Joe & Sons Laundry LLC
Joe & Sons Laundry LLC is a coin-operated laundry and drycleaner located in Chicago, Illinois. The business was financed with an SBA 7(a) loan for a change of ownership of $755,000, approved on April 9, 2026 by Capital Bank, National Association.
SBA 7(a) loan, change of ownership, approved Apr 9, 2026
$755,000 approvedLender: Capital Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $755,000
- SBA-guaranteed amount
- $566,250 (75% of the approval)
- Lender
- Capital Bank, National Association, Rockville, MD
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 9, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $9,873 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 21, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in Coin-Operated Laundries and Drycleaners on this site.
- Average acquisition loan in Coin-Operated Laundries and Drycleaners: $1,337,074.
- Average acquisition loan in Illinois: $1,796,780.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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