Illinois holds the 5th largest GDP in the U.S. for producing 822.5 billion in 2018. Illinois houses huge companies such as Allstate, Boeing, Kraft Heinz, Mcdonalds, Walgreens, and more. The popular industries in Illinois are hotels, restaurants, gas stations, day care centers, and truck stations.

According to CNBC, Chicago is the 12th best city to build a small business. In fact, there are 1.2 million small businesses in Illinois that estimate 99.6% of all businesses in the state. These small businesses employ 2.5 million people that accounts for 45.5% of all employees in Illinois. Moreover, there are 311,609 small businesses that are minority-owned with 6.2% are females.

One of the challenges businesses face is access to affordable financing. In FY 2018, Illinois SBA loan providers funded 2,033 businesses for total Illinois SBA loan volume of 920,166,140 dollars. The ten most popular lenders signing SBA-backed loans in Texas are Byline Bank, Huntington National, Live Oak, JPMorgan Chase, HomeStar, CenTrust, Millennium Bank, U.S. Bank, Newtek Small Business Finance, and CIBC Bank. These ten lenders have funded 950 businesses with a loan volume of $480,651,360 in total. However, just because these ten lenders are the most popular in Illinois, it doesn’t mean they are the right lenders for your industry and your business size. After reading our analysis, please click apply now and we’d be happy to match you with the best SBA loan providers in Illinois.

Here at GoSBA Loans, we understand the struggle of finding the best and cheapest business loan for your business. We are best at accommodating businesses looking for capital, purchasing equipment, refinancing high-interest loans, and those who are interested in buying commercial property or financing building improvements. We make lending loans for small businesses to have an easier, faster, and more affordable process.

GoSBA Loans is proud to announce the top 50 Illinois SBA lenders in 2024:

You can use our SBA loan calculator to estimate your payments and total financing costs before applying for an SBA loan.

Note: Estimated payments, not including taxes and insurance. Actual payments may vary.

Sounds great? Click on apply now and we’ll match you with the best SBA loan providers in Illinois.