Access the Top SBA Lending for Illinois Small Business
Illinois State is recognized for its economy and rich cultural history offering an environment, for small business development. Entrepreneurs, in Illinois have a variety of opportunities to succeed from the streets of Chicago to the towns of Springfield. They can benefit from premier SBA lending programs that provide support for their businesses to thrive.
Illinois
The Prairie State
1,300,000 small businesses
2,400,000 small business employees
Source: US SBA Office of Advocacy - 2023 Report
Up to $500K Available
8.5% as of 2/2024 | 2 weeks to fund
If you are a small business owner considering an SBA loan, we suggest doing one of two things:

See if you qualify by taking 3 minutes to fill out the Application here.

This is the fastest way to get answers about an SBA loan. It will provide us with everything needed to get an approval.
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Business Dynamic of Illinois
Between March 2021 and March 2022, 40,933 Illinois establishments opened and 31,592 closed, for a net increase of 9,341. Employment expanded at 78,793 establishments and contracted at 60,776. Small businesses accounted for 39,600 openings and 30,407 closings.
Establishments in Illinois
Employment in Illinois
Between March 2021 and March 2022, 40,933 Illinois establishments opened and 31,592 closed, for a net increase of 9,341. Employment expanded at 78,793 establishments and contracted at 60,776. Small businesses accounted for 39,600 openings and 30,407 closings.
Source: Business Employment Dynamics (BLS)
Small Business Loans in Illinois
The Community Reinvestment Act requires large banks to report new small business loans. In 2021, reporting banks issued $4.3 billion in loans to Illinois businesses with revenues of $1 million or less. Total reported new lending to businesses through loans of $100,000 or less was $5.0 billion. Total reported new lending to businesses through loans of $1 million or less was $15.6 billion.
New lending to businesses with revenues under $1 million
Source: CRA Aggregate Data (FFIEC)
Industries and Employment of Illinois's Small Businesses
Source: Business Employment Dynamics (BLS)
Business Ownership Share by Demographic in Illinois
Business Count by Demographic in Illinois
Total Illinois Employement by Business Size
Small Business Employment and Payroll by Industry in Illinois
Source: Business Employment Dynamics (BLS)