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April 18, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Leeds, Business Loans > Covenant Bank Leeds Business Loans > Clothing Stores Loan | ||||
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SBA Lender Leeds
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Leeds, Alabama Bank Gives SBA Loan to Clothing Stores CompanyWant to talk with a Leeds, Alabama bank about a small business 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 business in Birmingham, Alabama. They got an SBA loan for $75,000. Sweet! SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender COVENANT BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 448190 - Clothing Stores Loan Approval Date 4/12/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help create 2 new jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, feel the fear, and do it anyway. 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
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