Byline Bank Ranked 5th Nationally for SBA 7(a) Lending
Byline ranked No. 1 SBA lender in Illinois for the 15th year
CHICAGO, Oct. 16, 2023 /PRNewswire/ -- Byline Bank once again ranked fifth among lenders nationwide in loan volume for SBA 7(a) lending by the U.S. Small Business Administration (SBA) at the close of the SBA's fiscal year on September 30, 2023. Byline also earned the top spot among Illinois lenders in SBA 7(a) loan volume and ranked first nationally for International Trade Loans.
This marks the 15th consecutive year that Byline has received recognition as the top SBA 7(a) lender in Illinois, delivering $139 million in Illinois SBA-backed 7(a) loans in FY2023 to small business borrowers. Byline also ranked second for Third Party Lenders for SBA 504 loans in Illinois during FY2023 with $35 million in SBA 504 loans.
"Byline Bank as an SBA Lender continues to play an instrumental role in delivering funding to fuel the aspirations and growth of small businesses across Illinois," said Bob Esquivel, Supervisory Lender Relations Specialist, Illinois District Office of the U.S. Small Business Administration. "Their consistency as a top SBA lender in Illinois is truly commendable, ensuring these businesses have the financial partners and resources required for their journey to success and job creation. We are grateful to have dedicated lending partners like Byline."
"Small businesses are the lifeblood of our communities, and Byline is proud to have supported small business owners in securing the vital capital they need to pursue their dreams and grow their businesses," said Tom Abraham, President, Small Business Capital, the SBA lending division of Byline Bank. "A significant portion of Illinois' private workforce is employed by small businesses, which is one of the many reasons we're committed to nurturing entrepreneurship and economic growth in Illinois."
"We know that Byline Bank is more than a financial institution to our customers; it's a lifeline for many of our community's small businesses," said Brogan Ptacin, Byline's Executive Vice President, Head of Commercial Banking. "The SBA 504 loan program promotes business growth and job creation, and we're proud to be a part of that. Being recognized as a top lender for both SBA 7(a) and 504 loans once again reaffirms our commitment to empowering local entrepreneurs."
SBA Lending Beyond Illinois
Nationally, Byline Bank ranked fifth for SBA 7(a) loan volume in FY2023 with nationwide loans totaling $536 million. Byline also remained the number-one lender of SBA International Trade Loans (ITL) nationally for the third consecutive year, providing $31 million in vital SBA-backed export financing loans to small businesses in FY2023. Additionally, Byline ranked second for SBA 7(a) lending by volume by the Wisconsin District Office of the SBA, with $28 million worth of loans granted in Wisconsin in FY2023.
About Byline Bank's Small Business Capital Group
Byline Bank's Small Business Capital team specializes in government-guaranteed lending, providing SBA financing throughout the country, with a primary focus in the Midwest, Florida, Colorado, Utah and California. Byline is distinguished by the SBA as an SBA Preferred Lender, and also specializes in USDA lending nationwide.
About Byline Bank
Headquartered in Chicago, Byline Bancorp, Inc. (NYSE: BY) is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bancorp, Inc. completed its acquisition of Inland Bancorp, Inc. on July 1, 2023, with the combined entity operating as Byline Bank and as a result has approximately $8.8 billion in assets and operates 48 total branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. For more information, visit www.bylinebank.com. Byline Bank is a member of the FDIC and an equal housing lender.
SOURCE Byline Bank
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