From left: Jerry and Andy Shifrin, father and son owners of Chicago Mattress Company
The father & son team behind the Chicago Mattress Company has been at the cutting edge of mattress renovation for nearly two decades, turning an idea and a small investment into a booming bedding business.
When Andy Shifrin graduated from Colorado State University, he knew he wanted to work with his father, Jerry, carrying on the family upholstery fabric business. The company sourced vinyl overruns and leftovers from mills in Wisconsin and Mississippi and sold them to small furniture upholsterers in Chicagoland.
But soon, Andy realized he could use the same idea of recycling products to reach a brand new market—mattress remanufacturing.
Andy and Jerry began contacting local manufacturers, learning that sourcing used bedding materials was often a problem. By applying the same principles they had in the upholstery business and continuing to focus on outstanding customer service, the Shifrins could provide mattress remanufacturers with quality product while lessening waste in landfills.
So with $1,500 and an idea, the Chicago Mattress Company was born.
Today, Chicago Mattress Company is the nation’s largest and most innovative mattress renovator.
Since 1996, Chicago Mattress Company has provided a substantially better sleep surface to customers in 15 states, with a 5-year, 100% warranty.
“We filled a need. Our innovations have allowed us to provide better value,” Andy said.
Providing better value has allowed Chicago Mattress Company to continuously grow, and South Central Bank has been a trusted and important partner with them for the last 19 years.
“Our relationship with South Central is iron-clad. They trust us and we trust them. It’s personal,” Andy said. “They recognize me. They work with us, both with our people and with the numbers. They really do go the extra mile.”
For Andy, the family atmosphere is among the greatest benefits of working with South Central Bank.
“They believed in me and I felt that,” he said. “And, I like it that they’re a father and son business like we are.”
Few banks know more about connecting your business with capital backed by the U.S. Small Business Administration (SBA) than South Central Bank. We were one of the first SBA “Preferred Lenders” in Northern Illinois under 7A, the most popular SBA loan program.
At South Central, we make SBA decisions quickly. We are authorized to approve up to $5 million for a 7A SBA loans “in-house,” without prior SBA approval, so there is no delay.
SBA loans suit a variety of transactions when business customers would like permanent financing. Permanent financing protects businesses from issues during stressful periods when renewal of short-term funding might be a problem.
That’s because SBA loans can provide more money for a longer period of time than conventional financing. Loans generally range from $100,000 to $5 million. Repayment terms vary by loan use. Working capital loans can be repaid up to seven years. Equipment loans have terms of up to 10 years, while real estate terms can extend to 25 years for business real estate. Visit ourwebsite for details.
Contact Bob Ribordy at (312) 491-7118 or Todd Grayson at (312) 491-7114 to see how South Central can make SBA 7A loans help your business transform.