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Illinois · Utilities
SBA loans for utilities in Illinois
33 loans worth $17.8M approved since FY2010 for utilities projects located in Illinois.
Loans
33
Approved
$17.8M
Median loan
$350,000
+119% vs sector nationally
Median rate
5.88%
Jobs supported
360
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 utilities in Illinois
| Lender | Loans | Approved | Share |
|---|---|---|---|
| SomerCor 504, Inc. | 4 | $5.3M | |
| Byline Bank | 3 | $3.4M | |
| Busey Bank | 2 | $1.9M | |
| Bank of Belleville | 5 | $1.6M | |
| Community First Bank of the Heartland | 2 | $1.2M | |
| Barrington Bank & Trust Company | 1 | $1.0M | |
| Pathward | 1 | $611K | |
| Readycap Lending, LLC | 1 | $500K |
Detail
Which industries inside the sector
| Industry | Loans | Share |
|---|---|---|
| Water Supply and Irrigation Systems | 10 | |
| Electric Power Distribution | 9 | |
| Natural Gas Distribution | 4 | |
| Other Electric Power Generation | 3 | |
| Steam and Air-Conditioning Supply | 2 | |
| Solar Electric Power Generation | 2 | |
| Sewage Treatment Facilities | 1 | |
| Wind Electric Power Generation | 1 |
An SBA 7(a) lender for loans this size
The median SBA loan approved for utilities in Illinois since FY2010 was $350,000. 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.
Utilities nationally
1,100 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to utilities businesses in Illinois?
- 33 SBA loans totalling $17,808,500 have been approved for utilities projects in Illinois since FY2010.
- Which lenders finance utilities in Illinois?
- The most active by dollars approved are SomerCor 504, Inc., Byline Bank, Busey Bank, Bank of Belleville. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for utilities in Illinois?
- The median approval is $350,000, 119% above the national median for this sector ($160,000).
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