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67 active SBA 7(a) lenders in Illinois, ranked by loan volume.
Lenders
in Illinois
Total Volume
Median Rate
Median Loan Size
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Customize your search →Illinois has 67 active SBA 7(a) acquisition lenders that have originated a combined 267 loans totaling $385.7M in volume. The median acquisition loan size in Illinois is $1039K, with a median interest rate of Prime + 2.25% (Prime + spread).
When evaluating SBA lenders in Illinois, consider loan volume (a proxy for experience), interest rates, and historical default rates. Lenders designated as PLP (Preferred Lender Program) have delegated authority from the SBA to approve loans, which typically results in faster processing times.
There are currently 67 active SBA 7(a) lenders in Illinois based on FOIA lending data. These lenders have originated 267 acquisition loans.
The median SBA 7(a) acquisition loan rate in Illinois is Prime + 2.25% (current Prime rate: 6.75%). Rates are typically expressed as Prime plus a spread, with the SBA capping the spread at 3.0% for loans over $250,000.
A PLP (Preferred Lender Program) lender has been granted delegated authority by the SBA to make credit decisions without prior SBA review. This typically means faster loan processing and approval timelines.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected dimension. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates. Data is refreshed periodically and may not reflect the most recent lending activity.