SBA data · Illinois
SBA lending in Illinois
37,253 loans worth $19.02B have been approved for Illinois projects since FY2010 - the #6 state by SBA dollars, 3.8% of the national total.
State rank
#6
by dollars approved
Approved
$19.02B
FY2010 onward
Loans
37,253
Median loan
$224,000
+24% vs national
Median 7(a) rate
6.75%
Jobs supported
435,437
Lender-reported
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Who lends here
The most active SBA lenders in Illinois
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in IL | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | Small Business Growth Corporation | $2.39B | 3,064 | $780,930 | |
| 2 | Byline Bank | $2.32B | 2,329 | $997,474 | |
| 3 | SomerCor 504, Inc. | $1.65B | 2,058 | $803,453 | |
| 4 | The Huntington National Bank | $938.8M | 4,091 | $229,490 | |
| 5 | U.S. Bank | $667.3M | 2,535 | $263,221 | |
| 6 | Live Oak Banking Company | $604.9M | 484 | $1,249,810 | |
| 7 | JPMorgan Chase Bank | $588.3M | 3,903 | $150,725 | |
| 8 | Village Bank and Trust | $396.0M | 826 | $479,406 | |
| 9 | Millennium Bank | $365.8M | 195 | $1,875,837 | |
| 10 | Busey Bank | $292.0M | 277 | $1,054,264 | |
| 11 | Wells Fargo Bank | $227.3M | 467 | $486,762 | |
| 12 | Old National Bank | $226.3M | 261 | $867,045 |
By sector in Illinois
- Restaurants & Hotels5,034 · $3.59B
- Retail2,834 · $1.83B
- Other Services3,845 · $1.70B
- Health Care3,499 · $1.63B
- Wholesale1,986 · $1.27B
- Professional Services3,389 · $1.23B
- Construction3,624 · $1.11B
- Transportation3,118 · $945.6M
- Arts & Recreation1,208 · $746.0M
- Real Estate799 · $530.1M
- Administrative & Waste1,555 · $518.8M
- Manufacturing692 · $506.3M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in Illinois. The final bar is a partial fiscal year.
Loan sizes in Illinois
- Under $50K17%
- $50K - $150K21%
- $150K - $350K24%
- $350K - $1M24%
- $1M - $2M9%
- Over $2M6%
SBA lending in Illinois: common questions
- How many SBA loans are approved in Illinois?
- 37,253 SBA 7(a) and 504 loans totalling $19,019,774,400 have been approved for projects in Illinois since fiscal year 2010, ranking it #6 among states and territories by dollars approved - 3.8% of all SBA lending nationally.
- Which lenders make the most SBA loans in Illinois?
- By dollars approved in Illinois, the most active lenders are Small Business Growth Corporation, Byline Bank, SomerCor 504, Inc., The Huntington National Bank, U.S. Bank. Volume is not a recommendation - a lender's fit depends on your industry, loan size, and credit profile.
- What is the typical SBA loan size in Illinois?
- The median gross approval in Illinois is $224,000, 24% above the national median of $180,000. Half of all loans in the state fall between $25,000 and $1,342,000.
- Do I need to use a lender based in Illinois?
- No. SBA lenders can and routinely do lend across state lines, and several of the largest national 7(a) lenders have no branch presence at all. The lenders listed on this page are those with the most approved dollars for projects located in Illinois, wherever they are headquartered.
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
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