States Served
Top Industries Financed
- Landscaping Services
- Full-Service Restaurants
- General Freight Trucking, Long Distance, Truckload
- All Other Specialty Trade Contractors
- All Other Personal Services
Quick Summary
Bank of Springfield is an SBA-approved lender headquartered in SPRINGFIELD, Illinois. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 215 SBA 7(a) loans totaling $71.5M, with an average loan size of $333K. They serve businesses across 16 states.
About Bank of Springfield
Bank of Springfield is an SBA-approved lender headquartered in SPRINGFIELD, Illinois. Since 2020, they have approved 215 SBA 7(a) loans totaling $71.5M, with an average loan size of $333K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 16 states.
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Nav is the only place where you can track your FICO SBSS score — the score the SBA uses to determine loan eligibility.
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Frequently Asked Questions
Is Bank of Springfield an SBA Preferred Lender?
Yes, Bank of Springfield is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Bank of Springfield approved?
According to SBA FOIA public records, Bank of Springfield has approved 215 SBA 7(a) loans totaling $71.5M since 2020. Their average loan size is $333K.
What states does Bank of Springfield serve?
Bank of Springfield serves businesses in 16 states: Alaska, Alabama, Arizona, Colorado, Florida, Iowa, Illinois, Kansas, Missouri, Mississippi, New York, Ohio, South Carolina, Tennessee, Texas, Virginia.
How do I apply for an SBA loan with Bank of Springfield?
To apply for an SBA 7(a) loan with Bank of Springfield, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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