Business Loan from Bank Of Canton Given to Telephone Answering Services Company

An SBA loan from Bank Of Canton typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Elmira, New York business owner got a $220,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Elmira, New York, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Bank Of Canton, based in Canton, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: TELEPHONE ANSWERING SERVICES
ELMIRA, NY 14903

SBA Loan Lender

BANK OF CANTON
5 W MAIN ST
CANTON, PA 17724

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561421 - Telephone Answering Services

Loan Approval Date

1/6/2006

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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