How to Get a Loan for Medical Laboratories

With these business loans for medical laboratories, the SBA guarantees the lender that the loan will be repaid. This medical laboratories loan for $265,000 was given to a Massachusetts entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Haverhill, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Pentucket Bank, based in Haverhill, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
HAVERHILL, MA 01830

SBA Loan Lender

PENTUCKET BANK
ONE MERRIMACK ST
HAVERHILL, MA 01831

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8071 - Medical Laboratories

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

5/6/2002

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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