Raising Money for Medical Laboratories

With these bank loans for medical laboratories, the SBA guarantees the lender that the loan will be repaid. This medical laboratories loan for $1,311,800 was given to a Wisconsin entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Racine, Wisconsin was able to borrow $1,311,800 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $878,906 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
RACINE, WI 53406

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

11/15/2007

Loan Approval Gross Amount

$1,311,800

Loan Approval from the SBA

Of the total $1,311,800 loan amount, the SBA guaranteed $878,906.

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 11 employees. This SBA loan request indicated that the loan would help retain 11 existing jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Jpmorgan Chase Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Raising Venture Capital

Good Banks for Small Business in Houston, Texas

Getting an SBA Loan in Texas