Illinois · Education
SBA loans for education in Illinois
528 loans worth $255.0M approved since FY2010 for educational services projects located in Illinois.
Loans
528
Approved
$255.0M
Median loan
$200,000
+33% vs sector nationally
Median rate
6.75%
Jobs supported
7,199
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.
Lenders
Who lends to education in Illinois
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Byline Bank | 22 | $31.6M | |
| SomerCor 504, Inc. | 38 | $31.3M | |
| Small Business Growth Corporation | 36 | $20.4M | |
| U.S. Bank | 25 | $14.4M | |
| JPMorgan Chase Bank | 70 | $13.2M | |
| The Huntington National Bank | 43 | $11.8M | |
| Village Bank and Trust | 16 | $10.9M | |
| First Merchants Bank | 8 | $8.3M |
Detail
Which industries inside the sector
All SBA lending in Illinois
37,253 loans across every sector.
Education nationally
15,349 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to education businesses in Illinois?
- 528 SBA loans totalling $255,043,500 have been approved for educational services projects in Illinois since FY2010.
- Which lenders finance education in Illinois?
- The most active by dollars approved are Byline Bank, SomerCor 504, Inc., Small Business Growth Corporation, U.S. Bank. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for education in Illinois?
- The median approval is $200,000, 33% above the national median for this sector ($150,000).
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