Who this page is for
Funding based on bank statements fits biotech businesses that already take in money: contract testing labs, analytical services, sample-prep services, reagent and supply distributors, and small manufacturers. A research company with no revenue yet follows a different funding path, such as investors or institutional support, and should not expect a statement-based review to fit.
Where lab cash goes
- Instruments. Analyzers, incubators, centrifuges, microscopes and freezers cost a lot and need service contracts and calibration.
- Build-out. Benches, ventilation, plumbing, electrical capacity and safety systems for a lab space.
- Consumables. Reagents, glassware and plasticware bought in volume, some with a short shelf life.
- People. Technicians and scientists are paid long before a project invoices.
- Compliance. Quality systems, waste handling and inspections.
The project invoice problem
Services businesses commonly bill at milestones or on delivery of a report. A lab that takes a project in January may run tests through March, then wait for the client's accounts team to pay. During that time, instrument costs, consumables and wages continue. A growing lab with several clients can post a strong backlog while its account runs low.
A worked example, for illustration only
A testing lab wins work that requires a second analyzer to handle volume. Without the instrument, it can accept only half of the samples. The owner compares the cost of the instrument and its service plan to the extra monthly testing revenue it would bring. If the added revenue covers the cost with room to spare, buying makes sense. If the extra work is only a possibility, the lab should wait until contracts are signed. These numbers are illustrative only and not a statement of our terms.
Quality systems and customers
Clients of a lab care about accuracy, turnaround and documentation. Investments in quality systems, calibration and record-keeping often cost money upfront but win repeat work and make larger clients comfortable placing orders. A lab that reliably meets its turnaround times can negotiate better terms, and in time shorter payment periods. Treat quality spending as part of the revenue plan, not as overhead to be minimized.
Keeping equipment busy
Instruments earn money only when they run. Track utilization monthly. If an instrument is idle half the time, adding another is premature; if samples are waiting in a queue, capacity is the constraint and equipment may be the right investment.
How to apply
Funding runs from $25,000 to $5,000,000. The review reads about three months of business bank statements, uses a soft credit pull and considers FICO 500 and above. No tax returns are required, and funding can arrive in as little as 24 hours. Sole proprietors can apply. Many service labs are small companies with unevenly timed client payments. Apply here.