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December 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Leeds, Business Loans > Covenant Bank Leeds Business Loans > Curtains And Draperies Loan | ||||
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Leeds, Alabama Bank for SBA Loans
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Leeds, Alabama Lender Lends Money to Curtains And Draperies CompanyThinking about meeting with a Leeds, Alabama bank about an SBA loan? Here's one Alabama business loan, issued by a Leeds bank, that was approved by the SBA. Applying for an SBA loan with Covenant Bank worked out well for our friends at one local firm in Birmingham, Alabama. The business was able to get an SBA loan for $100,000. Way to go! SBA Loan Borrower COMPANY TYPE: CURTAINS AND DRAPERIES SBA Loan Lender COVENANT BANK 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 2391 - Curtains and Draperies NAICS Code 314121 - Curtain and Drapery Mills Loan Approval Date 4/12/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Covenant Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Covenant Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: A Company That Helps Entrepreneurs Browse All Business Loan Sources for Alabama
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