Last annual update:
Find me a Lender
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% |
Find me a Lender
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 |
Top Illinois PPP lenders (loans >$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | JPMorgan Chase Bank | 2,704 |
| 2 | Fifth Third Bank | 1,663 |
| 3 | BMO Harris Bank National Association | 1,410 |
| 4 | First Midwest Bank | 1,231 |
| 5 | Wintrust Bank | 833 |
| 6 | Bank of America | 743 |
| 7 | Byline Bank | 741 |
| 8 | PNC Bank | 719 |
| 9 | CIBC Bank USA | 718 |
| 10 | Busey Bank | 646 |
Note: Illinois PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.