Small Business Owner Resource
The past, present, and future of SBA 7(a) lending for Illinois.
In 2022 there were 168 SBA lenders that approved 1,780 SBA 7(a) loans for projects in Illinois totaling $955,761,300. The average loan amount was $536,945. Borrowers from 364 cities were approved for projects in Illinois for 343 industries. The SBA loan approvals in 2022 represent 20,345 jobs supported or saved in Illinois.
There were 139 franchise branded businesses receiving 243 loan approvals for $254,984,200 with an average loan amount of $1,049,318.
Our forecast model projects $1 billion in total Illinois SBA 7(a) loan approval amounts in 2023 with $305 million to franchise businesses.
Illinois Lending Data For All SBA 7(a) Loans:
Data updated through 12/31/2022. See SBADNA Data Source & Methodology for more details.
Illinois Lending Data For Franchise SBA 7(a) Loans Only:
Data updated through 12/31/2022. See SBADNA Data Source & Methodology for more details.
This intel is provided by SBADNA, an SBAmatch sister company.
Our SBA Lending Experts can leverage this intel with long-standing banking relationships to help you find the right loan for FREE.
