Best Chicago, IL SBA Lenders & Rates of 2026

Compare 70 SBA lenders in Chicago, IL. $224.1M funded across 481 businesses. Average rate 10.03%. Get matched free.

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Best Chicago, IL SBA Lenders & Rates of 2026

$224.1M
Total Funded

481
Loans Approved

$466K
Avg Loan Size

10.03%
Avg Interest Rate

70
Active Lenders

SBA Loans in Chicago, IL

Chicago, IL businesses received $224.1M in SBA 7(a) loan approvals across 481 businesses in 2025. With 70 active SBA lenders competing for business in Chicago, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in Chicago is $466K, with rates averaging 10.03%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Chicago SBA Loans by Business Type

🚀 Startups
27%
$64.6M • 128 loans

🏢 Existing Businesses
64%
$104.6M • 309 loans

🔄 Acquisitions
9%
$54.9M • 44 loans

Top SBA Lenders in Chicago, IL (2025)

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

RankLenderVolumeLoansAvg Rate
1 Byline Bank$38.6M2910.14%
2 The Huntington National Bank$19.9M1029.65%
3 Harvest Small Business Finance, LLC$13.4M1610.06%
4 FWBank$12.1M109.65%
5 U.S. Bank, National Association$9.3M429.74%
6 Northeast Bank$7.8M4810.67%
7 Newtek Bank, National Association$6.8M1911.00%
8 Port 51 Lending LLC$6.3M49.56%
9 Millennium Bank$6.2M39.17%
10 JPMorgan Chase Bank, National Association$6.1M2310.33%
11 Old National Bank$6.0M67.86%
12 Libertyville Bank & Trust Company, National Association$5.4M57.64%
13 KeyBank National Association$5.0M29.50%
14 CIBC Bank USA$4.3M59.20%
15 Wells Fargo Bank National Association$4.3M18.35%
16 Fifth Third Bank$3.9M1610.27%
17 First American Bank$3.9M28.16%
18 CenTrust Bank, A Division of SmartBiz Bank National Associat$3.4M410.69%
19 St. Charles Bank & Trust Company, National Association$3.2M27.28%
20 Village Bank and Trust, National Association$3.1M78.31%
21 Wintrust Bank National Association$3.1M27.50%
22 Readycap Lending, LLC$3.1M1812.94%
23 Dogwood State Bank$3.0M39.58%
24 Live Oak Banking Company$2.9M310.50%
25 Monterey County Bank$2.7M19.00%
26 First Business Bank$2.1M29.88%
27 Community Bank & Trust-West Georgia$2.1M110.50%
28 Lendistry SBLC, LLC$2.0M1212.38%
29 Stearns Bank National Association$1.9M310.58%
30 BayFirst National Bank$1.8M1112.02%
31 Centerstone SBA Lending, Inc.$1.8M310.08%
32 VelocitySBA, LLC$1.7M29.88%
33 The Bancorp Bank National Association$1.7M28.63%
34 Cadence Bank$1.6M510.00%
35 Flushing Bank$1.6M110.00%
36 PNC Bank, National Association$1.6M89.16%
37 First Financial Bank$1.4M18.25%
38 Busey Bank$1.3M210.00%
39 Celtic Bank Corporation$1.3M1110.55%
40 Milestone Bank$1.2M19.75%
41 Merchants Bank of Indiana$1.1M19.00%
42 Bank of America, National Association$1.0M45.75%
43 American Community Bank & Trust$1.0M19.00%
44 Truliant FCU$920K110.00%
45 Beverly Bank & Trust Company, National Association$891K48.68%
46 Bank of Utah$879K19.75%
47 Hinsdale Bank & Trust Company, National Association$850K47.68%
48 Heritage Bank Inc$795K110.25%
49 PCB Bank$652K18.00%
50 Midland States Bank$605K19.50%

Top Industries in Chicago

Here are the industries that received the most SBA funding in Chicago:

SBA Loans in Illinois

Chicago is part of Illinois‘s SBA lending market. For statewide data and more lender options, see our full Illinois SBA Lenders guide.

🤝 Why Use an SBA Broker in Chicago?

GoSBA Loans helps Chicago businesses access the best SBA lenders:

  • Access 70+ lenders — including many that don’t accept direct applications
  • Local market expertise — we know which lenders are most active in Chicago
  • Rate comparison — get competing offers to secure the best terms
  • Free service — lenders pay us, you pay nothing extra

📞 Get Expert Help with Your Chicago SBA Loan

Our team has helped hundreds of Chicago businesses secure SBA financing. Let us match you with the right lender.

Looking for SBA loan help in Chicago? GoSBA Loans is a trusted SBA loan broker serving businesses in Chicago and across Illinois. Contact our Chicago SBA specialists today for a free consultation.

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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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