Top SBA Lenders in Illinois for Construction
4 SBA 7(a) lenders active in Illinois's construction sector.
Lenders
20 loans
Total Volume
Median Rate
State avg: Prime + 2.25%
Default Rate
State avg: 1.6%
Top Construction Lenders in Illinois
Rate Distribution (Construction in Illinois)
All Construction Lenders in Illinois
| # | Lender | Loans | Volume | Rate | Default Rate |
|---|---|---|---|---|---|
| 1 | Live Oak Bank | 8 | $9.9M | P+1.50% | 0.8% |
| 2 | The Huntington National Bank | 5 | $6.5M | P+2.25% | 1.5% |
| 3 | First American Bank | 4 | $8.0M | P+0.42% | 0.0% |
| 4 | Crystal Lake Bank & Trust Company, National Association | 3 | $5.8M | P+0.00% | 0.0% |
Need more specific results?
Filter by loan size, compare rates, and narrow the list to your deal.
Customize your search →Construction SBA Lending in Illinois
4 SBA 7(a) lenders are active in Illinois's construction sector, having originated 20 loans totaling $30.2M. The median rate for construction acquisitions in Illinois is Prime + 1.50%, compared to the statewide median of Prime + 2.25%.
The 10-year cumulative default rate for this niche is 1.1%, which is below the state average of 1.6% — indicating relatively lower risk.
Frequently Asked Questions
How many SBA lenders specialize in construction in Illinois?
4 SBA 7(a) lenders have originated construction acquisition loans in Illinois, with a combined 20 loans.
What rate can I expect for a construction acquisition in Illinois?
The median rate is Prime + 1.50% (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 construction SBA loans in Illinois?
The 10-year cumulative default rate is 1.1%, 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.