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County4th of 92 in Illinois by approvalsFIPS 17197
SBA loans in Will 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 762 loans to businesses in Will County, Illinois, in FY2021 to FY2025, worth $473M: 636 under 7(a) and 126 under 504.
That is 44.6 approvals per 1,000 business establishments (17,085 establishments in 2023), above the Illinois figure of 38.5 and close to the national 41.0.
It ranks 4th of 92 Illinois counties with approvals. In FY2025 there were 196, up 10% on FY2024.
98 lenders had approvals here; the most active were The Huntington National Bank (230), Small Business Growth Corporation (80) and U.S. Bank, National Association (37). 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 Will County
By number of approvals to businesses in the county, FY2021–FY2025; 98 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 230 | $44.3M | 30.2% | |
| 2 | Small Business Growth CorporationSpringfield, IL · CDC | 80 | $86.1M | 10.5% | |
| 3 | U.S. Bank, National AssociationCincinnati, OH | 37 | $8.3M | 4.9% | |
| 4 | SomerCor 504, Inc.Chicago, IL · CDC | 36 | $60.6M | 4.7% | |
| 5 | Northeast BankLewiston, ME | 36 | $4.6M | 4.7% | |
| 6 | JPMorgan Chase Bank, National AssociationColumbus, OH | 27 | $5.2M | 3.5% | |
| 7 | Byline BankChicago, IL | 24 | $37.2M | 3.1% | |
| 8 | Newtek Bank, National AssociationMiami, FL | 23 | $8.2M | 3.0% | |
| 9 | BayFirst National BankSaint Petersburg, FL | 19 | $2.7M | 2.5% | |
| 10 | Bank of America, National AssociationCharlotte, NC | 15 | $4.3M | 2.0% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 12 | $2.4M | 1.6% | |
| 12 | Busey BankChampaign, IL | 11 | $9.3M | 1.4% | |
| 13 | PNC Bank, National AssociationWilmington, DE | 10 | $1.3M | 1.3% | |
| 14 | Live Oak Banking CompanyWilmington, NC | 9 | $8.5M | 1.2% | |
| 15 | Village Bank and Trust, National AssociationArlington Heights, IL | 8 | $6.8M | 1.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 140 | 18.4% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 76 | 10.0% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 37 | 4.9% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 36 | 4.7% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 26 | 3.4% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 22 | 2.9% | |
| 7 | Personal Care ServicesNAICS 8121 | 22 | 2.9% | |
| 8 | Traveler AccommodationNAICS 7211 | 17 | 2.2% | |
| 9 | Other Personal ServicesNAICS 8129 | 15 | 2.0% | |
| 10 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 14 | 1.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 164 | 21.5% | |
| 2 | Accommodation and Food Services | 100 | 13.1% | |
| 3 | Other Services (except Public Administration) | 84 | 11.0% | |
| 4 | Construction | 84 | 11.0% | |
| 5 | Retail Trade | 62 | 8.1% | |
| 6 | Manufacturing | 50 | 6.6% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 49 | 6.4% | |
| 8 | Health Care and Social Assistance | 48 | 6.3% |
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* | 82 | $35.0M | $150K | 13 | $28.6M | 95 | 1,128 |
| FY2025 | 172 | $57.1M | $143K | 24 | $34.3M | 196 | 1,678 |
| FY2024 | 164 | $57.0M | $130K | 14 | $26.3M | 178 | 1,324 |
| FY2023 | 133 | $76.3M | $200K | 25 | $43.4M | 158 | 1,776 |
| FY2022 | 92 | $57.5M | $150K | 34 | $33.3M | 126 | 1,202 |
| FY2021 | 75 | $61.9M | $425K | 29 | $26.4M | 104 | 1,326 |
| FY2020 | 85 | $64.6M | $250K | 19 | $16.8M | 104 | 1,045 |
| FY2019 | 89 | $35.7M | $209K | 27 | $34.7M | 116 | 1,178 |
| FY2018 | 135 | $64.4M | $180K | 21 | $13.1M | 156 | 2,181 |
| FY2017 | 95 | $43.0M | $150K | 22 | $11.7M | 117 | 1,249 |
| FY2016 | 70 | $30.9M | $250K | 16 | $16.3M | 86 | 1,061 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 579 approvals.
Against Illinois and the country
| FY2021–FY2025 | Will County | Illinois | United States |
|---|---|---|---|
| Approvals | 762 | 12,417 | 342,825 |
| Approvals per 1,000 establishments | 44.6 | 38.5 | 41.0 |
| Median 7(a) approval | $150K | $200K | $190K |
| Median 504 approval | $697K | $578K | $657K |
| Average approval | $621K | $581K | $573K |
| 504 share of approvals | 16.5% | 14.2% | 11.0% |
| Jobs supported per approval, as reported | 9.6 | 11.4 | 10.5 |
| Share of state approvals | 6.1% | 100.0% | — |
Approval sizes
- $50,000 or less22.6%172
- $50,001 to $150,00022.7%173
- $150,001 to $350,00018.1%138
- $350,001 to $1 million19.8%151
- $1 million to $2 million7.6%58
- Over $2 million9.2%70
Age of the businesses
- Existing, more than 2 years old65.7%501
- New business, 2 years or less10.8%82
- Startup, loan funds will open the business16.3%124
- Change of ownership7.2%55
Questions and answers
Which lenders make the most SBA loans in Will County?
By approvals in FY2021 to FY2025: The Huntington National Bank (230), Small Business Growth Corporation (80), U.S. Bank, National Association (37), SomerCor 504, Inc. (36), Northeast Bank (36). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Will County?
The median 7(a) approval was $150K and the median 504 approval $697K; the Illinois 7(a) median was $200K.
Which industries get the most SBA loans in Will County?
General Freight Trucking (140); Restaurants and Other Eating Places (76); Services to Buildings and Dwellings (37); Automotive Repair and Maintenance (36); Other Amusement and Recreation Industries (26).
Is SBA lending in Will County rising?
Approvals in the three latest complete fiscal years total 532, against 334 in the three before: rising (+59%).
How does Will County compare with the rest of Illinois?
44.6 approvals per 1,000 establishments against 38.5 statewide, and 762 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