SBA Loan from Covenant Bank Helps Power And Communication Line And Related Structures Construction Company

An SBA loan from Covenant Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wilsonville, Alabama business owner got a $25,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wilsonville, Alabama was able to borrow $25,000 from Covenant Bank. The SBA made the loan possible by guaranteeing $12,500 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION
WILSONVILLE, AL 35186

SBA Loan Lender

COVENANT BANK
7908 PARKWAY DR
LEEDS, AL 35094

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

237130 - Power and Communication Line and Related Structures Construction

Loan Approval Date

2/23/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 2 employees. The SBA loan documents indicated that the funding would help create 1 new job.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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:

Obtaining Funding - Friends and Family

SBA 7A Banks in Leeds, Alabama

Alabama SBA 7A Lenders