Resource Bank, National Association

This is a bank that offers SBA loan programs designed to help small and medium-sized businesses secure financing for various needs such as expansion, equipment, and real estate. You can find personalized support and flexible loan options tailored to your business goals.

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours depending on availability.

The bank typically operates from 8:30 am to 5:00 pm, Monday through Friday, but hours may vary, so it’s best to contact them in advance.

There are no fees for simply visiting or consulting; however, loan application and processing fees may apply depending on the specific financing arrangement.

This bank primarily serves small business owners and entrepreneurs, with eligibility based on creditworthiness and business qualifications, regardless of residency status within the country.

A minimum personal credit score of approximately 640 is typically required, though higher scores improve approval chances.

The underwriting process generally takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.

Most banks keep weekday business hours and are closed on weekends, and Resource Bank, 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 Resource Bank, National Association to confirm current weekend availability before you go.

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

The core details for Resource Bank, 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 Resource Bank, National Association before applying. If you represent Resource Bank, National Association, claim this listing to keep its information up to date.

You can also reach Resource Bank, National Association through their online contact form at resourcebank.com/about-us/resource-bank/contact-us in addition to phone at (815) 756-6321.

Based on its approved SBA loans, Resource Bank, National Association most often finances businesses in manufacturing, construction & contractors, restaurants & food service, and general retail. This reflects Resource Bank, National Association'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 Resource Bank, National Association 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 Resource Bank, National Association participates in SBA Express depends on its specific SBA lending authority. Contact Resource Bank, National Association 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. Resource Bank, National Association 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. Resource Bank, National Association's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Resource Bank, National Association 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 Resource Bank, National Association 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 Resource Bank, National Association 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 Resource Bank, National Association 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. Resource Bank, National Association weighs this case by case under its own policy, so be upfront about your history and ask Resource Bank, National Association how it evaluates prior bankruptcies.