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Illinois · Finance & Insurance
SBA loans for finance & insurance in Illinois
630 loans worth $264.5M approved since FY2010 for finance and insurance projects located in Illinois.
Loans
630
Approved
$264.5M
Median loan
$188,500
-6% vs sector nationally
Median rate
6.50%
Jobs supported
3,414
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 finance & insurance in Illinois
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Live Oak Banking Company | 77 | $49.6M | |
| Byline Bank | 43 | $32.5M | |
| Small Business Growth Corporation | 35 | $15.7M | |
| The Huntington National Bank | 53 | $13.6M | |
| U.S. Bank | 62 | $11.9M | |
| SomerCor 504, Inc. | 29 | $9.7M | |
| Capital Bank | 6 | $9.5M | |
| Village Bank and Trust | 12 | $6.7M |
Detail
Which industries inside the sector
An SBA 7(a) lender for loans this size
The median SBA loan approved for finance & insurance in Illinois since FY2010 was $188,500. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
All SBA lending in Illinois
37,253 loans across every sector.
Finance & Insurance nationally
18,357 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to finance & insurance businesses in Illinois?
- 630 SBA loans totalling $264,479,700 have been approved for finance and insurance projects in Illinois since FY2010.
- Which lenders finance finance & insurance in Illinois?
- The most active by dollars approved are Live Oak Banking Company, Byline Bank, Small Business Growth Corporation, The Huntington National Bank. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for finance & insurance in Illinois?
- The median approval is $188,500, 6% below the national median for this sector ($200,000).
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