Full-Service Restaurants acquisitions in Illinois: SBA loan data
Since FY2018, SBA lenders have approved 119 7(a) loans to buy an existing business classified as Full-Service Restaurants in Illinois, totaling $69.8M. The median loan was $350,000. That is 6.7% of the 1,779 acquisition loans in Illinois.
- Loans, FY2018-FY2026
- 119
- Median loan
- $350,000 (middle half $190,650 to $772,500)
- Top lender
- The Huntington National Bank (34%, 41 loans)
- Charge-off, FY2018-FY2021 loans
- 9.3% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 14 (-26% vs FY2025)
SBA lenders approved 119 7(a) loans to buy a business classified as Full-Service Restaurants in Illinois from FY2018-FY2026, with a median of $350,000 and a middle half of $190,650 to $772,500. The Huntington National Bank made 34% of them. FY2026 had 14 loans, down 26% from FY2025.
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How Full-Service Restaurants in Illinois compares
| Measure | Full-Service Restaurants in... | Illinois, all industries | Full-Service Restaurants, nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $350,000 | $650,000 | $411,700 | $645,250 |
| Middle half of loans | $190,650 to $772,500 | $300,000 to $1,551,000 | $225,000 to $819,000 | $283,000 to $1,465,000 |
| Average initial rate | 8.12% | 7.78% | 8.08% | 7.76% |
| Median term | 10 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 9.3% | 4.5% | 5.9% | 3.5% |
| Loans in sample | 119 | 1,779 | 2,797 | 48,902 |
The median for loans to buy restaurants in Illinois is $350,000, well below the $650,000 median for all Illinois acquisitions, slightly below the $411,700 median for Full-Service Restaurants acquisitions nationwide and well below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $190,650 to $772,500, against $283,000 to $1,465,000 nationally; the median term is 10 years, the same as the national median; the average initial rate is 8.12%, above the 7.76% national average.
Seasoned loans were charged off at 9.3%, well above the 4.5% rate for all Illinois acquisitions, well above the 5.9% rate for Full-Service Restaurants acquisitions nationwide and well above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Full-Service Restaurants in... | All acquisitions |
|---|---|---|
| Under $350K | 49% | 30% |
| $350K to under $1M | 34% | 33% |
| $1M to under $2M | 13% | 19% |
| $2M and over | 4% | 17% |
Most loans to buy restaurants in Illinois (83%) were under $1M, and the largest single band is Under $350K at 49%, against 30% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
The Huntington National Bank made 34% of loans to buy restaurants in Illinois, and the top three lenders together made 47%. 9 of the 49 lenders involved made three or more. Repeat experience is spread across many banks. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 33 loans to buy restaurants in Illinois were approved. That is 14% more than the 29 approved in FY2023 and FY2024. The median was $517,000, well above the $350,000 median across all years.
Full-Service Restaurants acquisition loans in Illinois by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 10 | $3.7M | $241,000 | |
| FY2019 | 16 | $11.5M | $496,500 | |
| FY2020 | 7 | $6.2M | $502,000 | |
| FY2021 | 10 | $3.6M | $240,000 | |
| FY2022 | 14 | $7.2M | $344,400 | |
| FY2023 | 10 | $6.1M | $365,000 | |
| FY2024 | 19 | $7.8M | $355,000 | |
| FY2025 | 19 | $12.3M | $450,000 | |
| FY2026 | 14 | $11.4M | $522,000 |
How often do these acquisition loans fail?
Of the 43 Full-Service Restaurants in Illinois acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 4 have been charged off by the SBA, a rate of 9.3% by loan count and 5.1% by dollars. 26 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Full-Service Restaurants in Illinois is 164% higher than the acquisition-loan average. 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 | The Huntington National Bank | 41 | 34.5% | $16.6M | |
| 2 | Byline Bank | 11 | 9.2% | $12.1M | |
| 3 | First Mid Bank & Trust, National Association | 4 | 3.4% | $2.4M | |
| 4 | First Bankers Trust Company National Association | 4 | 3.4% | $934K | |
| 5 | CenTrust Bank, A Division of SmartBiz Bank National Association | 3 | 2.5% | $4.8M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Subway | 5 | 4.2% | $1.9M | |
| 2 | Rosati's Pizza | 3 | 2.5% | $705K | |
| 3 | Culver's | 2 | 1.7% | $1.3M | |
| 4 | Buffalo Wings & Rings | 2 | 1.7% | $1.1M | |
| 5 | Jimmy John's | 1 | 0.8% | $1.1M |
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Questions buyers ask
How much do SBA loans for Full-Service Restaurants acquisitions in Illinois run?
The median SBA 7(a) loan was $350,000 across 119 loans (FY2018 to FY2026), with the middle half between $190,650 and $772,500. 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 Full-Service Restaurants acquisitions in Illinois?
The Huntington National Bank (41), Byline Bank (11), First Mid Bank & Trust, National Association (4), First Bankers Trust Company National Association (4), CenTrust Bank, A Division of SmartBiz Bank National Association (3). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Full-Service Restaurants acquisition loans fail in Illinois?
9.3% of 43 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Full-Service Restaurants acquisitions in Illinois?
18 of the 119 loans (15%) involved a franchise brand, most often Subway (5).
How much do you need down for an SBA loan to buy a restaurant 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 restaurants in Illinois was $350,000, and the middle half ran $190,650 to $772,500.
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 33 loans to buy restaurants in Illinois in FY2025 and FY2026.
Which banks make SBA loans for a restaurant in Illinois?
By loan count, FY2018 to FY2026: The Huntington National Bank (41), Byline Bank (11), First Mid Bank & Trust, National Association (4), First Bankers Trust Company National Association (4), CenTrust Bank, A Division of SmartBiz Bank National Association (3). The Huntington National Bank made 34% of loans to buy restaurants 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
- Financing one? How to get an SBA loan to buy a restaurant
- Full-Service Restaurants nationally
- Full-Service Restaurants in California
- Full-Service Restaurants in Texas
- Full-Service Restaurants in Florida
- Full-Service Restaurants in Washington
- Full-Service Restaurants in Georgia
- Full-Service Restaurants in Pennsylvania
- Full-Service Restaurants in Michigan
- Full-Service Restaurants in Wisconsin
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Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.
Cite this data
SBA Acquisition Data, "Full-Service Restaurants in Illinois: SBA acquisition loan data", https://sbaacquisitiondata.com/state/il/full-service-restaurants-722511 (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/full-service-restaurants-722511.json.