Lending data
Who actually lends to farms and agricultural businesses in Illinois?
24 SBA 7(a) loans went to farms and agricultural businesses in Illinois recently, at a median of $150,000. Here are the lenders that made them, ranked.
24 SBA 7(a) loans went to farms and agricultural businesses in Illinois in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was The Huntington National Bank, with 6 loans.
What lending to farms and agricultural businesses in Illinois actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Agriculture and farming, Illinois | All 7(a) borrowers |
|---|---|---|
| Loans approved | 24 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $270,375 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.50% | 10.25% |
| Share to startups | 45.8% | 33.6% |
| Charge-off rate, FY2010-19 cohort | not enough history | 7.1% |
Which lenders actually funded them
Ranked by loans approved to farms and agricultural businesses in Illinois. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 6 | $48,000 | 67% | 9.25% |
| BayFirst National Bank | 5 | $150,000 | 0% | 13.25% |
| Readycap Lending, LLC | 2 | $37,500 | 0% | 14.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $150,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- New businesses do well here. 46% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- One lender dominates. The Huntington National Bank alone made 25% of these loans, and the top three made 54%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
Which of them lend to new businesses
Of those loans, 45.8% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 4 | $48,000 | 67% | 9.25% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Illinois: restaurants and hotels, construction, trucking, personal services, retail, healthcare
- Agriculture in comparable states: Massachusetts, Nebraska, Tennessee, New Hampshire, Colorado, Arizona