Prodo Labs Announces Acceptance of Small Business Administration Loan.
Prodo Laboratories, Inc is pleased to announce that its application to the U.S. Small Business Administration (SBA) has been accepted with a loan from Plaza Bank, Irvine, CA for $300,000 to initiate activation of the company’s operations. This funding permits Prodo Labs to activate its Service Business of providing viable human insulin-producing islets from human research pancreases to diabetic researchers for them to complete their funded projects. Prodo Labs contracts directly with corporate investigators needing high quality human islets for their research. Invenio Institute, a not-for-profit California benefit company, contracts with Prodo Labs to provide it human islets for research that it distributes to academic, institutional, and not-for -profit based diabetes researchers. Prodo Labs wishes to acknowledge the expert advise and assistance it received from two SCORE counselors, Jim Anderson and Joel Mascitelli, in preparation for this loan application and ongoing assistance in getting the company operational. SCORE is a voluntary organization sponsored by the SBA whose mission is to assist in the development of small businesses in the USA