Lending data
Who actually lends to construction and contracting businesses in Illinois?
901 SBA 7(a) loans went to construction and contracting businesses in Illinois recently, at a median of $148,000. Here are the lenders that made them, ranked.
901 SBA 7(a) loans went to construction and contracting businesses in Illinois in the most recent fiscal years. The median was $148,000 over 10 years. The most active lender was The Huntington National Bank, with 247 loans.
What lending to construction and contracting 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 | Construction and contracting, Illinois | All 7(a) borrowers |
|---|---|---|
| Loans approved | 901 | 214,102 |
| Median loan | $148,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $300,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.25% | 10.25% |
| Share to startups | 21.6% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 9.9% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to construction and contracting 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 | 247 | $95,000 | 25% | 10.50% |
| U.S. Bank | 130 | $40,000 | 28% | 9.74% |
| JPMorgan Chase Bank | 79 | $200,000 | 5% | 10.95% |
| BayFirst National Bank | 32 | $150,000 | 0% | 12.25% |
| PNC Bank | 30 | $50,000 | 23% | 11.50% |
| Readycap Lending, LLC | 28 | $50,000 | 0% | 13.88% |
| Northeast Bank | 21 | $150,000 | 10% | 10.25% |
| United Midwest Savings Bank | 18 | $150,000 | 94% | 10.25% |
| Bank of Springfield | 17 | $149,200 | 24% | 8.50% |
| Village Bank and Trust | 16 | $500,000 | 19% | 8.38% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $148,000 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.
- This is a hard market for new businesses. Only 22% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- One lender dominates. The Huntington National Bank alone made 27% of these loans, and the top three made 51%. 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.
- Lenders have been burned here before. 9.9% of loans to this market from the FY2010-2019 cohorts were charged off, against 7.1% overall. That history is why underwriting in this sector is tighter than the numbers alone would suggest — it is not personal.
Which of them lend to new businesses
Of those loans, 21.6% 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 | 61 | $95,000 | 25% | 10.50% |
| U.S. Bank | 36 | $40,000 | 28% | 9.74% |
| United Midwest Savings Bank | 17 | $150,000 | 94% | 10.25% |
| PNC Bank | 7 | $50,000 | 23% | 11.50% |
| Barrington Bank & Trust Company | 5 | $646,500 | 71% | 7.75% |
| Old National Bank | 5 | $479,000 | 56% | 8.50% |
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, trucking, personal services, retail, healthcare, professional services
- Construction in comparable states: Colorado, Washington, Massachusetts, New Jersey, Minnesota, Pennsylvania