apply for aN Illinois SBA Loan
Last annual update:
Note: On March 31 the Treasury and SBA released important information regarding CARES Act SBA 7(a) loans. We encourage you to read our blog post and act quickly.
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:
| State Rank | Bank | Headquarters | # Loans | Avg Loan |
|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 312 | $175,119 |
| 2 | The Huntington National Bank | Columbus, OH | 254 | $175,045 |
| 3 | JPMorgan Chase Bank | Columbus, OH | 158 | $207,141 |
| 4 | Byline Bank | Chicago, IL | 121 | $988,848 |
| 5 | Fifth Third Bank | Cincinnati, OH | 47 | $106,219 |
| 6 | First Home Bank | Saint Petersburg, FL | 45 | $194,578 |
| 7 | PNC Bank | Wilmington, DE | 43 | $168,479 |
| 8 | United Midwest Savings Bank | De Graff, OH | 34 | $503,647 |
| 9 | Newtek Small Business Finance | Lake Success, NY | 32 | $1,019,578 |
| 10 | Independence Bank | East Greenwich, RI | 32 | $141,406 |
| 11 | Wells Fargo | Sioux Falls, SD | 28 | $572,871 |
| 12 | Stearns Bank | Saint Cloud, MN | 27 | $372,752 |
| 13 | Bank of Hope | Los Angeles, CA | 24 | $100,796 |
| 14 | Live Oak | Wilmington, NC | 23 | $1,265,087 |
| 15 | CenTrust Bank | Northbrook, IL | 23 | $1,128,000 |
| 16 | Celtic Bank | Salt Lake City, UT | 20 | $1,564,980 |
| 17 | Midland-States Bank | Effingham, IL | 20 | $1,364,150 |
| 18 | Hinsdale Bank & Trust Company | Hinsdale, IL | 18 | $656,706 |
| 19 | First American Bank | Elk Grove Village, IL | 17 | $637,941 |
| 20 | First Mid Bank & Trust | Mattoon, IL | 17 | $162,100 |
| 21 | Millennium Bank | Des Plaines, IL | 16 | $1,910,344 |
| 22 | Bank of America | Charlotte, NC | 15 | $354,333 |
| 23 | Busey Bank | Champaign, IL | 14 | $1,114,379 |
| 24 | First Savings Bank | Clarksville, IN | 13 | $922,000 |
| 25 | First Midwest Bank | Chicago, IL | 13 | $495,792 |
apply for aN Illinois SBA Loan