A covenant is simply a fancy term for the word ‘promise’. Banks include covenants in their loan agreements to preserve their position as the lender and to improve the likelihood a loan will be paid back by the business owner/borrower on time, in full, and in accordance with the loan’s terms and conditions.
Loan Covenants Examples
Posted by Exit Promise under FinanceFrom http://exitpromise.com 2429 days ago
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