Byline Bank
SBA Preferred Lender bank: SBA 7(a) loans $350K to $5M, 9.5% median starting rate, plus 504 and CAPLines; weeks to close. Best for established firms and buyers.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Established businesses, franchisees and buyers seeking an SBA 7(a) or 504 loan of $350,000 or more, especially around Chicago and Milwaukee.
Not for: Borrowers who want posted rates or money within days; SBA loans are marketed from $350,000 (smaller loans may go through Byline Express).
Lender List verdict: Byline Bank is one of the busiest U.S. SBA lenders, with 436 7(a) approvals worth $517.1 million in the 12 months to June 30, 2026, at a 9.5% median starting rate. It approves in-house as a Preferred Lender but publishes no rates or fees.
Byline Bank at a glance
| Byline Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 20624); SBA Preferred Lender |
| HQ | Chicago, Illinois (parent Byline Bancorp, NYSE: BY) |
| Products | SBA 7(a), SBA 504, SBA CAPLines |
| Amounts | Up to $5,000,000; marketed from $350,000 (SBA data: $10,000 to $5,000,000) |
| Cost | 9.5% median starting rate (last 12 months) |
| Status | Active; latest approval June 29, 2026 |
What is Byline Bank?
Byline Bank is a Chicago bank chartered in 1972 with $9.9 billion in assets and 54 offices, per FDIC data at June 30, 2026. It calls itself Illinois's No. 1 SBA 7(a) lender 15 years running.
How Byline Bank's SBA loans work
Byline Bank makes SBA 7(a) loans up to $5 million and decides them in-house under the SBA's Preferred Lender Program. It approved 505 7(a) loans in FY2025, averaging about $1.19 million over the last 12 months.
- Terms: real-estate terms run as long as 25 years, other debt 15 (bank-stated); 10 years is the median
- Financing: up to 100% on equipment and 90% on owner-occupied real estate
- Uses: acquisitions, search-fund deals, franchises, expansion, refinancing
Byline Bank SBA rates and fees
Byline Bank's SBA 7(a) loans had a 9.5% median starting rate in the 12 months to June 30, 2026. SBA rules cap variable rates at Prime (7.00% today) plus 4.5% for $250,001 to $350,000 loans and plus 3.0% above.
Worked example: a $350,000, 10-year loan at 9.5% costs $4,528.91 a month, or $543,469.74 over 120 payments, including $193,469.74 of interest. The 3% SBA guaranty fee on the 75% guaranteed share adds $7,875, lifting the APR to about 10.04%. At the 11.5% cap, the payment would be $4,920.84 (about 12.06% APR).
Byline Bank requirements
Byline Bank publishes no credit-score minimum.
| Requirement | Byline Bank minimum |
|---|---|
| Personal credit score | Lender does not publish |
| Equity injection | 10% for startups and business purchases (SBA rule) |
| Guarantee | Personal guarantee from 20%+ owners |
| Time to close | Lender does not publish; SBA 7(a) loans often take 30 to 90 days |
Compare Busey Bank, SBA platform iBusiness Funding (not a lender), or all SBA 7(a) loans.
Frequently asked questions about Byline Bank
Is Byline Bank Legit? Yes. Byline Bank is an FDIC-insured bank (cert 20624) chartered in 1972, owned by NYSE-listed Byline Bancorp, and an SBA Preferred Lender. About 0.9% of its 2,995 SBA 7(a) loans since FY2020 were charged off. Trustpilot lists no reviews yet.
How Big Is Byline Bank? Byline Bank held $9.9 billion in assets at June 30, 2026, with 54 offices, most of them around Chicago and Milwaukee. Its parent is based at 180 North LaSalle Street in Chicago, and its SBA loans since FY2020 reached 51 states and territories.
How Long Does Byline Bank Take to Close an SBA Loan? Expect about 30 to 90 days from application to funding; Byline does not publish its own timeline. As a Preferred Lender it can approve 7(a) loans itself, skipping the SBA's separate review, which the bank says saves borrowers weeks of waiting.
Does Byline Bank Lend to Startups? Byline does not advertise startup loans, but it finances franchises and self-funded search acquisitions. SBA rules require startups and buyers to put in at least 10% equity. SBA loans are marketed from $350,000, though SBA data show loans as small as $10,000.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Established businesses, franchisees and buyers seeking an SBA 7(a) or 504 loan of $350,000 or more, especially around Chicago and Milwaukee.
Not for: Borrowers who want posted rates or money within days; SBA loans are marketed from $350,000 (smaller loans may go through Byline Express).
Lender List verdict: Byline Bank is one of the busiest U.S. SBA lenders, with 436 7(a) approvals worth $517.1 million in the 12 months to June 30, 2026, at a 9.5% median starting rate. It approves in-house as a Preferred Lender but publishes no rates or fees.
Byline Bank at a glance
| Byline Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 20624); SBA Preferred Lender |
| HQ | Chicago, Illinois (parent Byline Bancorp, NYSE: BY) |
| Products | SBA 7(a), SBA 504, SBA CAPLines |
| Amounts | Up to $5,000,000; marketed from $350,000 (SBA data: $10,000 to $5,000,000) |
| Cost | 9.5% median starting rate (last 12 months) |
| Status | Active; latest approval June 29, 2026 |
What is Byline Bank?
Byline Bank is a Chicago bank chartered in 1972 with $9.9 billion in assets and 54 offices, per FDIC data at June 30, 2026. It calls itself Illinois's No. 1 SBA 7(a) lender 15 years running.
How Byline Bank's SBA loans work
Byline Bank makes SBA 7(a) loans up to $5 million and decides them in-house under the SBA's Preferred Lender Program. It approved 505 7(a) loans in FY2025, averaging about $1.19 million over the last 12 months.
- Terms: real-estate terms run as long as 25 years, other debt 15 (bank-stated); 10 years is the median
- Financing: up to 100% on equipment and 90% on owner-occupied real estate
- Uses: acquisitions, search-fund deals, franchises, expansion, refinancing
Byline Bank SBA rates and fees
Byline Bank's SBA 7(a) loans had a 9.5% median starting rate in the 12 months to June 30, 2026. SBA rules cap variable rates at Prime (7.00% today) plus 4.5% for $250,001 to $350,000 loans and plus 3.0% above.
Worked example: a $350,000, 10-year loan at 9.5% costs $4,528.91 a month, or $543,469.74 over 120 payments, including $193,469.74 of interest. The 3% SBA guaranty fee on the 75% guaranteed share adds $7,875, lifting the APR to about 10.04%. At the 11.5% cap, the payment would be $4,920.84 (about 12.06% APR).
Byline Bank requirements
Byline Bank publishes no credit-score minimum.
| Requirement | Byline Bank minimum |
|---|---|
| Personal credit score | Lender does not publish |
| Equity injection | 10% for startups and business purchases (SBA rule) |
| Guarantee | Personal guarantee from 20%+ owners |
| Time to close | Lender does not publish; SBA 7(a) loans often take 30 to 90 days |
Compare Busey Bank, SBA platform iBusiness Funding (not a lender), or all SBA 7(a) loans.
Frequently asked questions about Byline Bank
Is Byline Bank Legit? Yes. Byline Bank is an FDIC-insured bank (cert 20624) chartered in 1972, owned by NYSE-listed Byline Bancorp, and an SBA Preferred Lender. About 0.9% of its 2,995 SBA 7(a) loans since FY2020 were charged off. Trustpilot lists no reviews yet.
How Big Is Byline Bank? Byline Bank held $9.9 billion in assets at June 30, 2026, with 54 offices, most of them around Chicago and Milwaukee. Its parent is based at 180 North LaSalle Street in Chicago, and its SBA loans since FY2020 reached 51 states and territories.
How Long Does Byline Bank Take to Close an SBA Loan? Expect about 30 to 90 days from application to funding; Byline does not publish its own timeline. As a Preferred Lender it can approve 7(a) loans itself, skipping the SBA's separate review, which the bank says saves borrowers weeks of waiting.
Does Byline Bank Lend to Startups? Byline does not advertise startup loans, but it finances franchises and self-funded search acquisitions. SBA rules require startups and buyers to put in at least 10% equity. SBA loans are marketed from $350,000, though SBA data show loans as small as $10,000.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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