Lenders › First American Bank
7(a) lenderElk Grove Village, IllinoisFDIC-insured bank229th of 2,184 by approvals
First American Bank
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.
In FY2021 to FY2025 SBA approved 161 7(a) loans, worth $135M, through First American Bank of Elk Grove Village, Illinois, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 229th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 31 approvals totalling $29.7M, up 19% on FY2024 (26). FY2026 to 30 Jun 2026 adds 19 more.
The median approval was $500K, against $190K for the 7(a) program as a whole; 16.1% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 10 states and territories and 26 counties, led by Illinois (62.1%), Florida (18.6%) and Wisconsin (11.8%). The largest industry group was construction at 24.8% of approvals, and 4.3% of approvals were to franchise businesses.
Of 511 disbursed loans approved in FY2010 to FY2021, SBA records 14 as charged off (2.7%), 460 as paid in full and 37 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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* | 19 | $16.0M | $600K | $843K | 415 |
| FY2025 | 31 | $29.7M | $500K | $958K | 755 |
| FY2024 | 26 | $17.7M | $500K | $681K | 550 |
| FY2023 | 26 | $27.8M | $520K | $1.1M | 777 |
| FY2022 | 27 | $19.3M | $350K | $713K | 415 |
| FY2021 | 51 | $40.3M | $400K | $791K | 527 |
| FY2020 | 31 | $26.5M | $400K | $856K | 456 |
| FY2019 | 30 | $16.2M | $250K | $542K | 708 |
| FY2018 | 45 | $27.3M | $250K | $607K | 462 |
| FY2017 | 56 | $28.5M | $150K | $509K | 472 |
| FY2016 | 74 | $30.7M | $150K | $415K | 686 |
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 236 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 | 579 | 21,190 | 639,905 |
| Cancelled or never disbursed | 68 | 2,878 | 79,313 |
| Disbursed loans | 511 | 18,312 | 560,592 |
| Paid in full | 460 | 13,909 | 435,813 |
| Charged off | 14 | 1,459 | 36,891 |
| Still outstanding (status exempt from disclosure) | 37 | 2,944 | 87,888 |
| Charged off, share of disbursed loans | 2.7% | 8.0% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.6% | 4.1% | 2.5% |
| Dollars charged off | $4.2M | $327M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 49 | 31 | 0 | 0.0% | 2.8% |
| FY2020 | 31 | 26 | 0 | 0.0% | 4.0% |
| FY2019 | 28 | 28 | 0 | — | 6.7% |
| FY2018 | 45 | 39 | 1 | 2.2% | 7.9% |
| FY2017 | 54 | 52 | 0 | 0.0% | 7.7% |
| FY2016 | 71 | 64 | 3 | 4.2% | 7.2% |
| FY2015 | 46 | 43 | 0 | 0.0% | 6.9% |
| FY2014 | 41 | 40 | 1 | 2.4% | 6.4% |
| FY2013 | 31 | 30 | 1 | 3.2% | 6.0% |
| FY2012 | 38 | 37 | 1 | 2.6% | 6.3% |
| FY2011 | 39 | 36 | 3 | 7.7% | 6.9% |
| FY2010 | 38 | 34 | 4 | 10.5% | 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 | $500K | $190K |
| Average approval | $837K | $518K |
| Approvals of $150,000 or less | 16.1% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 19.9% | 34.3% |
| Approvals to franchise businesses | 4.3% | 11.5% |
| Jobs supported per approval, as reported | 18.8 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 2.7% | 6.6% |
States served
| # | State of the business (10 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Illinois | 100 | $81.0M | 62.1% | |
| 2 | Florida | 30 | $18.1M | 18.6% | |
| 3 | Wisconsin | 19 | $16.5M | 11.8% | |
| 4 | New York | 3 | $6.4M | 1.9% | |
| 5 | Missouri | 3 | $2.9M | 1.9% | |
| 6 | Indiana | 2 | — | 1.2% | |
| 7 | Michigan | 1 | — | 0.6% | |
| 8 | Ohio | 1 | — | 0.6% | |
| 9 | Texas | 1 | — | 0.6% | |
| 10 | Arizona | 1 | — | 0.6% |
In Illinois the lender accounts for 0.9% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (26 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Cook County, IL | 53 | $42.6M | 32.9% | |
| 2 | DuPage County, IL | 29 | $26.7M | 18.0% | |
| 3 | Miami-Dade County, FL | 27 | $17.3M | 16.8% | |
| 4 | Kenosha County, WI | 8 | $3.6M | 5.0% | |
| 5 | Racine County, WI | 4 | $6.2M | 2.5% | |
| 6 | Will County, IL | 4 | $3.4M | 2.5% | |
| 7 | Cass County, MO | 3 | $2.9M | 1.9% | |
| 8 | Washington County, WI | 3 | $1.4M | 1.9% | |
| 9 | Lake County, IL | 3 | $855K | 1.9% | |
| 10 | Kane County, IL | 3 | $615K | 1.9% | |
| 11 | McHenry County, IL | 3 | $588K | 1.9% | |
| 12 | Queens County, NY | 2 | — | 1.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 40 | 24.8% | |
| 2 | Manufacturing | 35 | 21.7% | |
| 3 | Wholesale Trade | 23 | 14.3% | |
| 4 | Professional, Scientific, and Technical Services | 17 | 10.6% | |
| 5 | Retail Trade | 10 | 6.2% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 7 | 4.3% | |
| 7 | Accommodation and Food Services | 7 | 4.3% | |
| 8 | Health Care and Social Assistance | 7 | 4.3% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 11 | 6.8% | |
| 2 | Grocery and Related Product Merchant WholesalersNAICS 4244 | 9 | 5.6% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 7 | 4.3% | |
| 4 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 6 | 3.7% | |
| 5 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 6 | 3.7% | |
| 6 | Other Miscellaneous ManufacturingNAICS 3399 | 6 | 3.7% | |
| 7 | Building Finishing ContractorsNAICS 2383 | 6 | 3.7% | |
| 8 | Architectural, Engineering, and Related ServicesNAICS 5413 | 6 | 3.7% | |
| 9 | Residential Building ConstructionNAICS 2361 | 5 | 3.1% | |
| 10 | Other Specialty Trade ContractorsNAICS 2389 | 5 | 3.1% |
Approval sizes
- $50,000 or less3.7%6
- $50,001 to $150,00012.4%20
- $150,001 to $350,00024.8%40
- $350,001 to $1 million36.0%58
- $1 million to $2 million13.7%22
- Over $2 million9.3%15
Loan terms
- 5 years or less23.0%37
- Over 5 to 10 years63.4%102
- Over 10 to 20 years11.2%18
- Over 20 years2.5%4
Age of the businesses
- Existing, more than 2 years old72.7%117
- New business, 2 years or less14.9%24
- Startup, loan funds will open the business5.0%8
- Change of ownership7.5%12
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 61 | 37.9% | |
| 2 | SBA Express Program | 52 | 32.3% | |
| 3 | Preferred Lenders with EWCP | 16 | 9.9% | |
| 4 | Contract CAPLine | 12 | 7.5% | |
| 5 | Working Capital CAPLine | 5 | 3.1% | |
| 6 | Preferred Lenders with WCP | 5 | 3.1% |
Franchise share
7 of 161 approvals in FY2021–FY2025 (4.3%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Servpro | 3 | 1.9% | |
| 2 | Budget Blinds | 2 | 1.2% | |
| 3 | Hounds Town USA | 1 | 0.6% | |
| 4 | Woof Gang Bakery and Grooming | 1 | 0.6% |
Questions and answers
How many SBA loans does First American Bank make?
SBA approved 31 7(a) loans through First American Bank in FY2025, worth $29.7M, and 161 over FY2021 to FY2025. That ranks 229th of 2,184 active 7(a) lenders by number of approvals.
How large are First American Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $500K and the average $837K. The program-wide median was $190K.
What is First American Bank's charge-off rate?
Of 511 disbursed loans approved in FY2010 to FY2021, SBA records 14 as charged off (2.7%), 460 as paid in full and 37 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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 First American Bank lend to most?
By number of approvals in FY2021 to FY2025: building equipment contractors (11); grocery and related product merchant wholesalers (9); services to buildings and dwellings (7); foundation, structure, and building exterior contractors (6).
Where does First American Bank make SBA loans?
In 10 states and territories. Illinois 100, Florida 30, Wisconsin 19, New York 3, Missouri 3. In Illinois it accounts for 0.9% of all 7(a) approvals.
Is First American Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 83, against 109 in the three before: falling (-24%).
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