Small Business Loans for Testing Laboratories

With these small business loans for testing laboratories, the SBA guarantees the lender that the loan will be repaid. This testing laboratories loan for $162,000 was given to a New York entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Tioga State Bank, out of Spencer, New York. The loan was granted and they received $162,000 to help grow their Norwich, New York business.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
NORWICH, NY 13815

SBA Loan Lender

TIOGA STATE BANK
1 MAIN ST
SPENCER, NY 14883

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 commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$162,000

Loan Approval from the SBA

Of the total $162,000 loan amount, the SBA guaranteed $121,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Related Links:

Accountant's Role in Securing Financing

SBA 7A Banks in Spencer, New York

Find an SBA Lender in New York