Meridian Bank Closes SBA Loan for Family-Owned Biotech Company

Meridian Bank's SBA Lending Team closed a $1,350,000 SBA Loan for a local Delaware County company to purchase Commercial Real Estate and FF&E. The mortgage loan was structured with a fully-amortizing 25-year term and financed 90% of the real estate purchase, new equipment, funds for minor property improvements, and closing costs.

The company provides contracted research services for universities, research facilities, and pharmaceutical companies all over the world. Additionally, as an accredited clinical lab, they perform testing services for many of the Cancer providers in the region and have been an integral partner for health-care providers with Covid-19 testing as well. This purchase will allow them to continue growing unencumbered by real estate constraints. Lastly, by utilizing the leverage allowed with the SBA program, they are able to hold onto their operating capital and continue reinvesting into the business.

Meridian Bank is an SBA Preferred Lender ("PLP") and consistently a top-ranked lender in the Tri-State Region. They are actively lending on Real Estate Purchases and Refinances, Business Acquisition and Partner Buy-Outs, Equipment Purchases, Debt Consolidations, Working Capital Needs, etc. Their loan products provide highly-competitive rates, low closing costs, and a streamlined closing process with their experienced team.

For more information about Meridian Bank and their SBA lending program, please contact:

Paul Avery, VP Senior SBA Loan Officer?- 484.395.2063 |[email protected]