank Pharamcy Division Team returns the Pharmacy Podcast Nation. Bob Graul addresses the Paycheck Protection Program (PPP) common questions for business owners. Bob explains the need for an emergency fund financial safety net for future mishaps and/or unexpected expenses. First Financial Bank’s Pharmacy Division recommends that emergency funds should typically have three to six months' worth of expenses in the form of highly liquid assets.  For more information please visit First Financial Bank www.ffb1.com Series 2 | Part 1  Financial Stability during an Unstable Time | First Financial Bank 

First Financial Bank delivers a 5 part series about the importance of financial resources for your Independent Pharmacy Business.  (VOL 5)  First Financial Pharmacy Business Veteran Team member Bob Graul, talks with Pharmacy Podcast Network CEO, Todd Eury about creative business development and healthcare services diversification.  Bob Graul:  https://www.linkedin.com/in/bob-graul-23976115/  FFB1 Podcast Series Library:  https://soundcloud.com/pharmacy-podcast/sets/first-financial-bank-podcast  From First Financial Bank: Our customers have the entrepreneurial spirit to build something bigger than themselves. Whether it’s starting their first pharmacy or growing a chain, we are instrumental in providing pharmacy loans and bringing dreams to fruition. Because we are a nimble, privately-held organization - we can focus on our customers and not on shareholders. We take the worry out of financing — so you can focus on your patients. First Financial Bank is one of the nation’s leading small business lenders - originating almost $200M in pharmacy loans over the last few years. Our lending team has over 75 years of pharmacy experience and includes current and past pharmacy owners. We have the industry-specific expertise and knowledge to help you finance your pharmacy. We are a preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs: Acquisition Equipment financing Expansion & remodeling Business refinancing Start-up loans We offer a wide range of flexible terms tailored to your unique situation. Whether you are buying, selling or refinancing, we’ll work with you, one-on-one, every step of the way. Our customer service, financial strength, and expertise in working with independent pharmacies nationwide make choosing First Financial Bank a sound business decision! Connect w/ the First Financial Banking Team:  https://www.ffb1.com/loans/pharmacy-loans/pharmacy-loans.html 

First Financial Bank delivers a 5 part series about the importance of financial resources for your Independent Pharmacy Business.  (VOL 4)  Multiple locations Pharmacy Owner, Michael Butler, PharmD, talks with Pharmacy Podcast Network CEO, Todd Eury about growing his pharmacy businesses with First Financial Bank the special differences in supporting pharmacy businesses expansions.  Michael Butler:  https://www.linkedin.com/in/michael-butler-5575aa49/  From First Financial Bank: Our customers have the entrepreneurial spirit to build something bigger than themselves. Whether it’s starting their first pharmacy or growing a chain, we are instrumental in providing pharmacy loans and bringing dreams to fruition. Because we are a nimble, privately-held organization - we can focus on our customers and not on shareholders. We take the worry out of financing — so you can focus on your patients. First Financial Bank is one of the nation’s leading small business lenders - originating almost $200M in pharmacy loans over the last few years. Our lending team has over 75 years of pharmacy experience and includes current and past pharmacy owners. We have the industry-specific expertise and knowledge to help you finance your pharmacy. We are a preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs: Acquisition Equipment financing Expansion & remodeling Business refinancing Start-up loans We offer a wide range of flexible terms tailored to your unique situation. Whether you are buying, selling or refinancing, we’ll work with you, one-on-one, every step of the way. Our customer service, financial strength, and expertise in working with independent pharmacies nationwide make choosing First Financial Bank a sound business decision! Connect w/ the First Financial Banking Team:  https://www.ffb1.com/loans/pharmacy-loans/pharmacy-loans.html 

First Financial Bank delivers a 5 part series about the importance of financial resources for your Independent Pharmacy Business.  (VOL 3)  Drew Hegi, MBA Loan Officer at First Financial Bank talks with Pharmacy Podcast Network CEO, Todd Eury about his role with the bank and the special differences in supporting pharmacy businesses expansions.  Drew Hegi:  https://www.linkedin.com/in/drew-hegi-mba-26911448/  From First Financial Bank: Our customers have the entrepreneurial spirit to build something bigger than themselves. Whether it’s starting their first pharmacy or growing a chain, we are instrumental in providing pharmacy loans and bringing dreams to fruition. Because we are a nimble, privately-held organization - we can focus on our customers and not on shareholders. We take the worry out of financing — so you can focus on your patients. First Financial Bank is one of the nation’s leading small business lenders - originating almost $200M in pharmacy loans over the last few years. Our lending team has over 75 years of pharmacy experience and includes current and past pharmacy owners. We have the industry-specific expertise and knowledge to help you finance your pharmacy. We are a preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs: Acquisition Equipment financing Expansion & remodeling Business refinancing Start-up loans We offer a wide range of flexible terms tailored to your unique situation. Whether you are buying, selling or refinancing, we’ll work with you, one-on-one, every step of the way. Our customer service, financial strength, and expertise in working with independent pharmacies nationwide make choosing First Financial Bank a sound business decision! Connect w/ the First Financial Banking Team:  https://www.ffb1.com/loans/pharmacy-loans/pharmacy-loans.html 

First Financial Bank delivers a 3 part series about the importance of financial resources for your Independent Pharmacy Business.  (VOL 2)  Pharmacy Owner David George with Creative Care Pharmacy talks with Pharmacy Podcast Network CEO, Todd Eury about the pharmacy owner's perspective on a financial partner and why he decided to work with First Financial Bank.  https://www.linkedin.com/in/davidlgeorge/  From First Financial Bank: Our customers have the entrepreneurial spirit to build something bigger than themselves. Whether it’s starting their first pharmacy or growing a chain, we are instrumental in providing pharmacy loans and bringing dreams to fruition. Because we are a nimble, privately-held organization - we can focus on our customers and not on shareholders. We take the worry out of financing — so you can focus on your patients. First Financial Bank is one of the nation’s leading small business lenders - originating almost $200M in pharmacy loans over the last few years. Our lending team has over 75 years of pharmacy experience and includes current and past pharmacy owners. We have the industry-specific expertise and knowledge to help you finance your pharmacy. We are a preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs: Acquisition Equipment financing Expansion & remodeling Business refinancing Start-up loans We offer a wide range of flexible terms tailored to your unique situation. Whether you are buying, selling or refinancing, we’ll work with you, one-on-one, every step of the way. Our customer service, financial strength, and expertise in working with independent pharmacies nationwide make choosing First Financial Bank a sound business decision! Connect w/ the First Financial Banking Team:  https://www.ffb1.com/loans/pharmacy-loans/pharmacy-loans.html 

First Financial Bank delivers a 3 part series about the importance of financial resources for your Independent Pharmacy Business.  (VOL 1) Larry Alexander - Managing Director at First Financial Bank Bob Graul - Business Development at First Financial Bank Owen BonDurant President at Independent Rx Consulting   From First Financial Bank: Our customers have the entrepreneurial spirit to build something bigger than themselves. Whether it’s starting their first pharmacy or growing a chain, we are instrumental in providing pharmacy loans and bringing dreams to fruition. Because we are a nimble, privately-held organization - we can focus on our customers and not on shareholders. We take the worry out of financing — so you can focus on your patients. First Financial Bank is one of the nation’s leading small business lenders - originating almost $200M in pharmacy loans over the last few years. Our lending team has over 75 years of pharmacy experience and includes current and past pharmacy owners. We have the industry-specific expertise and knowledge to help you finance your pharmacy. We are a preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs: Acquisition Equipment financing Expansion & remodeling Business refinancing Start-up loans We offer a wide range of flexible terms tailored to your unique situation. Whether you are buying, selling or refinancing, we’ll work with you, one-on-one, every step of the way. Our customer service, financial strength, and expertise in working with independent pharmacies nationwide make choosing First Financial Bank a sound business decision! Connect w/ the First Financial Banking Team:  https://www.ffb1.com/loans/pharmacy-loans/pharmacy-loans.html