Borrowing Money for Telephone Answering Services

With these loans for telephone answering services, the SBA guarantees the lender that the loan will be repaid. This telephone answering services loan for $130,000 was given to a Texas entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Nacogdoches, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Commercial Bank Of Texas, based in Nacogdoches, Texas.

SBA Loan Borrower

COMPANY TYPE: TELEPHONE ANSWERING SERVICES
NACOGDOCHES, TX 75961

SBA Loan Lender

COMMERCIAL BANK OF TEXAS
215 E MAIN
NACOGDOCHES, TX 75961

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561421 - Telephone Answering Services

Loan Approval Date

8/13/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Commercial Bank Of Texas 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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Nacogdoches, Texas

Texas SBA Bank Lenders