Business Loans for Testing Laboratories

As a third party testing service for anything from soil to new and improved products that are about to go to market, your testing laboratory provides a valuable service to both our community and the world.  While you are an expert at keeping us safe from everything from faulty products to intoxicated employees, you might not be sure how to protect your company’s financial position.  Here are a few ways that we can help provide the cash you need to keep your laboratory flourishing.

Equipment & Expansion Loans

Proper testing and evaluation of samples often requires highly technical equipment.  To stay competitive, your laboratory needs to always have the right piece of state-of-the-art equipment to meet each customer’s needs.  Much of this equipment is very expensive, however.  We have both short and long term loans to allow you to purchase what you need when you need it at an interest rate that you can afford.

Sometimes keeping up with demand requires more than a new piece of equipment.  If your entire laboratory is in need of a remodel or expansion, we have long term financing available to help make this happen.  Whether you need to add a new wing to your existing facility or purchase a brand new space, call us for great terms on a loan to cover not only the building itself, but also the people and equipment to get your new laboratory operating!

Business Lines of Credit

Every business has busy and slow seasons.  While you may have some customers who provide you with steady work, many of your customers only use you on an as-needed basis.  This might mean that you are very busy in the autumn as companies rush to get products to market in time for Christmas, but as soon as the shopping season is over work slows down considerably.  Or perhaps you have been receiving steady business from a local water company as they expand capacity, but once the expansion is complete and certified, they no longer need your services as often.

Whatever the reason for your slow seasons, don’t let them affect your cash flow.  A business line of credit can help smooth out your income by allowing you to borrow when income is low and pay off the loan as soon as revenues increase.  Unlike credit cards or long term debt, a line of credit has a low interest rate and a flexible repayment schedule.  Call us today to set your laboratory up for long term success with a line of credit!

Other Financing Options

The above are the most common ways we lend to testing laboratories, but they are by no means the only options available.  Each testing laboratory serves a specialized function and therefore has specialized financial needs.  Whatever your situation, we can craft a custom loan package for your unique business.  A simple phone call is all it takes to keep your testing laboratory growing and thriving!

Ready to apply for a business loan?  The Business Loans Springfield team is here to help!