Best Illinois SBA Lenders & Rates of 2026

Compare 150 SBA lenders in Illinois. $1.14B funded across 2,381 businesses. Average rate 9.97%. Get matched free.

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Best Illinois SBA Lenders & Rates of 2026

$1.14B
Total Funded

2,381
Loans Approved

$478K
Avg Loan Size

9.97%
Avg Interest Rate

150
Active Lenders

SBA Loans in Illinois

Illinois businesses received $1.14B in SBA 7(a) loan approvals across 2,381 businesses in 2025. With 150 active SBA lenders competing for business in Illinois, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in Illinois is $478K, with rates averaging 9.97%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Top SBA Lenders in Illinois (2025)

Based on official SBA data analyzed by GoSBA Loans, these are the banks that funded the most SBA 7(a) loans to Illinois businesses:

RankLenderVolumeLoansAvg Rate
1Byline Bank$128.0M9610.10%
2The Huntington National Bank$116.2M5489.70%
3Live Oak Banking Company$56.2M569.12%
4Newtek Bank, National Association$49.5M12611.04%
5Northeast Bank$42.6M24510.92%
6U.S. Bank, National Association$38.4M1769.97%
7Merchants Bank of Indiana$34.0M189.42%
8Harvest Small Business Finance, LLC$33.0M3210.06%
9GBank$32.0M118.66%
10Centerstone SBA Lending, Inc.$25.0M189.01%
11FWBank$24.7M199.64%
12JPMorgan Chase Bank, National Association$24.5M7810.43%
13Old National Bank$21.1M208.08%
14Busey Bank$19.1M159.62%
15Readycap Lending, LLC$18.7M7012.65%
16First American Bank$17.0M168.00%
17Village Bank and Trust, National Association$16.1M338.28%
18Port 51 Lending LLC$16.1M119.82%
19Fifth Third Bank$15.9M4710.39%
20VelocitySBA, LLC$15.7M139.94%

🤝 How to Get an SBA Loan in Illinois

Many top SBA lenders work primarily through approved SBA loan brokers. This is good news for borrowers:

  • Better Match: Get matched with the right lender for your situation
  • Negotiating Power: Broker relationships can result in better rates
  • Time Savings: One application goes to multiple lenders
  • Expert Guidance: Maximize your approval chances

GoSBA Loans works with lenders across Illinois and can help you access the best loan programs. Our service is completely free to borrowers.

📞 Get Matched with Illinois SBA Lenders

Ready to apply for an SBA loan in Illinois? Our team can help you get matched with the right lender and program for your business.

Looking for SBA lenders in other states? GoSBA Loans works with 75+ SBA lenders nationwide. Contact us to get matched with the best lender for your specific business needs.

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Ishan Jetley

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.
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