 |
 |
May 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
 |
||||
The Foster Bank Business Loan Melrose Park, Illinois
|
||||
 |
Melrose Park, Illinois Business Gets SBA-Guaranteed Funding from The Foster BankThe Foster Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The Foster Bank, out of Chicago, Illinois. The loan was granted and they received $230,000 to help grow their Melrose Park, Illinois business. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender THE FOSTER BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 7/24/2002 Loan Approval Gross Amount $230,000 Loan Approval from the SBA Of the total $230,000 loan amount, the SBA guaranteed $172,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Foster Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network Small Business Banks in Chicago, Illinois
|
|
||
|
||||
|
|
||||