Schaumburg Bank & Trust Company, National Association
Schaumburg Bank & Trust Company, National Association is an active SBA lender in the United States, a bank offering SBA-guaranteed small-business loans. Currently rated 4.5 stars across 31 Google reviews.
$45M
in SBA approvals since 2010
82
SBA loans funded
Manufacturing · Restaurants & Food Service · Automotive Repair & Services
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Schaumburg Bank & Trust Company, National Association
Schaumburg Bank & Trust Company, National Association offers comprehensive SBA lending solutions tailored for small and medium-sized businesses seeking financing options. With a focus on supporting business growth, the bank provides various SBA loan programs including the popular 7(a) program, which helps entrepreneurs access capital for expansion, working capital, or acquisition needs. The bank's experienced lending team guides clients through the application process, ensuring clarity and efficiency. Their commitment to small business success is reflected in their flexible loan terms and personalized service. Located in Schaumburg, Illinois, they serve a broad range of industries, emphasizing their ability to meet diverse business needs. Whether you're starting a new venture or expanding an existing business, Schaumburg Bank & Trust is equipped to assist with loans up to $490,000, backed by their strong understanding of SBA guidelines and local market conditions.
Common questions about Schaumburg Bank & Trust Company, National Association
What is this place and what can I find here?
This is a financial institution offering SBA loan programs and business financing solutions to help small and medium-sized businesses grow and succeed.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated service, but walk-ins may be accommodated depending on availability.
What are the hours of operation?
Typically, the bank operates from 9 am to 5 pm, Monday through Friday, but it's best to contact them directly for specific hours.
Is there a fee to use this?
There are no fees for accessing the bank's services, but loan-related fees such as guarantee and closing costs may apply.
Who is this open to — anyone, or only residents/members?
This bank primarily serves small business owners and entrepreneurs within its regional service area, but eligibility depends on meeting specific loan criteria.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 620 is generally required for guarantors.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Schaumburg Bank & Trust Company, National Association 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 Schaumburg Bank & Trust Company, National Association to confirm current weekend availability before you go.
How do I get there and where do I park?
Schaumburg Bank & Trust Company offers dedicated parking lots at its Schaumburg branch (1180 E Higgins Road, Schaumburg, IL 60173). Please confirm current parking availability and accessibility details with the branch.
Who owns or operates this listing?
This page is an independent directory listing for Schaumburg Bank & Trust Company, National Association, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Schaumburg Bank & Trust Company, National Association itself, which runs its own lending under its own ownership. If you work at Schaumburg Bank & Trust Company, National Association, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Schaumburg Bank & Trust Company, National Association — 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 Schaumburg Bank & Trust Company, National Association before applying. If you represent Schaumburg Bank & Trust Company, National Association, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Schaumburg Bank & Trust Company, National Association by phone at (847) 969-1200 or online at bankschaumburg.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 Schaumburg Bank & Trust Company, National Association before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Schaumburg Bank & Trust Company, National Association can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask Schaumburg Bank & Trust Company, National Association directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Schaumburg Bank & Trust Company, National Association participates in SBA Express depends on its specific SBA lending authority. Contact Schaumburg Bank & Trust Company, National Association and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
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. Schaumburg Bank & Trust Company, National Association can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
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. Schaumburg Bank & Trust Company, National Association's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Schaumburg Bank & Trust Company, National Association directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
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 Schaumburg Bank & Trust Company, National Association what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
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 Schaumburg Bank & Trust Company, National Association to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
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 Schaumburg Bank & Trust Company, National Association to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
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. Schaumburg Bank & Trust Company, National Association weighs this case by case under its own policy, so be upfront about your history and ask Schaumburg Bank & Trust Company, National Association how it evaluates prior bankruptcies.