Lake Forest Bank & Trust Company, National Association
Lake Forest Bank & Trust Company, National Association is an active SBA lender in the United States, a bank offering SBA-guaranteed small-business loans. Currently rated 4.4 stars across 24 Google reviews.
$64M
in SBA approvals since 2010
93
SBA loans funded
Restaurants & Food Service · Wholesale & Distribution · Construction & Contractors
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Lake Forest Bank & Trust Company, National Association
Offering comprehensive banking services tailored to small businesses and entrepreneurs, this financial institution specializes in SBA loan programs including 7(a). With a focus on supporting local business growth, it provides flexible financing options for various industries. The bank is equipped to handle loan amounts up to $150,000, making it an ideal partner for startups and established companies alike. Its experienced team guides clients through the application process, ensuring clarity and efficiency. Located in Lake Forest, Illinois, the bank emphasizes personalized service and community involvement, fostering long-term relationships with its clients. Whether you're seeking funding for expansion, equipment purchase, or working capital, this bank offers solutions designed to meet your unique needs. Its commitment to small business success is reflected in its dedicated SBA lending team and streamlined approval process. With a strong local presence, it understands the regional market dynamics and can tailor financing options accordingly. The bank's infrastructure supports a variety of industries, with particular strength in professional services and retail sectors. Overall, it aims to empower small businesses with accessible, reliable financing options to help them thrive in competitive markets.
Common questions about Lake Forest Bank & Trust Company, National Association
What is this place and what can I find here?
This is a community-focused bank offering SBA loan programs, small business financing, and personalized banking services designed to support local entrepreneurs and growth initiatives.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a banking specialist, but walk-ins are also welcome during business hours.
What are the hours of operation?
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.
Is there a fee to use this?
Fees may apply for certain banking services and loan processing, but there is no fee to simply visit or open an account.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local residents and small business owners within the community but welcomes new clients who meet their lending criteria.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 620 is generally required to qualify for SBA loans.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and documentation provided.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Lake Forest 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 Lake Forest Bank & Trust Company, National Association to confirm current weekend availability before you go.
How do I get there and where do I park?
Lake Forest Bank & Trust Company offers dedicated parking lots at this location; please confirm current availability with the bank.
Who owns or operates this listing?
This page is an independent directory listing for Lake Forest Bank & Trust Company, National Association, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Lake Forest Bank & Trust Company, National Association itself, which runs its own lending under its own ownership. If you work at Lake Forest 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 Lake Forest 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 Lake Forest Bank & Trust Company, National Association before applying. If you represent Lake Forest 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 Lake Forest Bank & Trust Company, National Association by phone at (847) 234-2882 or online at lakeforestbank.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 Lake Forest Bank & Trust Company, National Association before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Lake Forest 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 Lake Forest 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 Lake Forest Bank & Trust Company, National Association participates in SBA Express depends on its specific SBA lending authority. Contact Lake Forest 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. Lake Forest 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. Lake Forest 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 Lake Forest 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 Lake Forest 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 Lake Forest 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 Lake Forest 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. Lake Forest Bank & Trust Company, National Association weighs this case by case under its own policy, so be upfront about your history and ask Lake Forest Bank & Trust Company, National Association how it evaluates prior bankruptcies.