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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Leeds, Business Loans > Covenant Bank Leeds Business Loans > Carpets And Rugs Loan | ||||
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SBA Lenders for Leeds, Alabama Small Businesses
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Where to Get Capital for Carpet and Rug MillsLooking for small business loans for carpet and rug mills? The SBA may be the answer. This $70,000 carpet and rug mills loan was issued by an Alabama bank. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Covenant Bank, out of Leeds, Alabama. The loan was granted and they received $70,000 to help grow their Leeds, Alabama business. SBA Loan Borrower COMPANY TYPE: CARPETS AND RUGS SBA Loan Lender COVENANT BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2273 - Carpets and Rugs NAICS Code 314110 - Carpet and Rug Mills Loan Approval Date 3/6/2001 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Covenant Bank 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. Related Links:
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