FY20241 Oct 2023 – 30 Sep 2024
SBA loans in Illinois, FY2024
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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 2,737 loans in Illinois: 2,469 under 7(a) and 268 under 504, worth $1.46bn.
That is up 21% on FY2023, when there were 2,254 approvals worth $1.28bn.
Illinois accounted for 3.6% of the 76,235 approvals nationwide that year. 173 lenders had at least one approval in the state; The Huntington National Bank had the most, 696.
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 FY2024, of 173 active.
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Cook County | 1,320 | $627M | 48.2% | 1,062 | +258 |
| 2 | DuPage County | 336 | $175M | 12.3% | 261 | +75 |
| 3 | Lake County | 193 | $123M | 7.1% | 162 | +31 |
| 4 | Will County | 178 | $83.3M | 6.5% | 158 | +20 |
| 5 | Kane County | 134 | $88.0M | 4.9% | 119 | +15 |
| 6 | McHenry County | 96 | $54.5M | 3.5% | 76 | +20 |
| 7 | Winnebago County | 49 | $37.2M | 1.8% | 35 | +14 |
| 8 | Madison County | 39 | $31.2M | 1.4% | 46 | -7 |
| 9 | Kendall County | 37 | $19.0M | 1.4% | 15 | +22 |
| 10 | Sangamon County | 36 | $16.7M | 1.3% | 29 | +7 |
| 11 | Champaign County | 26 | $20.6M | 0.9% | 27 | -1 |
| 12 | St. Clair County | 22 | $8.7M | 0.8% | 27 | -5 |
| 13 | DeKalb County | 18 | $18.8M | 0.7% | 15 | +3 |
| 14 | Macon County | 18 | $11.7M | 0.7% | 15 | +3 |
| 15 | McLean County | 16 | $18.4M | 0.6% | 18 | -2 |
| 16 | Tazewell County | 13 | $9.8M | 0.5% | 9 | +4 |
| 17 | Vermilion County | 13 | $4.8M | 0.5% | 7 | +6 |
| 18 | Williamson County | 12 | $7.9M | 0.4% | 11 | +1 |
| 19 | LaSalle County | 12 | $7.4M | 0.4% | 9 | +3 |
| 20 | Kankakee County | 11 | $8.2M | 0.4% | 8 | +3 |
| 21 | Morgan County | 10 | $3.2M | 0.4% | 4 | +6 |
| 22 | Peoria County | 9 | $4.9M | 0.3% | 9 | 0 |
| 23 | Grundy County | 8 | $5.4M | 0.3% | 9 | -1 |
| 24 | Monroe County | 8 | $6.7M | 0.3% | 5 | +3 |
| 25 | Effingham County | 7 | $1.7M | 0.3% | 0 | new |
| 26 | Rock Island County | 7 | $4.4M | 0.3% | 11 | -4 |
| 27 | Jefferson County | 7 | $4.8M | 0.3% | 7 | 0 |
| 28 | Lee County | 7 | $5.8M | 0.3% | 1 | +6 |
| 29 | Christian County | 6 | $2.5M | 0.2% | 1 | +5 |
| 30 | Henry County | 5 | $482K | 0.2% | 3 | +2 |
| 31 | Jackson County | 5 | $3.6M | 0.2% | 4 | +1 |
| 32 | Franklin County | 5 | $7.1M | 0.2% | 2 | +3 |
| 33 | Bureau County | 5 | $6.4M | 0.2% | 1 | +4 |
| 34 | Coles County | 4 | $2.8M | 0.1% | 3 | +1 |
| 35 | Ogle County | 4 | $1.2M | 0.1% | 5 | -1 |
| 36 | Adams County | 4 | $1.0M | 0.1% | 4 | 0 |
| 37 | De Witt County | 4 | $1.2M | 0.1% | 1 | +3 |
| 38 | Boone County | 3 | $634K | 0.1% | 8 | -5 |
| 39 | Edgar County | 3 | $1.1M | 0.1% | 2 | +1 |
| 40 | Clinton County | 3 | $3.5M | 0.1% | 3 | 0 |
The 40 counties with the most approvals; every county is on the Illinois page.
FY2024 against FY2023
| Illinois | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 2,469 | 1,957 |
| 7(a) dollars | $1.17bn | $978M |
| Median 7(a) approval | $150K | $180K |
| 504 approvals | 268 | 297 |
| 504 dollars | $290M | $301M |
| Jobs supported, as reported | 30,343 | 26,929 |
Questions and answers
Which lenders made the most SBA loans in Illinois in FY2024?
The Huntington National Bank (696), U.S. Bank, National Association (166), Small Business Growth Corporation (148), JPMorgan Chase Bank, National Association (132), BayFirst National Bank (115). 173 lenders had at least one approval.
How many SBA loans were approved in Illinois in FY2024?
2,737: 2,469 under 7(a) worth $1.17bn and 268 under 504 worth $290M.
Which Illinois counties had the most SBA approvals in FY2024?
Cook County (1,320), DuPage County (336), Lake County (193), Will County (178), Kane County (134).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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