Financing for Medical Laboratories

With these loans for medical laboratories, the SBA guarantees the lender that the loan will be repaid. This medical laboratories loan for $971,000 was given to a California entrepreneur in 2007.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with South Valley National Bank A Divis, out of Gilroy, California. The loan was granted and they received $971,000 to help grow their Valley Center, California business.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
Valley Center, CA 92082

SBA Loan Lender

SOUTH VALLEY NATIONAL BANK A DIVIS
8000 SANTA TERESA BLVD
GILROY, CA 95020

This lender provides SBA commercial 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

6/22/2007

Loan Approval Gross Amount

$971,000

Loan Approval from the SBA

Of the total $971,000 loan amount, the SBA guaranteed $728,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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