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County1st of 92 in Illinois by approvalsFIPS 17031
SBA loans in Cook County, Illinois
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 5,797 loans to businesses in Cook County, Illinois, in FY2021 to FY2025, worth $3.07bn: 5,106 under 7(a) and 691 under 504.
That is 43.1 approvals per 1,000 business establishments (134,513 establishments in 2023), close to the Illinois figure of 38.5 and close to the national 41.0.
It ranks 1st of 92 Illinois counties with approvals. In FY2025 there were 1,524, up 15% on FY2024.
182 lenders had approvals here; the most active were The Huntington National Bank (1,620), Small Business Growth Corporation (360) and U.S. Bank, National Association (357). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Cook County
By number of approvals to businesses in the county, FY2021–FY2025; 182 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 1,620 | $293M | 27.9% | |
| 2 | Small Business Growth CorporationSpringfield, IL · CDC | 360 | $337M | 6.2% | |
| 3 | U.S. Bank, National AssociationCincinnati, OH | 357 | $61.9M | 6.2% | |
| 4 | SomerCor 504, Inc.Chicago, IL · CDC | 297 | $256M | 5.1% | |
| 5 | Byline BankChicago, IL | 264 | $312M | 4.6% | |
| 6 | JPMorgan Chase Bank, National AssociationColumbus, OH | 243 | $64.7M | 4.2% | |
| 7 | Northeast BankLewiston, ME | 222 | $35.0M | 3.8% | |
| 8 | BayFirst National BankSaint Petersburg, FL | 157 | $22.4M | 2.7% | |
| 9 | Newtek Bank, National AssociationMiami, FL | 144 | $65.4M | 2.5% | |
| 10 | Readycap Lending, LLCBerkeley Heights, NJ | 132 | $35.0M | 2.3% | |
| 11 | Village Bank and Trust, National AssociationArlington Heights, IL | 105 | $64.7M | 1.8% | |
| 12 | Fifth Third BankCincinnati, OH | 100 | $43.4M | 1.7% | |
| 13 | PNC Bank, National AssociationWilmington, DE | 87 | $27.5M | 1.5% | |
| 14 | Bank of America, National AssociationCharlotte, NC | 84 | $35.0M | 1.4% | |
| 15 | Live Oak Banking CompanyWilmington, NC | 74 | $94.0M | 1.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 655 | 11.3% | |
| 2 | General Freight TruckingNAICS 4841 | 570 | 9.8% | |
| 3 | Personal Care ServicesNAICS 8121 | 199 | 3.4% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 179 | 3.1% | |
| 5 | Offices of Other Health PractitionersNAICS 6213 | 166 | 2.9% | |
| 6 | Residential Building ConstructionNAICS 2361 | 161 | 2.8% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 156 | 2.7% | |
| 8 | Child Day Care ServicesNAICS 6244 | 146 | 2.5% | |
| 9 | Building Equipment ContractorsNAICS 2382 | 118 | 2.0% | |
| 10 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 118 | 2.0% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 799 | 13.8% | |
| 2 | Transportation and Warehousing | 751 | 13.0% | |
| 3 | Construction | 583 | 10.1% | |
| 4 | Professional, Scientific, and Technical Services | 571 | 9.8% | |
| 5 | Other Services (except Public Administration) | 569 | 9.8% | |
| 6 | Health Care and Social Assistance | 568 | 9.8% | |
| 7 | Retail Trade | 549 | 9.5% | |
| 8 | Manufacturing | 374 | 6.5% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 588 | $296M | $200K | 70 | $75.6M | 658 | 6,880 |
| FY2025 | 1,413 | $634M | $150K | 111 | $108M | 1,524 | 15,562 |
| FY2024 | 1,208 | $508M | $150K | 112 | $118M | 1,320 | 14,493 |
| FY2023 | 945 | $445M | $150K | 117 | $90.5M | 1,062 | 12,039 |
| FY2022 | 784 | $381M | $165K | 202 | $179M | 986 | 10,602 |
| FY2021 | 756 | $487M | $336K | 149 | $123M | 905 | 12,552 |
| FY2020 | 695 | $383M | $200K | 119 | $82.5M | 814 | 9,936 |
| FY2019 | 901 | $425M | $160K | 108 | $74.3M | 1,009 | 13,455 |
| FY2018 | 975 | $389M | $145K | 115 | $76.9M | 1,090 | 10,467 |
| FY2017 | 885 | $369M | $160K | 106 | $84.7M | 991 | 11,212 |
| FY2016 | 888 | $361M | $158K | 113 | $78.9M | 1,001 | 13,653 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 4,905 approvals.
Against Illinois and the country
| FY2021–FY2025 | Cook County | Illinois | United States |
|---|---|---|---|
| Approvals | 5,797 | 12,417 | 342,825 |
| Approvals per 1,000 establishments | 43.1 | 38.5 | 41.0 |
| Median 7(a) approval | $158K | $200K | $190K |
| Median 504 approval | $553K | $578K | $657K |
| Average approval | $530K | $581K | $573K |
| 504 share of approvals | 11.9% | 14.2% | 11.0% |
| Jobs supported per approval, as reported | 11.3 | 11.4 | 10.5 |
| Share of state approvals | 46.7% | 100.0% | — |
Approval sizes
- $50,000 or less22.5%1,307
- $50,001 to $150,00021.9%1,271
- $150,001 to $350,00019.7%1,141
- $350,001 to $1 million21.8%1,262
- $1 million to $2 million8.2%474
- Over $2 million5.9%342
Age of the businesses
- Existing, more than 2 years old68.4%3,963
- New business, 2 years or less11.6%673
- Startup, loan funds will open the business13.3%769
- Change of ownership6.7%390
- Not answered0.0%2
Questions and answers
Which lenders make the most SBA loans in Cook County?
By approvals in FY2021 to FY2025: The Huntington National Bank (1,620), Small Business Growth Corporation (360), U.S. Bank, National Association (357), SomerCor 504, Inc. (297), Byline Bank (264). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Cook County?
The median 7(a) approval was $158K and the median 504 approval $553K; the Illinois 7(a) median was $200K.
Which industries get the most SBA loans in Cook County?
Restaurants and Other Eating Places (655); General Freight Trucking (570); Personal Care Services (199); Automotive Repair and Maintenance (179); Offices of Other Health Practitioners (166).
Is SBA lending in Cook County rising?
Approvals in the three latest complete fiscal years total 3,906, against 2,705 in the three before: rising (+44%).
How does Cook County compare with the rest of Illinois?
43.1 approvals per 1,000 establishments against 38.5 statewide, and 5,797 of the state's 12,417 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error