Top SBA Lenders in Illinois for Accommodation & Food Services
7 SBA 7(a) lenders active in Illinois's accommodation & food services sector.
Lenders
34 loans
Total Volume
Median Rate
State avg: Prime + 2.25%
Default Rate
State avg: 1.6%
Top Accommodation & Food Services Lenders in Illinois
Rate Distribution (Accommodation & Food Services in Illinois)
All Accommodation & Food Services Lenders in Illinois
| # | Lender | Loans | Volume | Rate | Default Rate |
|---|---|---|---|---|---|
| 1 | Merchants Bank of Indiana | 10 | $33.0M | P+1.75% | 1.1% |
| 2 | GBank | 6 | $19.4M | P+1.00% | 0.5% |
| 3 | Peru Federal Savings Bank | 4 | $1.8M | P+1.75% | 0.0% |
| 4 | The Huntington National Bank | 4 | $3.7M | P+2.25% | 1.8% |
| 5 | Farmers State Bank of Western Illinois | 4 | $820K | P+0.00% | 0.0% |
| 6 | Byline Bank | 3 | $1.8M | P+2.75% | 1.5% |
| 7 | FWBank | 3 | $3.0M | P+1.75% | 0.0% |
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7 SBA 7(a) lenders are active in Illinois's accommodation & food services sector, having originated 34 loans totaling $63.6M. The median rate for accommodation & food services acquisitions in Illinois is Prime + 1.75%, compared to the statewide median of Prime + 2.25%.
The 10-year cumulative default rate for this niche is 1.3%, which is below the state average of 1.6% — indicating relatively lower risk.
Frequently Asked Questions
How many SBA lenders specialize in accommodation & food services in Illinois?
7 SBA 7(a) lenders have originated accommodation & food services acquisition loans in Illinois, with a combined 34 loans.
What rate can I expect for a accommodation & food services acquisition in Illinois?
The median rate is Prime + 1.75% (Prime + spread). This compares to a statewide median of Prime + 2.25%. Actual rates depend on loan size, borrower qualifications, and collateral.
What is the default rate for accommodation & food services SBA loans in Illinois?
The 10-year cumulative default rate is 1.3%, compared to a statewide average of 1.6%.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected state and industry. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates.
Figures shown here are historical SBA 7(a) lending data presented for general information only. They are not an offer of credit, a prediction of the terms you will receive, or financial advice. VerSquare is not a licensed broker, lender, or financial advisor. Consult a licensed professional before making a financing decision.