Carrollton Bank

This is Carrollton Bank, a local financial institution offering SBA loans and banking services to support small business growth and development in Illinois and nearby regions.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours.

The bank operates from 9:00 AM to 4:30 PM, Monday through Friday.

There are no fees to access basic banking services; loan application fees and closing costs may apply depending on the specific loan.

This bank primarily serves residents and small business owners in Illinois and the surrounding region, but non-residents may also qualify based on their business location and needs.

A minimum personal credit score of 650 is generally preferred, though higher scores may improve loan terms.

The underwriting process typically takes between 30 to 45 days, depending on the complexity of the application and completeness of documentation.

Most banks keep weekday business hours and are closed on weekends, and Carrollton Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Carrollton Bank to confirm current weekend availability before you go.

Carrollton Bank is located in Illinois — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Carrollton Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Carrollton Bank itself, which runs its own lending under its own ownership. If you work at Carrollton Bank, you can claim this listing from this page to manage it.

The core details for Carrollton Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Carrollton Bank before applying. If you represent Carrollton Bank, claim this listing to keep its information up to date.

You can reach Carrollton Bank by phone at (217) 942-5408 or online at carrolltonbanking.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Carrollton Bank before relying on them.

Based on its approved SBA loans, Carrollton Bank most often finances businesses in manufacturing, childcare & early education, construction & contractors, wholesale & distribution, and restaurants & food service. This reflects Carrollton Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Carrollton Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Carrollton Bank participates in SBA Express depends on its specific SBA lending authority. Contact Carrollton Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Carrollton Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Carrollton Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Carrollton Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Carrollton Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Carrollton Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Carrollton Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Carrollton Bank weighs this case by case under its own policy, so be upfront about your history and ask Carrollton Bank how it evaluates prior bankruptcies.