Lenders › Bank of Springfield
7(a) lenderSpringfield, IllinoisFDIC-insured bank203rd of 2,184 by approvals
Bank of Springfield
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Bank of Springfield, based in Springfield, Illinois, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 189 of its 7(a) loans worth $63.3M in FY2021 to FY2025, which places it 203rd of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 37 approvals totalling $17.2M, down 14% on FY2024 (43). FY2026 to 30 Jun 2026 adds 21 more.
The median approval was $167K, against $190K for the 7(a) program as a whole; 48.7% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 16 states and territories and 46 counties, led by Illinois (69.3%), Missouri (19.0%) and Arizona (1.6%). The largest industry group was construction at 12.7% of approvals, and 5.3% of approvals were to franchise businesses.
Of 105 disbursed loans approved in FY2010 to FY2021, SBA records 6 as charged off (5.7%), 64 as paid in full and 35 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 21 | $3.2M | $73K | $153K | 140 |
| FY2025 | 37 | $17.2M | $149K | $465K | 252 |
| FY2024 | 43 | $13.9M | $147K | $323K | 335 |
| FY2023 | 39 | $11.6M | $238K | $298K | 238 |
| FY2022 | 38 | $6.2M | $113K | $162K | 241 |
| FY2021 | 32 | $14.4M | $200K | $451K | 203 |
| FY2020 | 23 | $7.8M | $150K | $341K | 202 |
| FY2019 | 11 | $1.8M | $70K | $164K | 75 |
| FY2018 | 5 | $603K | $100K | $121K | 59 |
| FY2017 | 3 | $300K | $100K | $100K | 20 |
| FY2016 | 4 | $947K | $203K | $237K | 52 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 46 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Illinois | 7(a) program |
|---|---|---|---|
| Approvals in these years | 114 | 21,190 | 639,905 |
| Cancelled or never disbursed | 9 | 2,878 | 79,313 |
| Disbursed loans | 105 | 18,312 | 560,592 |
| Paid in full | 64 | 13,909 | 435,813 |
| Charged off | 6 | 1,459 | 36,891 |
| Still outstanding (status exempt from disclosure) | 35 | 2,944 | 87,888 |
| Charged off, share of disbursed loans | 5.7% | 8.0% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.3% | 4.1% | 2.5% |
| Dollars charged off | $790K | $327M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 31 | 10 | 0 | 0.0% | 2.8% |
| FY2020 | 23 | 11 | 2 | — | 4.0% |
| FY2019 | 11 | 7 | 1 | — | 6.7% |
| FY2018 | 3 | 2 | 0 | — | 7.9% |
| FY2017 | 3 | 3 | 0 | — | 7.7% |
| FY2016 | 4 | 3 | 1 | — | 7.2% |
| FY2015 | 2 | 2 | 0 | — | 6.9% |
| FY2014 | 3 | 3 | 0 | — | 6.4% |
| FY2013 | 2 | 2 | 0 | — | 6.0% |
| FY2012 | 8 | 7 | 1 | — | 6.3% |
| FY2011 | 5 | 4 | 1 | — | 6.9% |
| FY2010 | 10 | 10 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $167K | $190K |
| Average approval | $335K | $518K |
| Approvals of $150,000 or less | 48.7% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 47.1% | 34.3% |
| Approvals to franchise businesses | 5.3% | 11.5% |
| Jobs supported per approval, as reported | 6.7 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.7% | 6.6% |
States served
| # | State of the business (16 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Illinois | 131 | $27.9M | 69.3% | |
| 2 | Missouri | 36 | $22.1M | 19.0% | |
| 3 | Arizona | 3 | $1.8M | 1.6% | |
| 4 | Colorado | 3 | $615K | 1.6% | |
| 5 | South Carolina | 2 | — | 1.1% | |
| 6 | New York | 2 | — | 1.1% | |
| 7 | Kansas | 2 | — | 1.1% | |
| 8 | Texas | 2 | — | 1.1% | |
| 9 | Ohio | 1 | — | 0.5% | |
| 10 | Alaska | 1 | — | 0.5% | |
| 11 | Mississippi | 1 | — | 0.5% | |
| 12 | Florida | 1 | — | 0.5% |
In Illinois the lender accounts for 1.2% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (46 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Sangamon County, IL | 64 | $13.1M | 33.9% | |
| 2 | St. Louis County, MO | 18 | $14.5M | 9.5% | |
| 3 | Madison County, IL | 13 | $2.3M | 6.9% | |
| 4 | St. Louis city, MO | 9 | $4.1M | 4.8% | |
| 5 | Morgan County, IL | 7 | $1.8M | 3.7% | |
| 6 | Champaign County, IL | 7 | $1.3M | 3.7% | |
| 7 | Macoupin County, IL | 6 | $807K | 3.2% | |
| 8 | Macon County, IL | 5 | $1.6M | 2.6% | |
| 9 | Adams County, IL | 5 | $470K | 2.6% | |
| 10 | St. Clair County, IL | 4 | $1.4M | 2.1% | |
| 11 | Cook County, IL | 3 | $1.3M | 1.6% | |
| 12 | Christian County, IL | 3 | $595K | 1.6% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 24 | 12.7% | |
| 2 | Other Services (except Public Administration) | 24 | 12.7% | |
| 3 | Accommodation and Food Services | 22 | 11.6% | |
| 4 | Retail Trade | 21 | 11.1% | |
| 5 | Manufacturing | 18 | 9.5% | |
| 6 | Professional, Scientific, and Technical Services | 17 | 9.0% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 15 | 7.9% | |
| 8 | Transportation and Warehousing | 13 | 6.9% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 16 | 8.5% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 14 | 7.4% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 12 | 6.3% | |
| 4 | General Freight TruckingNAICS 4841 | 11 | 5.8% | |
| 5 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 10 | 5.3% | |
| 6 | Personal Care ServicesNAICS 8121 | 9 | 4.8% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 4.2% | |
| 8 | Offices of Other Health PractitionersNAICS 6213 | 8 | 4.2% | |
| 9 | Other Personal ServicesNAICS 8129 | 6 | 3.2% | |
| 10 | Automotive Repair and MaintenanceNAICS 8111 | 6 | 3.2% |
Approval sizes
- $50,000 or less25.9%49
- $50,001 to $150,00022.8%43
- $150,001 to $350,00025.4%48
- $350,001 to $1 million20.6%39
- $1 million to $2 million2.1%4
- Over $2 million3.2%6
Loan terms
- 5 years or less28.0%53
- Over 5 to 10 years46.6%88
- Over 10 to 20 years18.0%34
- Over 20 years7.4%14
Age of the businesses
- Existing, more than 2 years old38.6%73
- New business, 2 years or less24.3%46
- Startup, loan funds will open the business22.8%43
- Change of ownership14.3%27
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 131 | 69.3% | |
| 2 | SBA Express Program | 50 | 26.5% | |
| 3 | 7a General | 4 | 2.1% | |
| 4 | Working Capital CAPLine | 2 | 1.1% | |
| 5 | International Trade Loans | 1 | 0.5% | |
| 6 | Export Express | 1 | 0.5% |
Franchise share
10 of 189 approvals in FY2021–FY2025 (5.3%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | X-Golf | 3 | 1.6% | |
| 2 | Apricot Lane | 3 | 1.6% | |
| 3 | FRSTeam | 1 | 0.5% | |
| 4 | Medi-Weightloss | 1 | 0.5% | |
| 5 | Real Property Management | 1 | 0.5% | |
| 6 | Oxi Fresh Carpet Cleaning | 1 | 0.5% |
Questions and answers
How many SBA loans does Bank of Springfield make?
SBA approved 37 7(a) loans through Bank of Springfield in FY2025, worth $17.2M, and 189 over FY2021 to FY2025. That ranks 203rd of 2,184 active 7(a) lenders by number of approvals.
How large are Bank of Springfield's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $167K and the average $335K. The program-wide median was $190K.
What is Bank of Springfield's charge-off rate?
Of 105 disbursed loans approved in FY2010 to FY2021, SBA records 6 as charged off (5.7%), 64 as paid in full and 35 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Bank of Springfield lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (16); other specialty trade contractors (14); services to buildings and dwellings (12); general freight trucking (11).
Where does Bank of Springfield make SBA loans?
In 16 states and territories. Illinois 131, Missouri 36, Arizona 3, Colorado 3, South Carolina 2. In Illinois it accounts for 1.2% of all 7(a) approvals.
Is Bank of Springfield's SBA lending rising?
Approvals in the three latest complete fiscal years total 119, against 93 in the three before: rising (+28%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error