Reach Your Business Goals with Small Business Loans Illinois
Home to more than the original ice cream sundae or the world’s largest bakery, Illinois thrives on agriculture and small businesses that affect the entire nation. That’s why we believe Illinois small business loans are so important, if the ‘little guy’ succeeds, we all do.
In Illinois, small businesses make up over 45% of all employment with over 1.2 million small businesses (SBA, 2019) located in the state. With good infrastructure, large metropolitan areas such as Chicago, and an educated workforce, you know that there are plenty of development opportunities for a small business owner in Illinois. In order to make the most of the state’s economy as you grow your business, you need a way to cover your business expenses and take advantage of opportunities that come your way. Small business loans in Illinois can help your business succeed.
“As a business owner in Illinois, you know there are plenty of opportunities across multiple industries.”
Equipment Financing and Small Business Funding in Illinois
From updating equipment to paying recurring expenses, we have the loans and small business financing solutions you need.
Small Business Loans in Illinois
When you need to pay taxes, hire new employees or expand to a new location, an Illinois business loan can provide a welcome cash infusion. Secure financing from $5,000 to $500,000 for your Illinois small business.
Equipment Leasing and Financing in Illinois
It’s important to keep business equipment updated and in good repair. Equipment leasing and financing allows you to get up to $150,000 for new or pre-owned equipment.
A Variety of Financing Support and Solutions for Illinois Businesses
Finding small business loans in Illinois that work for your business doesn’t have to be a challenge or a miserable program. Work with a dedicated National Funding loan specialist to receive all the information you need and create a business loan that’s tailored to your needs and goals. We’ll help you better understand your financing options and business loan rates in Illinois.
Working Capital Loans Fuel Your Illinois Business
We’ve Got a Financing Solution That’s Right for Your Business
If you’ve been struggling to secure small business loans in Illinois, consider the help of an alternative lender like National Funding. We make it easier to find a financing solution that helps you run a successful business, regardless of your credit score, and we do it fast. Speak with our loan specialists today to learn more about bad credit business loans in Illinois.
No waiting, no delays.
Get approved within 24 hours.1
Do You Qualify 1
1 Year in Business
$150,000 in Annual Gross Sales
3 Months' Bank Statements
Get a Solution
Review financing options with your dedicated National Funding loan specialist.
Learn how easy it is to work with us, and how hard we work for you.
The money you need is deposited in your checking account — quickly and easily.
What can we do for your business?
Apply online or give us a call at 888-733-2383.
Ratings & Reviews
Read our reviews to learn why Illinois business owners trust their business financing needs to National Funding.
How We Compare to Other Financing Solutions
No two businesses are the same. At National Funding, we take the time to learn about your business to help you find the perfect financing solution for your needs. Whether you need to purchase new business equipment or are looking for a loan to cover your working capital needs, we’ll help tailor a solution that fits your needs. Our difference from other financing solutions is simple — provide strong assistance. Customized small business lending options and resources can help foster your financial well being and allow you to transform your vision into reality.
Frequently Asked Questions (FAQs):
It is not difficult to receive financial support in Illinois. National Funding provides a simple application and a 24-hour1 approval process to help you quickly get small business loans in Illinois. Work with your dedicated loan specialist to get a personalized solution and avoid the hassle of extensive paperwork or drawn out applications.
National Funding provides a variety of options for all types of business owners. As an alternative lender, we can work with you where you are at. We know your credit score doesn’t represent your business, so we provide bad credit business loans that support your work and help you repair your credit. Whether you need to hire more employees or receive a short-term cash infusion to cover taxes, National Funding can help link your small business in Illinois to the right financing solution you need.
True to our mission, we encourage you to read the following policies and learn how they affect you as a client.
(1) 24 hours:
Fast approvals and 24 hour funding subject to receipt of required documentation, underwriting guidelines, and processing time by your bank. Funds are deposited into your business checking account as soon as the next business day after approval and acceptance of terms.
(2) Early payoff discounts:
National Funding offers special opportunities for its customers to terminate contracts early and receive a discount in the process. Equipment Finance customers who pay off the total remaining balance early, at any point during the contract, will automatically receive a 6% discount off the total remaining balance. Working Capital customers who pay off the total remaining balance in full within the first 100 days of the contract will automatically receive a 7% discount off the total remaining balance. We do not currently offer a discount on our lease contracts. Customers must pay off the balance in full, be current, and in good standing to take advantage of the discount within the time parameters.
(3) Automatic payments:
Loan payments are withdrawn via Automatic Clearing House (ACH) Monday through Friday excluding bank holidays.
(4) Wide variety of payment options:
- Equipment Financing: payments are remitted monthly with terms of 2-5 years
- Working Capital Loan: payments can be remitted daily or weekly with terms of 4 months up to 24 months
(5) Potential Tax Savings:
The Section 179 Tax Deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. Meaning, if you buy (or lease) a piece of qualifying equipment, you can deduct 100% of the purchase price from your gross income. You can secure the equipment, tools, and technology you need, while also taking advantage of significant tax deductions - up to $1,000,000. Consult your tax professional for more details.
(6) Guaranteed lowest payment:
Pursuant to the terms and conditions specified in these Rules and Restrictions of the Guaranteed Lowest Payment, National Funding guarantees to provide the lowest payment on equipment leased through National Funding, for lease terms from 24 to 60 months, or to pay $1000 towards qualifying executed leases. Lease payment comparisons must be based on a lease in excess of $10,000, for approved equipment, and with the same terms and conditions as those offered by National Funding within seven days that the National Funding terms are issued. To be eligible, customers must provide a competitive lease quote without contingencies, and vendor invoice, and in the name of the lessee within seven calendar days of the date National Funding issues its terms. Guarantee only valid on competitive equipment leases. Equipment finance agreements do not qualify.
In the event that the monthly lease payment amount from the competing lease company or bank is lower than the monthly payment that is being offered by National Funding for the same equipment and pursuant to the same terms, National Funding will verify the validity and accuracy of the competing leasing company’s or bank’s payment options, terms and the vendor quote. National Funding has the option, in its sole discretion, to either beat the competing leasing company’s or bank’s monthly payment rate, or pay $1000 to the lessee. The lessee must provide National Funding with the competing company’s or bank’s signed lease agreement with payment terms/options, and take delivery of the equipment. Payments will be made within 30 days, and lessee is responsible for any taxes.
The Guaranteed Lowest Payment is available to both new and established customers of National Funding. This offer is valid for new lease applications only. The Guaranteed Lowest Payment is not retroactive — a previously funded equipment lease with National Funding is not eligible for the Guaranteed Lowest Payment. Only non-contingent offers of lease terms and payment are eligible. Offers made to lessee that include subsidization by manufacturers and/or vendors will not be considered in comparing competing offers.
The Guaranteed Lowest Payment may be discontinued at any time without notice.
To participate in the Guaranteed Lowest Payment program, if you have a lease agreement and vendor quote which you believe will qualify for the program, contact your National Funding Lease Manager.
(7) Terms and Conditions apply:
This is not a guaranteed offer of credit. Loans subject to lender approval. Approval amount is based on eligibility determined by information obtained from Dun & Bradstreet. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average bank balances, personal credit and other variables deemed relevant by the lender.