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Covenants Explained: What They Mean and Why Your Bank Requires Them

Required financial covenant – the term often solicits groans from business owners, financial executives, and accountants alike when talking with commercial bankers about the structure of their debt facilities. While many borrowers have financial covenants, not every banker explains why they are implemented. At Univest Bank and Trust Co., our job is to help you manage your financing and treasury needs.  We also want you to understand the reasons behind how banks structure your loans.

Why have a financial covenant?

Financial covenants are not implemented to make doing business more difficult…

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