Annovex Pharma, located in Lorton, Virginia, is an FDA-registered 503B outsourcing facility and compounding pharmacy. They make ready-to-use medications for hospitals, veterinary offices, surgical clinics, and a number of other customers in the medical field. Their focus on quality, reliability, and service makes all the difference to the facilities they support.
Dayo Akinbi, founder and CEO of Annovex Pharma, has over 20 years of experience as an entrepreneur and business leader. Dayo holds an MBA and PharmD from VCU and is currently working on a doctorate in business administration at Walden University. He has been thinking about this business model for a number of years but was ready to officially move forward in 2020.
While researching financing options and talking to a number of financial institutions, he was put in contact with our experienced Business Development Officer, Dennis Wagner. Dennis was able to structure an SBA 7(a) loan that not only allowed Dayo to start the business, but included leasehold improvements, equipment purchases, and working capital.
Dayo had this to say about his experience partnering with Dennis Wagner and the team at FNB Small Business Finance:
It was a very good experience! In all honesty, I felt like he was truly looking out for our best interest and was our biggest advocate. He was a very good person to have on our team! I would absolutely recommend both Dennis and the entire team at FNB Small Business Finance.
It was a pleasure to partner with Dayo and support his business! We wish him all the success and growth in the future.