Revolving Loan Fund Highlight: BioGX, inc.
Each month, we will highlight a recipient of our Revolving Loan Fund Program. This month's highlight is BioGX, Inc.
BioGX, Inc. is a biotechnology company located in downtown Birmingham. They provide custom molecular assay design and development services and are currently developing and selling tests for real-time PCR based detection across numerous applications. They have recently developed a test for use on salmonella in egg and poultry, and two new multiplex panels for specific e. coli detection. BioGX is located in the Innovation Depot.
BioGx is a part of the RPCGB's Accounts Receivable Program within the Revolving Loan Fund Program. This program is for incubator tenants of the Innovation Depot and the Bessemer Business Incubation System. The program provides quick, low-cost working capital loans to small business using their receivables as collateral over a 30-day term. The maximum loan amount is $25,000 and rates vary depending on the project.
To learn more about the Revolving Loan Fund Program and how your business might benefit, please visit our Loan Program page.