Loan Application

How We Work

Accessing Covenant Capital services is simple and easy. All loan applications typically go through a step-by-step process.

Loan Application:

  • Step 1 – Complete Application: Applicants complete and submit the online application.
  • Step 2 – Request Confirmation: Covenant Capital Administrator reviews application and contacts applicant to obtain further clarification, where necessary.
  • Step 3 – Upload Supporting Documentations: On confirmation, applicant is notified through email to upload relevant supporting documentations. These include:
    • Business plan
    • Loan repayment plan
    • Professional resume of applicant
    • Bank statements (of the business and/or entrepreneur)
    • Proof of residential address
    • Proof of business address
    • Two completed guarantor forms
    • Proof of identification
  • Step 4 – Preliminary Approval & Sponsor Notification: Covenant Capital Administrator reviews supporting documentations and sends applicant an email notification on the application. Where applicant is preliminarily approved, the applicant is notified of his/her Sponsor. A Sponsor serves as a mentor and is required understand your business situation and independently access your application and provide further professional guidance on the application.
  • Step 5 – Sponsor Discussions: Applicants meet with their Sponsor to understand business context, review application, validate repayment plan or draw up a new loan repayment plan, as necessary.
  • Step 6 – Upload Updated Repayment Plan: After discussions with Sponsor, the applicant uploads updated repayment plan. The Sponsor will also provide additional comments on the online application addressed specifically to the Loan Review Panel.
  • Step 7 – Panel Invitation: Covenant Capital Administrator will send applicants an email invitation inviting applicant to Loan Review Panel. Application may also be declined at this stage if the strength of the application is not satisfactory.
  • Step 8 – Panel Session: At the Panel Session applicants will be required to be present with their two guarantors to discuss the business idea, loan application, uses of funds and answer other relevant questions.
  • Step 9 – Final Approval Notification: Covenant Capital Administrator will contact applicant on the success of loan application and how your loan disbursements will be made.
  • Step 10 – Disbursement and Repayment: Covenant Capital disburses funds to the applicants. The applicant is required to strictly adhere to the approved repayment plan and provide periodic communications to Covenant Capital on business situation.

Other Service Requests:

  • Step 1 – Complete Application: Applicants complete and submit the online application.
  • Step 2 – Request Confirmation: Covenant Capital Administrator reviews application and contacts applicant to obtain further clarification, where necessary.
  • Step 3 – Meeting Arrangement: Covenant Capital Advisor contacts you to arrange a meeting.
  • Step 4 – Develop Specific Solution: Advisor and Applicant further review business/career situation, and develop and agree on solutions, next steps and review meetings.
  • Step 5 – Execute Next Steps: Applicant execute solutions based on step by step approach designed and reverts to Advisor as necessary.
  • Step 6 – Periodic Reviews: Applicant and Advisor meet regularly to review progress, agree changes to action plans and close out engagement.

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Do you have more questions about Convenant Capital? Contact us today!