SBA Lenders in Illinois
Top lenders ranked by real SBA lending data. See who's most active in Illinois across deal count, loan size, and pricing.
What Borrowers Should Know
Illinois lenders are pricing 7(a) loans 56 basis points cheaper than the national median (P+2.19% vs. P+2.75%). This 0.56% spread advantage means a $300,000 loan saves you roughly $1,680 annually in interest costs. The competitive landscape with 305 active lenders is driving down rates—shop aggressively to capture this pricing edge.
Three mega-lenders (U.S. Bank, JPMorgan Chase, and Huntington National) control 1,383 of 4,014 deals—34.5% of the market. While deep capital and infrastructure suggest reliability, this concentration means smaller lenders handle most remaining volume. If rejected by the Big Three, you have 302 other options; don't let one 'no' derail your application.
The average deal size of $322,616 is relatively modest, suggesting Illinois SBA lending skews toward true small businesses rather than growth-stage firms. If you're seeking $400,000+, expect to stand out—you'll likely face higher scrutiny but less competition for capital than sub-$250,000 borrowers.
Total SBA Loans
4,011
Active Lenders
236
Avg Deal Size
$323K
Total Volume
$1.3B
Top 10 Lenders in Illinois
Ranked by total deal count across all SBA programs.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | Bank | 522 | $91K | P + 2.25%GOOD | |
| 2 | JPMorgan Chase Bank, National Association | Bank | 471 | $122K | P + 2.36%AVERAGE | |
| 3 | The Huntington National Bank | Bank | 422 | $150K | P + 2.00%GOOD | |
| 4 | Small Business Growth Corporat | CDC/504 | 277 | $512K | — | |
| 5 | SomerCor 504, Inc. | Bank | 117 | $531K | P + 3.00%ABOVE AVG | |
| 6 | Village Bank and Trust, National Association | Bank | 114 | $416K | P + 1.50%COMPETITIVE | |
| 7 | First American Bank | Bank | 92 | $609K | P + 1.13%COMPETITIVE | |
| 8 | Byline Bank | Bank | 78 | $726K | P + 2.75%AVERAGE | |
| 9 | Fifth Third Bank | Bank | 76 | $421K | P + 1.81%GOOD | |
| 10 | First Mid Bank & Trust, National Association | Bank | 70 | $227K | P + 1.75%GOOD |
Top Industries in Illinois
SBA lending activity by industry segment.