In fiscal years 2021–2026, 311 lenders made 11,971 SBA loans in Illinois, totaling $6.3 billion. The average loan was $522,716, and 30% went to startups or businesses under two years old.
By program: 7,785 7(a) loans, 4,186 SBA Express and 0 504 (counting both the CDC and partner bank on each project).
Top 10 most active SBA lenders in Illinois
| # | Lender | SBA loans | Average | To startups | Programs |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank Columbus, OH | 3,021 | $206,595 | 34% | 7(a), Express |
| 2 | U.S. Bank, National Association Cincinnati, OH | 838 | $196,019 | 33% | 7(a), Express |
| 3 | Byline Bank Chicago, IL | 551 | $1,267,165 | 37% | 7(a), Express |
| 4 | Northeast Bank Lewiston, ME | 548 | $159,118 | 9% | 7(a) |
| 5 | JPMorgan Chase Bank, National Association Columbus, OH | 443 | $247,881 | 7% | 7(a), Express |
| 6 | Newtek Bank, National Association Miami, FL | 409 | $391,075 | 20% | 7(a), Express |
| 7 | BayFirst National Bank Saint Petersburg, FL | 306 | $168,892 | 1% | 7(a), Express |
| 8 | Readycap Lending, LLC Berkeley Heights, NJ | 275 | $283,611 | 13% | 7(a), Express |
| 9 | Live Oak Banking Company Wilmington, NC | 243 | $1,368,572 | 24% | 7(a), Express |
| 10 | Village Bank and Trust, National Association Arlington Heights, IL | 205 | $665,038 | 27% | 7(a), Express |
Lenders that fund the most startups in Illinois
- The Huntington National Bank — 1,022 startup loans (34% of its loans)
- U.S. Bank, National Association — 277 startup loans (33% of its loans)
- Byline Bank — 204 startup loans (37% of its loans)
- United Midwest Savings Bank National Association — 101 startup loans (85% of its loans)
- Newtek Bank, National Association — 80 startup loans (20% of its loans)
SBA loans by industry in Illinois
- Restaurants & Lodging1,616 loans
- Trucking & Transportation1,426 loans
- Construction1,337 loans
- Retail Stores1,228 loans
- Personal Services & Repair1,191 loans
- Health Care1,077 loans
- Professional Services1,052 loans
- Manufacturing767 loans
- Cleaning, Landscaping & Admin616 loans
- Wholesale & Distribution483 loans
- Fitness & Entertainment454 loans
- Real Estate & Rental239 loans
- Education & Childcare142 loans
- Media & Technology86 loans
- Agriculture & Fishing36 loans
Related guides
Frequently asked questions
Which lenders make the most SBA loans in Illinois?
Based on public SBA data for fiscal years 2021–2026, the most active were The Huntington National Bank, U.S. Bank, National Association, Byline Bank. Also compare their average loan size and how much they lend to startups.
How many SBA loans were made in Illinois?
11,971 SBA loans totaling $6.3 billion in fiscal years 2021–2026, with an average of $522,716.
Can I get an SBA loan in Illinois with a green card?
No. Since March 2026, all owners must be U.S. citizens or nationals for SBA 7(a) and 504 loans. CDFIs and some credit unions are good alternatives.
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Data: approved loans published by the SBA. Past lending does not guarantee your approval. We are not a lender and are not affiliated with the SBA.