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December 19, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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The Foster Bank
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Business Loan from The Foster Bank Given to Coin-Operated Laundries And Drycleaners CompanyThe Foster Bank has a track record as a leading provider of SBA loans. Find out how this Georgia entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Foster Bank, out of Chicago, Illinois. The loan was granted and they received $570,000 to help grow their Smyrna, Georgia business. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS 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 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 10/14/2005 Loan Approval Gross Amount $570,000 Loan Approval from the SBA Of the total $570,000 loan amount, the SBA guaranteed $427,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Foster Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Foster Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Participating Banks in Chicago, Illinois
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