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Top Illinois PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | JPMorgan Chase Bank | 19,870 |
| 2 | Cross River Bank | 13,965 |
| 3 | Kabbage | 12,915 |
| 4 | BMO Harris Bank National Association | 8,073 |
| 5 | Bank of America | 7,334 |
| 6 | Fifth Third Bank | 7,267 |
| 7 | U.S. Bank | 7,179 |
| 8 | Celtic Bank Corporation | 7,097 |
| 9 | First Midwest Bank | 4,421 |
| 10 | WebBank | 4,133 |
Quite a few Illinois-based banks were among the largest lenders to “Prairie State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in Illinois:
Most active SBA lenders in Illinois
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 312 | $175,119 | 8.0% |
| 2 | The Huntington National Bank | Columbus, OH | 254 | $175,045 | 7.2% |
| 3 | JPMorgan Chase Bank | Columbus, OH | 158 | $207,141 | 8.8% |
| 4 | Byline Bank | Chicago, IL | 121 | $988,848 | 7.9% |
| 5 | Fifth Third Bank | Cincinnati, OH | 47 | $106,219 | 8.7% |
| 6 | First Home Bank | Saint Petersburg, FL | 45 | $194,578 | 8.0% |
| 7 | PNC Bank | Wilmington, DE | 43 | $168,479 | 8.1% |
| 8 | United Midwest Savings Bank | De Graff, OH | 34 | $503,647 | 8.0% |
| 9 | Newtek Small Business Finance | Lake Success, NY | 32 | $1,019,578 | 8.1% |
| 10 | Independence Bank | East Greenwich, RI | 32 | $141,406 | 5.7% |
| 11 | Wells Fargo | Sioux Falls, SD | 28 | $572,871 | 7.2% |
| 12 | Stearns Bank | Saint Cloud, MN | 27 | $372,752 | 8.1% |
| 13 | Bank of Hope | Los Angeles, CA | 24 | $100,796 | 7.7% |
| 14 | Live Oak | Wilmington, NC | 23 | $1,265,087 | 6.9% |
| 15 | CenTrust Bank | Northbrook, IL | 23 | $1,128,000 | 8.1% |
| 16 | Celtic Bank | Salt Lake City, UT | 20 | $1,564,980 | 7.6% |
| 17 | Midland States Bank | Effingham, IL | 20 | $1,364,150 | 7.3% |
| 18 | Hinsdale Bank & Trust Company | Hinsdale, IL | 18 | $656,706 | 6.3% |
| 19 | First American Bank | Elk Grove Village, IL | 17 | $637,941 | 6.1% |
| 20 | First Mid Bank & Trust | Mattoon, IL | 17 | $162,100 | 6.9% |
Traditional small biz loan inquiry
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PPP loan activity data: CARES Act from March – August 2020. Does not include 2021 PPP loans.