Business Loan from Harris National Association Given to Coin-Operated Laundries And Drycleaners Company

Harris National Association has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Chicago, Illinois, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Harris National Association, based in Summit, Illinois.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
CHICAGO, IL 60637

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
7549 W 63RD ST
SUMMIT, IL 60501

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

4/30/2004

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $36,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

If you want money for new small business in Chicago IL, you ought to talk with a local Chicago SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chicago businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Good Banks for Small Business in Summit, Illinois

SBA Lenders in Illinois