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March 28, 2024  
 
 
  Business Loan Information  
 

SBA Lenders for Leeds, Alabama Small Businesses

 

 
Loan Census SBA Loan Info

Where to Get Capital for Carpet and Rug Mills

Looking 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
LEEDS, AL 35094

SBA Loan Lender

COVENANT BANK
7908 PARKWAY DR
LEEDS, AL 35094

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.

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