First Illinois Development
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Illinois Development · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 332321 | Metal Window and Door Manufacturing | 1 | $50K | $50K | 25.0% |
Geographic Distribution
SBA lending activity for First Illinois Development by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 4 | $300K | 100.0% |
Why Choose First Illinois Development?
Based on SBA 7(a) lending track record from 1995-1997
- ✓Proven Track Record: 4 SBA loans approved, totaling $300K in financing
- ✓Industry Expertise: Specialized focus on Metal Window and Door Manufacturing
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 51 months
- ✓Loan Range: Loan sizes from $50K to $150K, with an average of $75K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about First Illinois Development SBA lending
What types of businesses does First Illinois Development typically finance?
First Illinois Development specializes in SBA 7(a) lending to specific industries including metal window and door manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Illinois Development's typical SBA loan terms?
First Illinois Development's SBA 7(a) loans typically feature an average interest rate of — and average term length of 51 months (approximately 4 years). Loan sizes range from $50K to $150K, with an average loan size of $75K.
Do I need a business valuation for a First Illinois Development SBA loan?
Yes, First Illinois Development typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does First Illinois Development compare to other SBA lenders?
First Illinois Development has originated 4 SBA loans totaling $300K since 1995. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does First Illinois Development lend in?
First Illinois Development provides SBA 7(a) financing with particularly strong presence in IL. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
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