Telephone Answering Services Business Loans

With these business loans for telephone answering services, the SBA guarantees the lender that the loan will be repaid. This telephone answering services loan for $112,000 was given to an Indiana entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lafayette, Indiana was able to borrow $112,000 from Lafayette Bank & Trust Natl. The SBA made the loan possible by guaranteeing $95,200 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
LAFAYETTE, IN 47901

SBA Loan Lender

LAFAYETTE BANK & TRUST NATL
250 MAIN ST
LAFAYETTE, IN 47901

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561421 - Telephone Answering Services

Loan Approval Date

5/23/2001

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $95,200.

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 14 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lafayette Bank & Trust Natl and they will explain how you can get an SBA loan for your company.

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.

Related Links:

Business Incubators

Best Banks for Small Business in Lafayette, Indiana

Getting an SBA Loan in Indiana