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SBA Lenders Actively Funding Businesses in Illinois

Since 2020, 492 different SBA lenders have approved20,219 loans for businesses in Illinois. The table below ranks the most active by loans actually made in the state, not by advertising budget. A lender headquartered elsewhere that funds heavily in Illinoisbeats a local name that rarely writes SBA loans.

Most active SBA lenders in Illinois

LenderIL loans since 2020Median loanMedian rate
The Huntington National Bank2,885$95K9.5%
Small Business Growth Corporation2,509$483Kn/a
SomerCor 504, Inc.1,583$465Kn/a
U.S. Bank, National Association811$45K8.51%
Byline Bank570$800K9.5%
JPMorgan Chase Bank, National Association500$185K10.65%
JPMorgan Chase Bank, National Association362$640Kn/a
BayFirst National Bank307$150K12.25%
Northeast Bank268$103K10.75%
Live Oak Banking Company252$785K8.35%
Newtek Bank, National Association246$200K11.25%
Readycap Lending, LLC240$150K11.25%
Village Bank and Trust, National Association218$392K7.25%
PNC Bank, National Association178$50K9.4%
Fifth Third Bank172$200K8%
Bank of Springfield163$150K7.5%
Celtic Bank Corporation139$150K10.25%
Bank of America, National Association136$332K6.5%
United Midwest Savings Bank National Association127$150K9.75%
CenTrust Bank, A Division of SmartBiz Bank National Association126$150K11.25%
Lendistry SBLC, LLC120$150K12.25%
First American Bank116$476K6.57%
Harvest Small Business Finance, LLC110$770K9.5%
Old National Bank110$500K7.5%
Merchants Bank of Indiana100$752K8.75%

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Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records. Loan counts reflect projects located in Illinois. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.