Buddy Bear Car Wash: SomerCor SBA 504 Loan Feature

Tradition, Legacy, Entrepreneurship

For more than fifty years, Phil Degeratto’s Buddy Bear Car Washes have been keeping Chicagoland’s vehicles pristine. What began on the West Side of Chicago in 1972 has since expanded to the South Side and surrounding suburbs, becoming a beloved community staple.

The car wash industry is not the only place where the Degeratto family has made a difference: three family businesses have operated under the Buddy Bear umbrella. Degeratto’s grandfather owned Big Bear Foods Supermarket, his father owned the Buddy Bear food center, and now Phil Degeratto owns and operates eighteen Buddy Bear Car Wash. The multigenerational name carries a sense of tradition, legacy, and entrepreneurship, making it a place for the community to come together and be a part of the Buddy Bear family themselves.   

SBA 504 Building & Equipment Purchase  

The Buddy Bear team is good at what they do, cultivating a strong following and demand for their quality services. With high-performing car washes spread across Chicagoland, Degeratto saw an opportunity to build new facilities and turned to SomerCor to help him with four Small Business Administration (SBA) 504 loans. The most recent project included land purchase at 8644 S. Kedzie Avenue where Degeratto built a 4,774 square foot automatic car wash. The project also included washing equipment and the iconic Buddy Bear signage.

“I go to SomerCor because I can count on them time and again. I know the Buddy Bear legacy is safe when SomerCor is involved, and I am so thankful to work with a team that cares about their clients and communities the way we do.” – Phil Degeratto, Owner.

The importance of community continues to inform Degeratto and his team; they make sure Buddy Bear Car Wash has a meaningful and positive impact on the area. Across their eighteen-and-counting car wash locations, the ethos of the Buddy Bear family name signals to the community that they have more than a car wash on their corner: they have a friend, too.

SomerCor Team Members: Loan Servicers: David Sommers & Sue Skinner; Closing Analyst: Monika Czubiak  

People Who Care, Wash at Buddy Bear! Buddy Bear Car Wash is open for business! Visit https://buddybearcarwash.com/ or call (773) 565-4057 for more information.  

Download the program flyer and connect with a member of SomerCor’s loan origination team to learn more about how the SBA 504 loan program helps small businesses expand.