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County6th of 92 in Illinois by approvalsFIPS 17111
SBA loans in McHenry 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 424 loans to businesses in McHenry County, Illinois, in FY2021 to FY2025, worth $253M: 351 under 7(a) and 73 under 504.
That is 52.1 approvals per 1,000 business establishments (8,140 establishments in 2023), above the Illinois figure of 38.5 and above the national 41.0.
It ranks 6th of 92 Illinois counties with approvals. In FY2025 there were 100, about level with FY2024.
64 lenders had approvals here; the most active were The Huntington National Bank (102), Small Business Growth Corporation (45) and SomerCor 504, Inc. (26). The most common industry was general freight trucking.
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 McHenry County
By number of approvals to businesses in the county, FY2021–FY2025; 64 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 102 | $20.8M | 24.1% | |
| 2 | Small Business Growth CorporationSpringfield, IL · CDC | 45 | $28.0M | 10.6% | |
| 3 | SomerCor 504, Inc.Chicago, IL · CDC | 26 | $21.1M | 6.1% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 18 | $3.8M | 4.2% | |
| 5 | Northeast BankLewiston, ME | 18 | $1.8M | 4.2% | |
| 6 | Live Oak Banking CompanyWilmington, NC | 14 | $28.8M | 3.3% | |
| 7 | Byline BankChicago, IL | 14 | $25.1M | 3.3% | |
| 8 | Union National BankElgin, IL | 11 | $3.5M | 2.6% | |
| 9 | Old National BankEvansville, IN | 9 | $11.8M | 2.1% | |
| 10 | Crystal Lake Bank & Trust Company, National AssociationCrystal Lake, IL | 9 | $4.3M | 2.1% | |
| 11 | Merchants Bank of IndianaCarmel, IN | 8 | $9.5M | 1.9% | |
| 12 | Celtic Bank CorporationSalt Lake City, UT | 8 | $7.2M | 1.9% | |
| 13 | American Community Bank & TrustWoodstock, IL | 8 | $5.6M | 1.9% | |
| 14 | Village Bank and Trust, National AssociationArlington Heights, IL | 8 | $4.9M | 1.9% | |
| 15 | BayFirst National BankSaint Petersburg, FL | 7 | $1.1M | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 50 | 11.8% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 49 | 11.6% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 22 | 5.2% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 14 | 3.3% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 13 | 3.1% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 13 | 3.1% | |
| 7 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 12 | 2.8% | |
| 8 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 11 | 2.6% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 11 | 2.6% | |
| 10 | Other Specialty Trade ContractorsNAICS 2389 | 10 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 62 | 14.6% | |
| 2 | Construction | 57 | 13.4% | |
| 3 | Accommodation and Food Services | 53 | 12.5% | |
| 4 | Other Services (except Public Administration) | 46 | 10.8% | |
| 5 | Health Care and Social Assistance | 44 | 10.4% | |
| 6 | Retail Trade | 42 | 9.9% | |
| 7 | Manufacturing | 31 | 7.3% | |
| 8 | Professional, Scientific, and Technical Services | 25 | 5.9% |
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* | 42 | $30.1M | $177K | 11 | $16.4M | 53 | 521 |
| FY2025 | 85 | $41.8M | $175K | 15 | $12.9M | 100 | 1,100 |
| FY2024 | 88 | $47.8M | $150K | 8 | $6.8M | 96 | 1,132 |
| FY2023 | 67 | $38.1M | $300K | 9 | $7.0M | 76 | 898 |
| FY2022 | 60 | $44.2M | $281K | 24 | $17.0M | 84 | 874 |
| FY2021 | 51 | $30.9M | $290K | 17 | $6.8M | 68 | 693 |
| FY2020 | 39 | $25.7M | $150K | 5 | $3.3M | 44 | 642 |
| FY2019 | 67 | $20.5M | $150K | 11 | $7.8M | 78 | 805 |
| FY2018 | 42 | $18.0M | $143K | 13 | $7.4M | 55 | 489 |
| FY2017 | 54 | $19.0M | $164K | 15 | $6.0M | 69 | 661 |
| FY2016 | 65 | $25.6M | $190K | 12 | $5.9M | 77 | 617 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 323 approvals.
Against Illinois and the country
| FY2021–FY2025 | McHenry County | Illinois | United States |
|---|---|---|---|
| Approvals | 424 | 12,417 | 342,825 |
| Approvals per 1,000 establishments | 52.1 | 38.5 | 41.0 |
| Median 7(a) approval | $240K | $200K | $190K |
| Median 504 approval | $412K | $578K | $657K |
| Average approval | $597K | $581K | $573K |
| 504 share of approvals | 17.2% | 14.2% | 11.0% |
| Jobs supported per approval, as reported | 11.1 | 11.4 | 10.5 |
| Share of state approvals | 3.4% | 100.0% | — |
Approval sizes
- $50,000 or less17.5%74
- $50,001 to $150,00020.8%88
- $150,001 to $350,00021.7%92
- $350,001 to $1 million25.5%108
- $1 million to $2 million7.1%30
- Over $2 million7.5%32
Age of the businesses
- Existing, more than 2 years old59.7%253
- New business, 2 years or less11.3%48
- Startup, loan funds will open the business15.6%66
- Change of ownership13.4%57
Questions and answers
Which lenders make the most SBA loans in McHenry County?
By approvals in FY2021 to FY2025: The Huntington National Bank (102), Small Business Growth Corporation (45), SomerCor 504, Inc. (26), U.S. Bank, National Association (18), Northeast Bank (18). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in McHenry County?
The median 7(a) approval was $240K and the median 504 approval $412K; the Illinois 7(a) median was $200K.
Which industries get the most SBA loans in McHenry County?
General Freight Trucking (50); Restaurants and Other Eating Places (49); Automotive Repair and Maintenance (22); Offices of Other Health Practitioners (14); Building Equipment Contractors (13).
Is SBA lending in McHenry County rising?
Approvals in the three latest complete fiscal years total 272, against 196 in the three before: rising (+39%).
How does McHenry County compare with the rest of Illinois?
52.1 approvals per 1,000 establishments against 38.5 statewide, and 424 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