Lenders › Small Business Growth Corporation
504 CDCSpringfield, Illinoiscertified development company11th of 182 by approvals
Small Business Growth Corporation
SBA 504 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.
Small Business Growth Corporation, based in Springfield, Illinois, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 1,090 of its 504 loans worth $1.06bn in FY2021 to FY2025, which places it 11th of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 178 approvals totalling $165M, up 9% on FY2024 (164). FY2026 to 30 Jun 2026 adds 127 more.
The median approval was $609K, against $657K for the 504 program as a whole; 4.3% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 16 states and territories and 86 counties, led by Illinois (91.2%), Missouri (2.5%) and Indiana (2.1%). The largest industry group was manufacturing at 17.1% of approvals, and 7.1% of approvals were to franchise businesses.
Of 2,025 disbursed loans approved in FY2010 to FY2021, SBA records 28 as charged off (1.4%), 850 as paid in full and 1,147 still outstanding; the 504 program figure for the same approval years is 1.2%, 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* | 127 | $155M | $702K | $1.2M | 806 |
| FY2025 | 178 | $165M | $654K | $925K | 1,125 |
| FY2024 | 164 | $194M | $759K | $1.2M | 1,536 |
| FY2023 | 192 | $197M | $630K | $1.0M | 1,543 |
| FY2022 | 276 | $259M | $672K | $940K | 2,405 |
| FY2021 | 280 | $245M | $520K | $876K | 2,122 |
| FY2020 | 197 | $124M | $375K | $631K | 1,274 |
| FY2019 | 172 | $118M | $436K | $686K | 1,174 |
| FY2018 | 171 | $111M | $461K | $650K | 1,198 |
| FY2017 | 175 | $129M | $472K | $739K | 1,363 |
| FY2016 | 175 | $124M | $496K | $707K | 1,649 |
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 890 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 | 504 program |
|---|---|---|---|
| Approvals in these years | 2,352 | 4,304 | 85,591 |
| Cancelled or never disbursed | 327 | 626 | 12,514 |
| Disbursed loans | 2,025 | 3,678 | 73,077 |
| Paid in full | 850 | 1,684 | 35,491 |
| Charged off | 28 | 61 | 905 |
| Still outstanding (status exempt from disclosure) | 1,147 | 1,933 | 36,681 |
| Charged off, share of disbursed loans | 1.4% | 1.7% | 1.2% |
| Dollars charged off, share of disbursed dollars | 1.3% | 1.4% | 0.9% |
| Dollars charged off | $17.5M | $35.4M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 246 | 23 | 0 | 0.0% | 0.1% |
| FY2020 | 162 | 19 | 0 | 0.0% | 0.1% |
| FY2019 | 147 | 23 | 1 | 0.7% | 0.3% |
| FY2018 | 138 | 40 | 0 | 0.0% | 0.4% |
| FY2017 | 140 | 45 | 2 | 1.4% | 0.8% |
| FY2016 | 144 | 59 | 1 | 0.7% | 1.0% |
| FY2015 | 131 | 71 | 2 | 1.5% | 1.2% |
| FY2014 | 129 | 70 | 2 | 1.6% | 1.3% |
| FY2013 | 166 | 100 | 5 | 3.0% | 1.4% |
| FY2012 | 253 | 151 | 8 | 3.2% | 2.0% |
| FY2011 | 182 | 116 | 3 | 1.6% | 2.1% |
| FY2010 | 187 | 133 | 4 | 2.1% | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $609K | $657K |
| Average approval | $972K | $1.0M |
| Approvals of $150,000 or less | 4.3% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 7.1% | 14.4% |
| Approvals to franchise businesses | 7.1% | 9.0% |
| Jobs supported per approval, as reported | 8.0 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 1.4% | 1.2% |
States served
| # | State of the business (16 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Illinois | 994 | $929M | 91.2% | |
| 2 | Missouri | 27 | $31.8M | 2.5% | |
| 3 | Indiana | 23 | $32.4M | 2.1% | |
| 4 | Iowa | 18 | $17.3M | 1.7% | |
| 5 | Wisconsin | 8 | $12.9M | 0.7% | |
| 6 | California | 5 | $10.6M | 0.5% | |
| 7 | Florida | 3 | $5.6M | 0.3% | |
| 8 | Michigan | 3 | $4.2M | 0.3% | |
| 9 | Arizona | 2 | — | 0.2% | |
| 10 | Nevada | 1 | — | 0.1% | |
| 11 | Minnesota | 1 | — | 0.1% | |
| 12 | Massachusetts | 1 | — | 0.1% |
In Illinois the lender accounts for 56.4% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (86 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Cook County, IL | 360 | $337M | 33.0% | |
| 2 | DuPage County, IL | 149 | $129M | 13.7% | |
| 3 | Kane County, IL | 99 | $96.1M | 9.1% | |
| 4 | Will County, IL | 80 | $86.1M | 7.3% | |
| 5 | Lake County, IL | 70 | $90.0M | 6.4% | |
| 6 | McHenry County, IL | 45 | $28.0M | 4.1% | |
| 7 | Madison County, IL | 22 | $24.8M | 2.0% | |
| 8 | Champaign County, IL | 18 | $15.2M | 1.7% | |
| 9 | St. Clair County, IL | 17 | $13.7M | 1.6% | |
| 10 | Kendall County, IL | 14 | $12.1M | 1.3% | |
| 11 | Sangamon County, IL | 14 | $4.7M | 1.3% | |
| 12 | St. Louis County, MO | 13 | $12.3M | 1.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Manufacturing | 186 | 17.1% | |
| 2 | Retail Trade | 123 | 11.3% | |
| 3 | Accommodation and Food Services | 112 | 10.3% | |
| 4 | Other Services (except Public Administration) | 110 | 10.1% | |
| 5 | Construction | 103 | 9.4% | |
| 6 | Health Care and Social Assistance | 97 | 8.9% | |
| 7 | Wholesale Trade | 78 | 7.2% | |
| 8 | Transportation and Warehousing | 70 | 6.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 81 | 7.4% | |
| 2 | General Freight TruckingNAICS 4841 | 41 | 3.8% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 41 | 3.8% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 40 | 3.7% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 37 | 3.4% | |
| 6 | Child Day Care ServicesNAICS 6244 | 33 | 3.0% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 28 | 2.6% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 26 | 2.4% | |
| 9 | Other Personal ServicesNAICS 8129 | 25 | 2.3% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 24 | 2.2% |
Approval sizes
- $50,001 to $150,0004.3%47
- $150,001 to $350,00022.5%245
- $350,001 to $1 million40.9%446
- $1 million to $2 million21.1%230
- Over $2 million11.2%122
Loan terms
- Over 5 to 10 years5.2%57
- Over 10 to 20 years24.9%271
- Over 20 years69.9%762
Age of the businesses
- Existing, more than 2 years old91.1%993
- New business, 2 years or less1.5%16
- Startup, loan funds will open the business5.6%61
- Change of ownership1.8%20
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 806 | 73.9% | |
| 2 | ALP Express | 158 | 14.5% | |
| 3 | 504 Refinancing Program | 118 | 10.8% | |
| 4 | ALP Express Debt Refi | 7 | 0.6% | |
| 5 | 504 Basic | 1 | 0.1% |
Franchise share
77 of 1,090 approvals in FY2021–FY2025 (7.1%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Culver's ButterBurgers & Frozen Custard | 9 | 0.8% | |
| 2 | Kiddie Academy | 4 | 0.4% | |
| 3 | Ace Hardware | 4 | 0.4% | |
| 4 | General Motors, LLC | 3 | 0.3% | |
| 5 | Scooter's Coffee | 3 | 0.3% | |
| 6 | Toyota Motors Sales, U.S.A., Inc. | 2 | 0.2% | |
| 7 | Volkswagen Dealer Agreement | 2 | 0.2% | |
| 8 | Phillips 66 Branded Reseller Agreement | 2 | 0.2% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | Old Second National Bank | 65 | 6.0% | |
| 2 | JPMorgan Chase Bank, National Association | 62 | 5.7% | |
| 3 | Byline Bank | 59 | 5.4% | |
| 4 | Old National Bank | 48 | 4.4% | |
| 5 | American Commercial Bank and Trust National Association | 47 | 4.3% | |
| 6 | Union National Bank | 42 | 3.9% | |
| 7 | Wintrust Bank National Association | 38 | 3.5% | |
| 8 | American Community Bank & Trust | 32 | 2.9% | |
| 9 | Heartland Bank and Trust Company | 30 | 2.8% | |
| 10 | Busey Bank | 28 | 2.6% |
Questions and answers
How many SBA loans does Small Business Growth Corporation make?
SBA approved 178 504 loans through Small Business Growth Corporation in FY2025, worth $165M, and 1,090 over FY2021 to FY2025. That ranks 11th of 182 active CDCs by number of approvals.
How large are Small Business Growth Corporation's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $609K and the average $972K. The program-wide median was $657K.
What is Small Business Growth Corporation's charge-off rate?
Of 2,025 disbursed loans approved in FY2010 to FY2021, SBA records 28 as charged off (1.4%), 850 as paid in full and 1,147 still outstanding; the 504 program figure for the same approval years is 1.2%, 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 Small Business Growth Corporation lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (81); general freight trucking (41); automotive repair and maintenance (41); other specialty trade contractors (40).
Where does Small Business Growth Corporation make SBA loans?
In 16 states and territories. Illinois 994, Missouri 27, Indiana 23, Iowa 18, Wisconsin 8. In Illinois it accounts for 56.4% of all 504 approvals.
Is Small Business Growth Corporation's SBA lending rising?
Approvals in the three latest complete fiscal years total 534, against 753 in the three before: falling (-29%).
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