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County15th of 92 in Illinois by approvalsFIPS 17143
SBA loans in Peoria 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 71 loans to businesses in Peoria County, Illinois, in FY2021 to FY2025, worth $54.5M: 58 under 7(a) and 13 under 504.
That is 17.0 approvals per 1,000 business establishments (4,168 establishments in 2023), below the Illinois figure of 38.5 and below the national 41.0.
It ranks 15th of 92 Illinois counties with approvals. In FY2025 there were 23.
35 lenders had approvals here; the most active were Morton Community Bank (10), Small Business Growth Corporation (5) and SomerCor 504, Inc. (4). 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 Peoria County
By number of approvals to businesses in the county, FY2021–FY2025; 35 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Morton Community BankMorton, IL | 10 | $1.4M | 14.1% | |
| 2 | Small Business Growth CorporationSpringfield, IL · CDC | 5 | $2.8M | 7.0% | |
| 3 | SomerCor 504, Inc.Chicago, IL · CDC | 4 | $5.6M | 5.6% | |
| 4 | First Mid Bank & Trust, National AssociationMattoon, IL | 4 | $1.2M | 5.6% | |
| 5 | Busey BankChampaign, IL | 3 | $5.2M | 4.2% | |
| 6 | Illinois Business Financial ServicesPeoria, IL · CDC | 3 | $1.3M | 4.2% | |
| 7 | Newtek Bank, National AssociationMiami, FL | 3 | $845K | 4.2% | |
| 8 | The Huntington National BankColumbus, OH | 3 | $629K | 4.2% | |
| 9 | Northeast BankLewiston, ME | 3 | $271K | 4.2% | |
| 10 | Fortress BankPeoria, IL | 2 | — | 2.8% | |
| 11 | Millennium BankDes Plaines, IL | 2 | — | 2.8% | |
| 12 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 2.8% | |
| 13 | Midland States BankEffingham, IL | 2 | — | 2.8% | |
| 14 | Newtek Small Business Finance, Inc.Lake Success, NY | 2 | — | 2.8% | |
| 15 | United Midwest Savings Bank National AssociationDe Graff, OH | 2 | — | 2.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 16 | 22.5% | |
| 2 | Traveler AccommodationNAICS 7211 | 9 | 12.7% | |
| 3 | Jewelry, Luggage, and Leather Goods RetailersNAICS 4583 | 3 | 4.2% | |
| 4 | Beer, Wine, and Liquor StoresNAICS 4453 | 3 | 4.2% | |
| 5 | Residential Building ConstructionNAICS 2361 | 3 | 4.2% | |
| 6 | Offices of DentistsNAICS 6212 | 2 | 2.8% | |
| 7 | General Freight TruckingNAICS 4841 | 2 | 2.8% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 2.8% | |
| 9 | Offices of Other Health PractitionersNAICS 6213 | 2 | 2.8% | |
| 10 | Computer Systems Design and Related ServicesNAICS 5415 | 2 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 28 | 39.4% | |
| 2 | Health Care and Social Assistance | 9 | 12.7% | |
| 3 | Retail Trade | 8 | 11.3% | |
| 4 | Construction | 6 | 8.5% | |
| 5 | Professional, Scientific, and Technical Services | 4 | 5.6% | |
| 6 | Real Estate and Rental and Leasing | 3 | 4.2% | |
| 7 | Manufacturing | 3 | 4.2% | |
| 8 | Other Services (except Public Administration) | 2 | 2.8% |
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* | 14 | $17.9M | $625K | 0 | — | 14 | 122 |
| FY2025 | 20 | $13.3M | $240K | 3 | $5.0M | 23 | 382 |
| FY2024 | 8 | $4.6M | $225K | 1 | — | 9 | 65 |
| FY2023 | 8 | $5.6M | $227K | 1 | — | 9 | 81 |
| FY2022 | 12 | $11.2M | $298K | 4 | $2.4M | 16 | 192 |
| FY2021 | 10 | $9.5M | $333K | 4 | $1.8M | 14 | 185 |
| FY2020 | 8 | $7.2M | $718K | 4 | $4.1M | 12 | 212 |
| FY2019 | 7 | $1.7M | $84K | 2 | — | 9 | 65 |
| FY2018 | 24 | $12.9M | $204K | 1 | — | 25 | 378 |
| FY2017 | 10 | $5.9M | $203K | 7 | $7.6M | 17 | 235 |
| FY2016 | 13 | $4.4M | $230K | 7 | $5.0M | 20 | 268 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 83 approvals.
Against Illinois and the country
| FY2021–FY2025 | Peoria County | Illinois | United States |
|---|---|---|---|
| Approvals | 71 | 12,417 | 342,825 |
| Approvals per 1,000 establishments | 17.0 | 38.5 | 41.0 |
| Median 7(a) approval | $288K | $200K | $190K |
| Median 504 approval | $589K | $578K | $657K |
| Average approval | $768K | $581K | $573K |
| 504 share of approvals | 18.3% | 14.2% | 11.0% |
| Jobs supported per approval, as reported | 12.7 | 11.4 | 10.5 |
| Share of state approvals | 0.6% | 100.0% | — |
Approval sizes
- $50,000 or less11.3%8
- $50,001 to $150,00021.1%15
- $150,001 to $350,00023.9%17
- $350,001 to $1 million19.7%14
- $1 million to $2 million7.0%5
- Over $2 million16.9%12
Age of the businesses
- Existing, more than 2 years old47.9%34
- New business, 2 years or less11.3%8
- Startup, loan funds will open the business28.2%20
- Change of ownership12.7%9
Questions and answers
Which lenders make the most SBA loans in Peoria County?
By approvals in FY2021 to FY2025: Morton Community Bank (10), Small Business Growth Corporation (5), SomerCor 504, Inc. (4), First Mid Bank & Trust, National Association (4), Busey Bank (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Peoria County?
The median 7(a) approval was $288K and the median 504 approval $589K; the Illinois 7(a) median was $200K.
Which industries get the most SBA loans in Peoria County?
Restaurants and Other Eating Places (16); Traveler Accommodation (9); Jewelry, Luggage, and Leather Goods Retailers (3); Beer, Wine, and Liquor Stores (3); Residential Building Construction (3).
Is SBA lending in Peoria County rising?
Approvals in the three latest complete fiscal years total 41, against 42 in the three before: broadly level (-2%).
How does Peoria County compare with the rest of Illinois?
17.0 approvals per 1,000 establishments against 38.5 statewide, and 71 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