Financing for Telephone Answering Services

Looking for commercial loans for telephone answering services? An SBA loan may be just what you've been looking for. This $49,500 telephone answering services loan was issued by a New York bank.

This business knew how to go about getting a business bank loan. Based in State College, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
STATE COLLEGE, PA 16801

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

6/4/2001

Loan Approval Gross Amount

$49,500

Loan Approval from the SBA

Of the total $49,500 loan amount, the SBA guaranteed $42,075.

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 only one employee. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Manufacturers & Traders Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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