FY20231 Oct 2022 – 30 Sep 2023
SBA loans in Illinois, FY2023
That fiscal year's approvals by lender and by county.
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 2,254 loans in Illinois: 1,957 under 7(a) and 297 under 504, worth $1.28bn.
That is about level with FY2022, when there were 2,129 approvals worth $1.36bn.
Illinois accounted for 3.6% of the 63,286 approvals nationwide that year. 169 lenders had at least one approval in the state; The Huntington National Bank had the most, 578.
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.
Approvals by lender
The 40 lenders with the most approvals to Illinois businesses in FY2023, of 169 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 578 | $115M | 25.6% | 439 | +139 |
| 2 | Small Business Growth Corporation | 504 | 178 | $177M | 7.9% | 245 | -67 |
| 3 | U.S. Bank, National Association | 7(a) | 131 | $22.3M | 5.8% | 118 | +13 |
| 4 | JPMorgan Chase Bank, National Association | 7(a) | 104 | $19.9M | 4.6% | 51 | +53 |
| 5 | Byline Bank | 7(a) | 99 | $139M | 4.4% | 93 | +6 |
| 6 | SomerCor 504, Inc. | 504 | 97 | $101M | 4.3% | 181 | -84 |
| 7 | BayFirst National Bank | 7(a) | 91 | $12.9M | 4.0% | 29 | +62 |
| 8 | Village Bank and Trust, National Association | 7(a) | 43 | $29.2M | 1.9% | 21 | +22 |
| 9 | PNC Bank, National Association | 7(a) | 42 | $6.9M | 1.9% | 27 | +15 |
| 10 | Newtek Bank, National Association | 7(a) | 39 | $15.6M | 1.7% | 0 | new |
| 11 | Newtek Small Business Finance, Inc. | 7(a) | 35 | $23.7M | 1.6% | 40 | -5 |
| 12 | Bank of America, National Association | 7(a) | 30 | $7.7M | 1.3% | 25 | +5 |
| 13 | Live Oak Banking Company | 7(a) | 29 | $35.5M | 1.3% | 36 | -7 |
| 14 | Bank of Springfield | 7(a) | 27 | $4.7M | 1.2% | 31 | -4 |
| 15 | Old National Bank | 7(a) | 24 | $21.0M | 1.1% | 17 | +7 |
| 16 | United Midwest Savings Bank National Association | 7(a) | 24 | $4.0M | 1.1% | 11 | +13 |
| 17 | Midland States Bank | 7(a) | 23 | $9.3M | 1.0% | 16 | +7 |
| 18 | Readycap Lending, LLC | 7(a) | 22 | $6.0M | 1.0% | 27 | -5 |
| 19 | Busey Bank | 7(a) | 19 | $20.6M | 0.8% | 17 | +2 |
| 20 | Fifth Third Bank | 7(a) | 18 | $14.1M | 0.8% | 41 | -23 |
| 21 | Union National Bank | 7(a) | 17 | $5.5M | 0.8% | 11 | +6 |
| 22 | First Mid Bank & Trust, National Association | 7(a) | 16 | $3.9M | 0.7% | 27 | -11 |
| 23 | Northeast Bank | 7(a) | 16 | $913K | 0.7% | 3 | +13 |
| 24 | Merchants Bank of Indiana | 7(a) | 15 | $28.4M | 0.7% | 8 | +7 |
| 25 | Wheaton Bank & Trust Company, National Association | 7(a) | 15 | $7.1M | 0.7% | 6 | +9 |
| 26 | First American Bank | 7(a) | 14 | $10.7M | 0.6% | 21 | -7 |
| 27 | Millennium Bank | 7(a) | 13 | $38.0M | 0.6% | 34 | -21 |
| 28 | Morton Community Bank | 7(a) | 13 | $3.5M | 0.6% | 8 | +5 |
| 29 | First Internet Bank of Indiana | 7(a) | 12 | $14.4M | 0.5% | 9 | +3 |
| 30 | CenTrust Bank, A Division of SmartBiz Bank National Association | 7(a) | 12 | $11.7M | 0.5% | 18 | -6 |
| 31 | St. Charles Bank & Trust Company, National Association | 7(a) | 12 | $10.8M | 0.5% | 6 | +6 |
| 32 | Celtic Bank Corporation | 7(a) | 11 | $11.5M | 0.5% | 19 | -8 |
| 33 | GBank | 7(a) | 10 | $24.1M | 0.4% | 10 | 0 |
| 34 | VelocitySBA, LLC | 7(a) | 9 | $14.1M | 0.4% | 1 | +8 |
| 35 | First Bank of the Lake | 7(a) | 9 | $13.3M | 0.4% | 3 | +6 |
| 36 | Rockford Local Development Corporation | 504 | 9 | $11.4M | 0.4% | 14 | -5 |
| 37 | Barrington Bank & Trust Company, National Association | 7(a) | 9 | $9.1M | 0.4% | 1 | +8 |
| 38 | Beverly Bank & Trust Company, National Association | 7(a) | 9 | $2.7M | 0.4% | 2 | +7 |
| 39 | Colony Bank | 7(a) | 9 | $1.7M | 0.4% | 0 | new |
| 40 | Schaumburg Bank & Trust Company, National Association | 7(a) | 8 | $6.9M | 0.4% | 1 | +7 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Cook County | 1,062 | $536M | 47.1% | 986 | +76 |
| 2 | DuPage County | 261 | $172M | 11.6% | 227 | +34 |
| 3 | Lake County | 162 | $103M | 7.2% | 124 | +38 |
| 4 | Will County | 158 | $120M | 7.0% | 126 | +32 |
| 5 | Kane County | 119 | $76.6M | 5.3% | 135 | -16 |
| 6 | McHenry County | 76 | $45.1M | 3.4% | 84 | -8 |
| 7 | Madison County | 46 | $23.2M | 2.0% | 38 | +8 |
| 8 | Winnebago County | 35 | $23.2M | 1.6% | 43 | -8 |
| 9 | Sangamon County | 29 | $9.4M | 1.3% | 34 | -5 |
| 10 | St. Clair County | 27 | $11.3M | 1.2% | 39 | -12 |
| 11 | Champaign County | 27 | $13.3M | 1.2% | 20 | +7 |
| 12 | McLean County | 18 | $6.5M | 0.8% | 16 | +2 |
| 13 | DeKalb County | 15 | $7.5M | 0.7% | 10 | +5 |
| 14 | Macon County | 15 | $8.7M | 0.7% | 17 | -2 |
| 15 | Kendall County | 15 | $6.9M | 0.7% | 26 | -11 |
| 16 | Rock Island County | 11 | $7.0M | 0.5% | 11 | 0 |
| 17 | Williamson County | 11 | $2.2M | 0.5% | 6 | +5 |
| 18 | Tazewell County | 9 | $7.1M | 0.4% | 12 | -3 |
| 19 | Grundy County | 9 | $10.8M | 0.4% | 10 | -1 |
| 20 | Peoria County | 9 | $6.2M | 0.4% | 16 | -7 |
| 21 | LaSalle County | 9 | $5.5M | 0.4% | 4 | +5 |
| 22 | Boone County | 8 | $5.1M | 0.4% | 3 | +5 |
| 23 | Kankakee County | 8 | $4.9M | 0.4% | 6 | +2 |
| 24 | Vermilion County | 7 | $2.6M | 0.3% | 4 | +3 |
| 25 | Jefferson County | 7 | $4.3M | 0.3% | 13 | -6 |
| 26 | Macoupin County | 5 | $321K | 0.2% | 5 | 0 |
| 27 | Monroe County | 5 | $1.4M | 0.2% | 12 | -7 |
| 28 | Knox County | 5 | $11.5M | 0.2% | 5 | 0 |
| 29 | Whiteside County | 5 | $1.3M | 0.2% | 4 | +1 |
| 30 | Ogle County | 5 | $7.8M | 0.2% | 3 | +2 |
| 31 | Morgan County | 4 | $1.8M | 0.2% | 6 | -2 |
| 32 | Jackson County | 4 | $1.9M | 0.2% | 4 | 0 |
| 33 | Adams County | 4 | $1.3M | 0.2% | 5 | -1 |
| 34 | McDonough County | 4 | $772K | 0.2% | 0 | new |
| 35 | Stephenson County | 4 | $498K | 0.2% | 1 | +3 |
| 36 | Henry County | 3 | $676K | 0.1% | 5 | -2 |
| 37 | Coles County | 3 | $922K | 0.1% | 2 | +1 |
| 38 | Clinton County | 3 | $204K | 0.1% | 1 | +2 |
| 39 | Bond County | 3 | $2.9M | 0.1% | 0 | new |
| 40 | Crawford County | 3 | $575K | 0.1% | 1 | +2 |
The 40 counties with the most approvals; every county is on the Illinois page.
FY2023 against FY2022
| Illinois | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 1,957 | 1,661 |
| 7(a) dollars | $978M | $934M |
| Median 7(a) approval | $180K | $210K |
| 504 approvals | 297 | 468 |
| 504 dollars | $301M | $430M |
| Jobs supported, as reported | 26,929 | 24,538 |
Questions and answers
Which lenders made the most SBA loans in Illinois in FY2023?
The Huntington National Bank (578), Small Business Growth Corporation (178), U.S. Bank, National Association (131), JPMorgan Chase Bank, National Association (104), Byline Bank (99). 169 lenders had at least one approval.
How many SBA loans were approved in Illinois in FY2023?
2,254: 1,957 under 7(a) worth $978M and 297 under 504 worth $301M.
Which Illinois counties had the most SBA approvals in FY2023?
Cook County (1,062), DuPage County (261), Lake County (162), Will County (158), Kane County (119).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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