Business Loan from The Foster Bank Given to Drycleaning And Laundry Services Company

An SBA loan from The Foster Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Northbrook, Illinois business owner got a $186,000 loan.

This business knew how to go about getting a business bank loan. Based in Northbrook, Illinois, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was The Foster Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
NORTHBROOK, IL 60062

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

3/5/2003

Loan Approval Gross Amount

$186,000

Loan Approval from the SBA

Of the total $186,000 loan amount, the SBA guaranteed $139,500.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

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

If you are raising money in Northbrook IL, you ought to talk with a local Northbrook SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Northbrook businesses.

This SBA loan was for $186,000. How would you spend $186,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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