Child Care Services acquisitions in Illinois: SBA loan data
Since FY2018, SBA lenders have approved 25 7(a) loans to buy an existing business classified as Child Care Services in Illinois, totaling $26.7M. The median loan was $630,000. That is 1.4% of the 1,779 acquisition loans in Illinois.
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How Child Care Services in Illinois compares
| Measure | Child Care Services in Illinois | Illinois, all industries | Child Care Services, nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $630,000 | $650,000 | $763,300 | $645,250 |
| Middle half of loans | $303,500 to $1,172,800 | $300,000 to $1,551,000 | $368,750 to $1,619,500 | $283,000 to $1,465,000 |
| Average initial rate | 7.95% | 7.78% | 7.55% | 7.76% |
| Median term | 19.9 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | n/a | 4.5% | 0.8% | 3.5% |
| Loans in sample | 25 | 1,779 | 850 | 48,902 |
The median for loans to buy daycares in Illinois is $630,000, in line with the $650,000 median for all Illinois acquisitions, below the $763,300 median for Child Care Services acquisitions nationwide and in line with the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $303,500 to $1,172,800, against $283,000 to $1,465,000 nationally; the median term is 19.9 years, longer than the national median of 10 years; the average initial rate is 7.95%, above the 7.76% national average.
Too few of these loans are old enough to measure a charge-off rate; the national rate for seasoned acquisition loans is 3.5%.
Loan size distribution
| Loan size | Child Care Services in Illinois | All acquisitions |
|---|---|---|
| Under $350K | 32% | 30% |
| $350K to under $1M | 40% | 33% |
| $1M to under $2M | 12% | 19% |
| $2M and over | 16% | 17% |
Most loans to buy daycares in Illinois (72%) were under $1M, and the largest single band is $350K to under $1M at 40%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Live Oak Banking Company made 16% of loans to buy daycares in Illinois, and the top three lenders together made 32%. 1 of the 19 lenders involved made three or more. Only 1 lender has repeat experience here. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 8 loans to buy daycares in Illinois were approved. Fewer than 10 loans were approved in FY2023 and FY2024, so no change is computed. The median was $771,500, above the $630,000 median across all years.
Child Care Services acquisition loans in Illinois by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $1.1M | $228,000 | |
| FY2019 | 3 | $2.3M | $480,800 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 1 | $135K | $135,000 | |
| FY2022 | 4 | $11.1M | $2,815,000 | |
| FY2023 | 3 | $1.3M | $375,000 | |
| FY2024 | 3 | $2.4M | $1,172,800 | |
| FY2025 | 3 | $5.1M | $2,345,000 | |
| FY2026 | 5 | $3.4M | $662,000 |
How often do these acquisition loans fail?
Fewer than 20 Child Care Services in Illinois acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 4 | 16.0% | $13.3M | |
| 2 | The Huntington National Bank | 2 | 8.0% | $1.3M | |
| 3 | Bank of Springfield | 2 | 8.0% | $870K | |
| 4 | First Mid Bank & Trust, National Association | 2 | 8.0% | $608K | |
| 5 | Banesco USA | 1 | 4.0% | $2.4M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Goddard School | 5 | 20.0% | $5.1M | |
| 2 | Primrose Schools | 2 | 8.0% | $10M |
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Questions buyers ask
How much do SBA loans for Child Care Services acquisitions in Illinois run?
The median SBA 7(a) loan was $630,000 across 25 loans (FY2018 to FY2026), with the middle half between $303,500 and $1,172,800. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Child Care Services acquisitions in Illinois?
Live Oak Banking Company (4), The Huntington National Bank (2), Bank of Springfield (2), First Mid Bank & Trust, National Association (2), Banesco USA (1). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Child Care Services acquisition loans fail in Illinois?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Child Care Services acquisitions in Illinois?
7 of the 25 loans (28%) involved a franchise brand, most often The Goddard School (5).
How much do you need down for an SBA loan to buy a daycare in Illinois?
The SBA requires the buyer to make an equity injection, commonly 10% of total project cost, and a lender may ask for more. The SBA file does not record injections, so the figures here are the financed portion: the median for loans to buy daycares in Illinois was $630,000, and the middle half ran $303,500 to $1,172,800.
How long does an SBA acquisition loan take?
For a change-of-ownership 7(a) loan, 45 to 90 days from application to close is typical. It varies by lender and by how quickly third-party reports, such as the business valuation and appraisal, come back. The SBA file records approval dates, not application dates, so this site cannot measure it. Lenders approved 8 loans to buy daycares in Illinois in FY2025 and FY2026.
Which banks make SBA loans for a daycare in Illinois?
By loan count, FY2018 to FY2026: Live Oak Banking Company (4), The Huntington National Bank (2), Bank of Springfield (2), First Mid Bank & Trust, National Association (2), Banesco USA (1). Live Oak Banking Company made 16% of loans to buy daycares in Illinois. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Related
- All Illinois acquisitions
- Child Care Services nationally
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Small samples move a lot: each loan in this combination is 4% of the count. Industry is the NAICS code the lender recorded. See the methodology.
Cite this data
SBA Acquisition Data, "Child Care Services in Illinois: SBA acquisition loan data", https://sbaacquisitiondata.com/state/il/child-care-services-624410 (data as of September 30, 2026). Source: U.S. Small Business Administration 7(a) loan file, data.sba.gov. Aggregated by SBA Acquisition Data.
The figures on this page are also published as JSON at https://sbaacquisitiondata.com/data/state/il/child-care-services-624410.json.