Commercial Loans for Drycleaning and Laundry Services

Looking for commercial loans for drycleaning and laundry services? The SBA may be the answer. This $430,000 drycleaning and laundry services loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Des Plaines, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was The Foster Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
DES PLAINES, IL 60016

SBA Loan Lender

THE FOSTER BANK
5225 N KEDZIE AVE
CHICAGO, IL 60625

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.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

8/21/2000

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Des Plaines IL, you ought to talk with a local Des Plaines SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Des Plaines businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $430,000 loan. Remember, feel the fear, and do it anyway.

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.

Related Links:

Borrowing Money from Friends and Family

SBA Banks in Chicago, Illinois

SBA Lenders in Illinois