Olive Tree Compounding Pharmacy Utilizes SBA 504 Loan Program For New Brick and Mortar in Rio Rancho, New Mexico

Capital CDC SBA 504 Borrower Dr. Ndidiamaka Okpareke, President and Owner of Olive Tree Compounding Pharmacy, explains why she selected the SBA 504 loan program and describes what her experience was with the 504:

In 2017, I decided to open a compounding only pharmacy in Rio Rancho, New Mexico, something that hadn't been done before. After going through an incredibly rough patch (to obtain financing), the SBA 504 program was my saving grace. The SBA 504 program was a perfect fit for my entrepreneurial journey; it came at the right time.

I am so thankful for the SBA 504 program. During the application process, I kept my eyes on the prize and was willing to do anything to make sure I got approved. It wasn't an easy undertaking, but I had the spirit of perseverance to overcome all obstacles. The SBA 504 program showed me that dreams come true. The question is, "who is still dreaming?" The major lesson I learned through the SBA 504 program is to build a resourceful community that can support and encourage along the way! In times when you least expect, the community will be the determining factor of your survival!

The new Olive Tree Compounding Pharmacy opened for business in March 2024. The labor force of Olive Tree will grow immediately by the addition of 1 licensed pharmacists, 3 technicians, 3 sales consultants, 1 Marketing Specialist/Business Developer, and 1 Intern Pharmacist transitioning into Pharmacist. Olive Tree is an extremely vital component to the healthcare community in New Mexico and neighboring states. In addition to being licensed in New Mexico, Olive Tree is also licensed in Texas, Wisconsin, Maryland, and Indiana. Pending Licensure in Georgia and Nevada. I am currently working on securing licensure in Arizona, Nevada and Utah so that Olive Tree can be well positioned to provide the highest quality customized pharmaceutical care to those in need.

Capital CDC is thrilled for the Olive Tree Compounding Pharmacy team and all of their success. We can't wait to watch them continue to grow and do great things. Watch Olive Tree Compounding Pharmacy's SBA 504 Loan Program journey to construct a new building here.

If you are in the Albuquerque area, we highly recommend you stop by and check out Olive Tree Compounding Pharmacy (1713 Wellspring Avenue SE | Rio Rancho, NM 87124) or visit them online here: Olive Tree Compounding Pharmacy