Amarillo, Texas Lender Lends Money to Telephone Answering Services Company

Get SBA loans from an Amarillo, Texas bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Herring Bank is a Amarillo, Texas small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Texas company.

SBA Loan Borrower

COMPANY TYPE: TELEPHONE ANSWERING SERVICES
AMARILLO, TX 79101

SBA Loan Lender

HERRING BANK
2201 CIVIC CIR
AMARILLO, TX 79101

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.

NAICS Code

561421 - Telephone Answering Services

Loan Approval Date

4/23/2004

Loan Approval Gross Amount

$127,600

Loan Approval from the SBA

Of the total $127,600 loan amount, the SBA guaranteed $108,460.

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 17 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Herring Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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