Financing for Drycleaning and Laundry Services

Looking for loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $164,000 drycleaning and laundry services loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Lake In The Hills, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Foster Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
LAKE IN THE HILLS, IL 60156

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.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

2/3/2006

Loan Approval Gross Amount

$164,000

Loan Approval from the SBA

Of the total $164,000 loan amount, the SBA guaranteed $123,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from The Foster Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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