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September 27, 2020  
 
 
  Business Loan Information  
 

Raising Money in Homewood, Illinois With SBA Loans

 

 
Loan Census SBA Loan Info

Illinois Small Business Loan Issued to Drycleaning And Laundry Services Company

Looking to get an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Ohio bank that works with the SBA to help small business owners.

Getting a small business loan in Homewood, Illinois was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
HOMEWOOD, IL 60430

SBA Loan Lender

RBS CITIZENS
1215 SUPERIOR AVE
CLEVELAND, OH 44114

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

10/27/2004

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

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 40 employees. This SBA loan request indicated that the loan would help retain 40 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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SBA Ohio Banks