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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Drycleaning And Laundry Services Loan | ||||
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Chicago SBA Lenders
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Entrepreneur Works With Chicago, Illinois Bank to Get an SBA LoanA Chicago, Illinois small business loan can be yours. Learn how a company got a $513,000 business loan from this Illinois bank. This loan to an entrepreneur is a good example of an SBA loan. The Foster Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender THE FOSTER BANK 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 812320 - Drycleaning and Laundry Services Loan Approval Date 5/13/2005 Loan Approval Gross Amount $513,000 Loan Approval from the SBA Of the total $513,000 loan amount, the SBA guaranteed $384,750. 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 30 employees. The loan application indicated that the loan would help retain 30 existing jobs. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Foster Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Dealing With Venture Capitalists Good Banks for Small Business in Chicago, Illinois
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