Covenant Bank SBA Loan to Grocery Stores Company

Covenant Bank has a track record as a leading provider of SBA loans. Find out how this Alabama entrepreneur received an SBA loan from them.

This growing 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: GROCERY STORES
LEEDS, AL 35094

SBA Loan Lender

COVENANT BANK
7908 PARKWAY DR
LEEDS, AL 35094

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

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/26/2001

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Leeds AL, you ought to talk with a local Leeds SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Leeds businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Covenant 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.

Related Links:

Business Cash Advances

Who Lends Money to Small Businesses in Leeds, Alabama

SBA Alabama Banks