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SBA lenders in Waukegan, IL

SBA 7(a) and 504 loans to businesses in Waukegan (Lake County), October 2021 to June 30, 2026 · Updated October 15, 2026
48
SBA loans approved
$48.2M
Total approved
$469,650
Median loan
21
Lenders active
27%
To startups

48 SBA loans worth $48.2M went to businesses in Waukegan, IL between October 2021 and June 2026, from 21 lenders. Huntington National Bank made the most, 9 loans. The median loan was $469,650, compared with $231,000 across Illinois, and restaurants and hotels was the most financed industry.

Most active SBA lenders in Waukegan

#LenderLoansApprovedMedian loanTo startups
1Huntington National Bank
Bank · Columbus, OH
9$1.5M$76,00033%
2Byline Bank
Bank · Chicago, IL
8$15.4M$1,307,50062%
3U.S. Bank
Bank · Cincinnati, OH
4$3.3M$402,7500%
4Small Business Growth
Certified development company · Springfield, IL
3$3.9M$1,230,0000%
5First National Bank of Pennsylvania
Bank · Greenville, PA
3$2.2M$250,0000%
6GBank
Bank · Las Vegas, NV
2$4.5M$2,271,0000%
7Live Oak Banking
Bank · Wilmington, NC
2$3.5M$1,735,00050%
8First American Bank
Bank · Elk Grove Village, IL
2$1.8M$892,5000%
9SomerCor 504
Certified development company · Chicago, IL
2$723K$361,5000%
10State Bank of the Lakes
Bank · Antioch, IL
2$413K$206,5000%
11Millennium Bank
Bank · Des Plaines, IL
1$5.0M$5,000,0000%
12Celtic Bank
Bank · Salt Lake City, UT
1$1.8M$1,787,300100%
13Wessex 504
Certified development company · Arlington Heights, IL
1$1.2M$1,170,000100%
14Old National Bank
Bank · Evansville, IN
1$1.0M$1,000,0000%
15Associated Bank
Bank · Green Bay, WI
1$484K$483,800100%
7(a) and 504 lenders combined, ranked by number of loans to businesses in Waukegan. For 504 loans the lender shown is the certified development company.

What gets financed in Waukegan

IndustryLoansShareMedian loanMost active lender
Restaurants and hotels7
15%
$3,600,000Byline Bank
Health care and social assistance6
12%
$112,000Huntington National Bank
Construction6
12%
$207,500State Bank of the Lakes
Other services (repair, personal care)6
12%
$1,032,500Byline Bank
Manufacturing6
12%
$892,500First National Bank of Pennsylvania
Retail5
10%
$925,000U.S. Bank
Transportation and warehousing4
8%
$382,000U.S. Bank
Administrative and support services3
6%
$984,000Huntington National Bank
Loan size mix
  • Under $150,00023%
  • $150,000 to $500,00029%
  • $500,000 to $2 million35%
  • $2 million and up12%
Compared with Illinois
Median loan, Waukegan
$469,650
Median loan, Illinois
$231,000
Startup share, Waukegan
27%
Startup share, Illinois
27%
Share of state's SBA loans
0.4%

SBA loans per fiscal year in Waukegan

0102030FY14: 6 loansFY14FY15: 11 loansFY15FY16: 9 loansFY16FY17: 18 loansFY17FY18: 11 loansFY18FY19: 6 loansFY19FY20: 8 loansFY20FY21: 9 loansFY21FY22: 5 loansFY22FY23: 12 loansFY23FY24: 20 loansFY2420FY25: 6 loansFY25FY26 (Oct to Jun): 5 loansFY265
Fiscal year runs October to September. Fiscal 2026 covers October 2025 to June 2026 only.
Data from the U.S. Small Business Administration's public 7(a) and 504 loan records (through June 30, 2026) and FDIC call-report data (quarter ending June 30, 2026). US Lender Metrics is not affiliated with the SBA, FDIC, FFIEC, NCUA or any lender, is not a lender or loan broker, and does not make credit decisions. Information only; not financial, legal or lending advice. © 2026 US Lender Metrics.