SBA Lenders in Illinois
44 SBA-approved lenders headquartered in Illinois (IL) plus 10 more that actively fund Illinois borrowers. Tell us about your deal and we'll match you with the right capital source.
Who are the top SBA lenders in Illinois?
PeerSense tracks 44 SBA-approved lenders headquartered in Illinois (IL), plus 10 out-of-state lenders that actively fund Illinois borrowers. Top by Illinois-specific volume: Byline Bank, BMO Bank National Association, Busey Bank. Illinois HQ lenders have collectively originated $20.2B in SBA volume.
, PeerSense Capital Advisory · Westfield IN · Updated October 1, 2026
Sources: SBA 7(a) & 504 Loan Data, FDIC BankFind
Top SBA Lenders Headquartered in Illinois
Ranked by total SBA loan activity. Click any bank for the full profile, NAICS specialization, and franchise lending history.
| Lender | State | Activity | Profile |
|---|---|---|---|
| BMO Bank National Association | IL | High Volume | View Profile → |
| Byline Bank | IL | High Volume | View Profile → |
| First American Bank | IL | High Volume | View Profile → |
| Busey Bank | IL | High Volume | View Profile → |
| First Mid Bank & Trust, National Association | IL | High Volume | View Profile → |
| Village Bank and Trust, National Association | IL | Active | View Profile → |
| Midland States Bank | IL | Active | View Profile → |
| Heartland Bank and Trust Company | IL | Active | View Profile → |
| CenTrust Bank, A Division of SmartBiz Bank National Associat | IL | Active | View Profile → |
| Union National Bank | IL | Active | View Profile → |
| CIBC Bank USA | IL | Active | View Profile → |
| Providence Bank & Trust | IL | Active | View Profile → |
| Peoples National Bank National Association | IL | Active | View Profile → |
| Morton Community Bank | IL | Active | View Profile → |
| Millennium Bank | IL | Active | View Profile → |
| Time Bank | IL | Active | View Profile → |
| Bank of Springfield | IL | Active | View Profile → |
| Old Second National Bank | IL | Active | View Profile → |
| Banterra Bank | IL | Active | View Profile → |
| INB, National Association | IL | Active | View Profile → |
BMO Bank National Association
ILByline Bank
ILFirst American Bank
ILBusey Bank
ILFirst Mid Bank & Trust, National Association
ILVillage Bank and Trust, National Association
ILMidland States Bank
ILHeartland Bank and Trust Company
ILCenTrust Bank, A Division of SmartBiz Bank National Associat
ILUnion National Bank
ILCIBC Bank USA
ILProvidence Bank & Trust
ILPeoples National Bank National Association
ILMorton Community Bank
ILMillennium Bank
ILTime Bank
ILBank of Springfield
ILOld Second National Bank
ILBanterra Bank
ILINB, National Association
ILOut-of-State Lenders Actively Funding Illinois Borrowers
National banks and multi-state regionals frequently fund Illinois deals at competitive rates, often with faster underwriting than local-only banks. Ranked by Illinois-specific SBA volume.
GBank
HQ NV · 57 IL loans · $159.6M IL volume
Live Oak Banking Company
HQ NC · 87 IL loans · $111.2M IL volume
JPMorgan Chase Bank, National Association
HQ OH · 245 IL loans · $50.4M IL volume
First Internet Bank of Indiana
HQ IN · 50 IL loans · $44.3M IL volume
Merchants Bank of Indiana
HQ IN · 29 IL loans · $43.8M IL volume
OakStar Bank
HQ MO · 42 IL loans · $36.5M IL volume
Old National Bank
HQ IN · 65 IL loans · $27.5M IL volume
LendingClub Bank, National Association
HQ UT · 24 IL loans · $27.3M IL volume
Popular Bank
HQ NY · 111 IL loans · $26.6M IL volume
Fifth Third Bank
HQ OH · 98 IL loans · $24.0M IL volume
Looking for an SBA Lender in Illinois?
PeerSense matches your deal with the right capital source from our network of 44+ Illinois lenders and hundreds more nationwide. Referral fee established upfront and paid at closing.
SBA Lending in Illinois
Illinois is home to 44 SBA-approved lenders that have collectively originated $20.2B in SBA loan volume. These lenders serve businesses across the state through the SBA 7(a) and 504 loan programs, providing financing for acquisitions, commercial real estate, equipment, and working capital.
Whether you're acquiring a business in Illinois, expanding an existing operation, or purchasing commercial property, SBA financing offers competitive terms with government-backed guarantees. PeerSense analyzes each lender's activity, deal preferences, and specializations to help you find the best fit.
How PeerSense Helps Illinois Borrowers
We're a commercial lending advisory firm headquartered in Westfield, Indiana. We structure and place deals across SBA, CMBS, private credit, equipment financing, and more. Our team reviews your transaction, identifies the right capital sources, and makes warm introductions to lenders actively funding deals like yours. Most clients hear back from a PeerSense advisor after the file is on the desk.
Talk to PeerSense about SBA capital in Illinois.
Tell us your loan amount and use of funds. PeerSense sources capital for a Illinois deal, local or national.
SBA 7(a) / 504: The desk will reach out. No obligation.
Other Capital Programs for Illinois Borrowers
PeerSense covers the full commercial capital stack for Illinois operators, beyond SBA. Compare current rates and structures.
Originator warehouse
$100M a monthFocus $100 million a month. Will look at $10 million a month. $10 million is not the focus.
Invoice Factoring
0.5–3.5% / 30dB2B invoices from $20 million a month. Advance 80 to 95 percent of face.
CMBS Conduit
5.60–7.10%10 year Non Recourse fixed, $10 million and up, fully assumable
Bridge Loans
9.00–14.00%$10 million and up. Cash in about 35 percent. Name the takeout first.
Data Center
CRS to 89%$1 billion to $30 billion plus. Signed or guaranteed hyperscaler lease.
Contracted revenue sale
Up to 89%15 year lease signed or guaranteed by a hyperscaler. Size follows the lease.
Hotel Financing
SearchHotel is search only. Public floor $10 million and up. Cash in about 35 percent.
Private Credit
7.80–18.00%Non-bank flexibility. Public CRE floor $10 million and up.
DSCR Investor
SearchSearch path. Public CRE floor $10 million and up.
Indicative only, as of September 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
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