As of Tuesday afternoon, Frank Calvo, the owner of the East Hampton Pharmacy, said he was optimistic that he would be able to line up financing from a private investor that would allow him to keep his North Main Street, East Hampton, store open. Mr. Calvo’s second store, on Main Street in Bridgehampton, was closed on Friday.

There was an outpouring of community support—and at least one potential investor came forward—when Mr. Calvo announced on Thursday that he would be forced to close his two stores by the weekend.

“The response has been unreal. It was an unbelievable day with my phone ringing off the hook and people stopping in,” Mr. Calvo said he was prepared to open for business on Saturday morning.

On Thursday night after word spread that he was closing, Mr. Calvo said he received the call offering financial backing. The good news from the call was compounded by outstanding retail sales on Friday, he said.

Mr. Calvo said on Thursday the poor economy and the loss of his bank line of credit were forcing him to close his doors.

In recent weeks, he said he had been searching for private investors to help save him from financial collapse, but to no avail until last week.

“I am waiting for my finance angel to finalize everything fairly soon,” said Mr. Calvo on Saturday. “But in the meantime, I am still serving the public. Sales today were better than in mid-August.”

The news that Mr. Calvo would close both stores and his 22 employees would be out of work was greeted with shock and disbelief last week by customers who came in to have prescriptions filled and commiserate with the shopkeeper.

“The heartbreak for me is not to be able to serve the sick and elderly of my community in this capacity,” he said last week. “For me, it has always been about service and a continuum of care.”

After running his business in East Hampton for eight years, Mr. Calvo expanded his business west to Bridgehampton in February 2008. The Bridgehampton location, beset with construction delays, opened 10 months behind schedule and right on time for the financial crisis.

In August, Mr. Calvo said his bank pulled his line of credit, essentially sealing his fate.

“Many of my clients are housebound and on Medicare,” said Mr. Calvo. “In the event they cannot pay for their medications, we provide special payment plans. We make home deliveries. We are a part of this community.”

At the pharmacy counter on Thursday in East Hampton, patrons were lined up to give Mr. Calvo hugs and words of support—with many giving tearful goodbyes to a man who has served them for eight years.

“He is a wonderful man,” said one of a handful of the East Hampton Pharmacy customers lined up for up for their prescriptions.