Top Industries Financed
- Child Day Care Services
- Full-Service Restaurants
- Plumbing, Heating, and Air-Conditioning Contractors
- Limited-Service Restaurants
- Machine Shops
Quick Summary
Morton Community Bank is an SBA-approved lender headquartered in Morton, Illinois. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 58 SBA 7(a) loans totaling $14.1M, with an average loan size of $244K. They serve businesses across 2 states.
About Morton Community Bank
Morton Community Bank is an SBA-approved lender headquartered in Morton, Illinois. Since 2020, they have approved 58 SBA 7(a) loans totaling $14.1M, with an average loan size of $244K. 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 2 states.
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Frequently Asked Questions
Is Morton Community Bank an SBA Preferred Lender?
Yes, Morton Community Bank 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 Morton Community Bank approved?
According to SBA FOIA public records, Morton Community Bank has approved 58 SBA 7(a) loans totaling $14.1M since 2020. Their average loan size is $244K.
What states does Morton Community Bank serve?
Morton Community Bank serves businesses in 2 states: Iowa, Illinois.
How do I apply for an SBA loan with Morton Community Bank?
To apply for an SBA 7(a) loan with Morton Community Bank, 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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