Best Elgin, IL SBA Lenders & Rates of 2026
Top SBA 7(a) lenders in Elgin, Illinois ranked by 2025 lending data.
24
SBA Loans Funded
$16M
Total Volume
9.75%
Avg Interest Rate
12
Active Lenders
Looking for an SBA loan in Elgin, Illinois? Based on 2025 FOIA data, 24 SBA 7(a) loans were funded in Elgin totaling $16M. Below are the top lenders and industries receiving SBA funding in your area. See all Illinois SBA lenders for statewide rankings.
Top 12 SBA Lenders in Elgin, IL (2025 Data)
| # | Lender | Loans | Total Approved |
|---|---|---|---|
| 1 | Live Oak Banking Company | 3 | $6M |
| 2 | FWBank | 2 | $4M |
| 3 | Wheaton Bank & Trust Company | 2 | $3M |
| 4 | Pathward National Association | 1 | $750K |
| 5 | BayFirst National Bank | 2 | $650K |
| 6 | CIBC Bank USA | 2 | $606K |
| 7 | The Huntington National Bank | 6 | $576K |
| 8 | Newtek Bank | 1 | $450K |
| 9 | PNC Bank | 1 | $250K |
| 10 | Celtic Bank Corporation | 1 | $150K |
| 11 | U.S. Bank | 2 | $100K |
| 12 | Bank of Hope | 1 | $100K |
Top Industries Funded in Elgin
| Industry | Loans | Total Approved |
|---|---|---|
| Limited-Service Restaurants | 1 | $5M |
| Sheet Metal Work Manufacturing | 2 | $4M |
| Other Specialized Design Services | 2 | $3M |
| General Automotive Repair | 3 | $1M |
| Graphic Design Services | 1 | $750K |
| Data Processing, Hosting, and Related Services | 2 | $606K |
| Electrical Contractors | 1 | $500K |
| Landscaping Services | 1 | $450K |
| Sporting and Recreational Goods and Supplies Merchant Wholesalers | 1 | $250K |
| General Freight Trucking, Long Distance, Truckload | 1 | $165K |
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